X, the social media platform owned by Elon Musk, plans to
automatically lock accounts that post about cryptocurrency for the first time.
The feature aims to curb a surge in phishing attacks using hijacked accounts to
promote crypto scams.
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Head of Product Nikita Bier confirmed the move, saying the
company is implementing “auto-locking and verification” for users who mention
crypto for the first time. Those accounts will remain locked until verification
is complete. “This should kill 99% of the incentive,” Bier said, noting that
many hackers target accounts mainly to spread fraudulent crypto schemes.
Yeah we’re aware.We are in the process of implementing auto-locking + verification if a user posts about cryptocurrency for the first time in the history of their account.This should kill 99% of the incentive, especially since Google isn’t doing shit to stop the phishing…
— Nikita Bier (@nikitabier) April 1, 2026
Response to Rising Phishing Attacks
The change follows a wave of attacks that use fake copyright
violation emails to trick users into revealing login and two-factor
authentication details. Stolen accounts are then used to promote fraudulent
projects, tokens, or giveaways.
Phishing and crypto-related scams have plagued X since its
days as Twitter. Impersonators posing as public figures or companies often lure
victims into sending digital assets, which cannot be recovered once
transferred.
One of the most notable incidents occurred in 2020, when
hackers accessed Twitter’s internal systems and used verified accounts to
promote a fake bitcoin giveaway, stealing over $100,000.
Broader Push for Platform Security
X has increased efforts to prevent such activity,
introducing stricter API limits and expanding bot detection. Bier criticized
Google for not blocking phishing emails that reach users’ inboxes, saying
Gmail’s lax filtering still exposes users to risks.
The new auto-lock policy is set to build on X’s broader
security improvements and could sharply reduce the use of compromised accounts
for crypto scams.
This article was written by Jared Kirui at www.financemagnates.com.
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