Scammers have found a new playground on X (formerly Twitter), where they’re pushing fake cryptocurrency schemes through ads. The latest scam revolves around a made-up “iToken” cryptocurrency that doesn’t actually exist.
When users click on these dangerous ads, they land on websites that look legitimate but are designed to steal money. These fake sites claim Apple is launching this new cryptocurrency called iToken, hoping to trick people who trust the Apple brand.
The scam works by creating fake news articles that look like they’re from trusted sources like CNBC or Yahoo Finance. They even include made-up quotes from Apple CEO Tim Cook talking about this nonexistent currency.
“We’ve seen a massive uptick in social media crypto scams this year,” says Maya Rodriguez, a cybersecurity analyst I spoke with. “These scammers are getting better at making their fake sites look real.”
What makes this scam especially dangerous is how it spreads through X’s advertising system. Despite the platform’s safety measures, these malicious ads slip through and reach thousands of users daily.
The fake websites try to create urgency, claiming only a limited number of people can invest in iToken before it goes public. This pressure tactic tricks people into making quick decisions without checking if the offer is legitimate.
People who fall for the scam are prompted to connect their crypto wallets or provide credit card information. Once scammers have this access, they drain victims’ accounts within minutes.
X isn’t the only platform where these scams appear. Similar schemes have popped up on Facebook, Instagram, and even in Google search results, according to cybersecurity experts at Epochedge technology.
The rise in crypto scams comes as more people show interest in digital currencies. Scammers exploit this curiosity by creating elaborate stories around fake investment opportunities.
To stay safe, always verify cryptocurrency news through official channels. Apple and other major companies announce new products on their official websites, not through random ads on social media.
If you encounter these ads, report them immediately to the platform. You can also check Epochedge news for updates on emerging scams and how to protect yourself.
Remember that legitimate cryptocurrency investments don’t promise guaranteed returns or require urgent action. If something sounds too good to be true in the crypto world, it almost certainly is.
As digital currencies continue to evolve, education remains our best defense. Resources like Epochedge education provide valuable information for those interested in legitimate cryptocurrency options.
The battle between scammers and platforms like X will likely continue. Until stricter ad verification measures are implemented, users must remain vigilant while browsing social media.
