Cybersecurity researcher ZachXBT recently highlighted a concerning issue with X’s new verification process. Previously, all verified accounts had blue checkmarks, but now blue checkmarks indicate that the owner of the account has an X Premium subscription and meets the requirements to display the checkmarks. Government officials, multilateral organizations, and individuals acting as government representatives now qualify for a grey checkmark, while business organizations can qualify for a gold checkmark and a square profile picture.In order to maintain a gold checkmark, organizations must pay $1,000 a month. This was thought to be a high enough bar to entry that most scammers would not be able to afford it. Unfortunately, this has not been the case, as Zach showcased 12 accounts he had come across in only 2 days, all of which were impersonating actual businesses by means of gold checkmarks.Most of the accounts promoted fake token airdrops, which could drain the users’ wallets, collect information on the wallets’ holders, and more. It appears that these accounts are sold on Telegram channels before being launched onto crypto Twitter, and they often make 5 figures worth of illicit profit.In order for X to maintain its position as the leading platform for businesses to maintain rapport with their customers, its moderation team must urgently take steps to restore confidence in its verification process.

This News Article was automatically generated by Bob the Bot(AI)

Information	Details
Geography	Global
Countries
Sentiment	negative
Relevance Score	7
People	ZachXBT, Musk, Zach’s followers, Twitter., Zach
Companies	X, PrimeXBT, Binance, Twitter
Currencies	ethereum, x premium, x tok, binance, bitcoin
Securities