- The ignorance of social media platforms towards digital scams might push Charles Hoskinson to leave those platforms altogether
- Social media scams could have been avoided had the major social media platforms taken steps to ensure a dependable and robust verification process
- Hoskinson’s IOG is now looking for a new employee with a law enforcement background to handle the frauds on social media
The founder of Cardano and co-founder of Ethereum, Charles Hoskinson, in his recent video, expressed his frustration with the digital scammers performing “giveaway scams”, impersonating well-known figures on several social media platforms. The inactivity of such platforms to limit such actions or punish the culprits might push Hoskinson to leave those platforms, Twitter and Youtube, altogether.
Charles Hoskinson is only disappointed regarding giveaway scams
The CEO of IOG further elaborated how these cunning culprits make a fake account and then proceed to get a blue tick mark, signifying verified official accounts, to fool the gullible public. Pretending to be some well-established personality of the crypto-space, like Elon Musk, Vitalik Buterin, Adam Back or Charles Hoskinson, they first draw from the safety of their screens out believable giveaway announcements. Under the pretence of ‘the more you invest, the larger amount you’ll get in return, get the unaware responder to transfer their crypto to some foreign address as ‘profitable investment’ and then vanish.
Charles Hoskinson believes such scams could have easily been avoided had the major social media platforms taken steps to ensure a dependable verification process. The blunt responsibility of the fact that today anyone can get a blue tick by following just a few steps wholly falls on the ignorance of these platforms.
Immediate Actions Required on hacks and scams
The existence of several Twitter hacks, and giveaway scams via accounts verifying Barack Obama, Bill Gates, and Joe Biden conducted at the national scale undoubtedly point that Twitter was aware of such issues, yet it chose to overlook them. The Colorado-based technology entrepreneur further added, since no action is being taken to resolve the issue to him, leaving Twitter seems like the only reasonable option. He then contemplates leaving all the social media platforms, enabling them to rule out the rest of the accounts claiming to be him as fake.
Hoskinson’s IOG looking for Solution
In this video, the mathematician also shared that his IOG is currently looking for a new employee to handle the frauds on social media. Preferably a person with a law enforcement background, most likely someone like a former FBI agent. The appointed employee’s duty will be to detect and prevent social media fraud.
And at the same time, IOG is processing whether or not they can file lawsuits against such social media platforms. Charles Hoskinson thinks if they can figure out that these companies too are directly or indirectly gaining profit through these scams, as seems to be the case, and adding to that a proper legal lawsuit, might result in their negative press. And perhaps after that, this issue will be taken more seriously.