Elon Musk to Wipe Off Crypto Scam Bots If Twitter Accepts His Takeover

Elon Musk aims to tackle crypto bots, that may be promoting scam posts on Twitter. The Tesla chief made it to the headlines after he proposed to buy the micro-blogging platform for $43 billion (roughly Rs. 3,29,280 crore). Musk has expressed his concerns on Twitter being used by notorious cyber scammers, fishing for unsuspecting investors to mooch off money from. The 50-year-old with a net worth of over $300 billion (roughly Rs. 22,96,710 crore) currently owns a 9.2 percent stake in Twitter, making him the largest shareholder in the company.

“If I had a Dogecoin for every crypto scam I saw, we'd have 100 billion Dogecoin. A top priority I would have is eliminating the spam and scam bots and the bot armies that are on Twitter,” Musk said in a recent TED Talk while speaking to the curator Chris Anderson.

Musk's offer to buy Twitter has meanwhile, stirred major excitement among the global crypto community.

Jack Mallers, the CEO of mobile payment app Strike has said that Musk has a change to revamp payment experiences on Twitter with cryptocurrencies including Bitcoin.

Earlier this week before Musk decided to buy Twitter out, he said that Dogecoin could become a payment option to avail Twitter Blue services.

Musk touted Dogecoin as “the people's crypto” in the past, citing a survey that claimed nearly 33 percent of cryptocurrency owners in the US own DOGE assets.

The tech mogul believes that DOGE makes for a solid choice for paying for goods and services using cryptocurrencies.

In recent days, several people also called out Musk for trying to takeover Twitter in a “hostile” manner.

Twitter's Chief Executive Officer Parag Agrawal has however, reassured employees that the company was not being "held hostage" by news of Musk's offer to buy the company.