X, a platform with a large user base, has introduced a new policy aimed at reducing spam and phishing on its platform. According to the company's Head of Product, Nikita Bier, Twitter accounts will be automatically locked if they mention cryptocurrency for the first time.
The trigger for this action is not repeat offenders, but rather first-time crypto posting. This move is intended to target the 99% of phishing incentives tied to hijacked accounts promoting fraudulent tokens and fake giveaways. The company has also been dealing with a wave of fake copyright violation emails that strip users of login credentials and 2FA codes.
The impact of this policy on memecoin communities may be severe, as many rely heavily on social momentum and viral discovery loops. Legitimate projects and scams are getting tarred with the same brush, making it challenging to distinguish between the two.