Arbitrum official Twitter account was suspended by Twitter for On Monday. The Arbitrum is a popular Ethereum rollup platform. Arbitrum team addressed its followers by stating that the Twitter had mistakenly flagged it as spam. However, this incident raises concerns about the vulnerability of legitimate cryptocurrency accounts on social media platforms, especially with the rise of scam accounts and phishing schemes.
Twitter's suspension of the Arbitrum account has sparked controversy in the crypto community. What really happened?"
The co-founder of Offchain Labs, the company behind Arbitrum, Harry Kalodner, confirmed the suspension in a text message to CoinDesk. Although he was uncertain about Twitter's rationale, he assured that the Arbitrum Foundation was investigating the matter. Later, a representative for the foundation revealed that Twitter Support had explained that the account was flagged as spam by mistake by their system that identifies and removes multiple automated spam accounts in bulk.
The suspension of Arbitrum's official account came just days after the platform's new ARB governance token was launched, which attracted scammers and phishing schemes targeting investors. Togrhul Mahararramov, a developer for the Ethereum rollup platform Scroll, criticized Twitter for allowing scam accounts to proliferate while suspending the authentic Arbitrum account.
The suspension of a legitimate account on a major social media platform is a cautionary tale for crypto users. With the increasing popularity and value of cryptocurrencies, scammers and hackers are finding new ways to steal users' funds, and social media platforms have become a breeding ground for such activities. It is essential for crypto projects and users to exercise caution and stay vigilant against fraudulent activities.
Arbitrum is a layer 2 rollup platform that allows users to transact on the Ethereum blockchain while paying lower transaction fees. According to DefiLlama, it is currently the largest Ethereum rollup by trading volume and total value locked. The platform's DAO, which is constituted by ARB holders, took over the platform's development with the release of the token. Previously, the platform and its Twitter account were managed by Offchain Labs.
Twitter's erroneous suspension of the official Arbitrum account is a reminder of the risks that investors face in the crypto space. However, it also highlights the importance of platforms like Arbitrum in enabling efficient and cost-effective transactions on the blockchain. It is crucial that social media platforms improve their systems for detecting and responding to fraudulent activity to protect investors and prevent legitimate accounts from being suspended.
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