In the contemporary world of digitalization and the increasing utilization of cryptocurrency by businesses like Tesla, room for crypto scams and manipulation is also generated. Viewing the alarmingly high number of K-pop fans across the globe, it seems that they are under the target of a well-designed and global crypto scam.
K-pop can be regarded as the pop version of South Korean music. K-pop bands experience immense popularity in Asia; nevertheless, with the spread of internet services, the popularity has ascended across the globe, where millions of people have declared themselves as K-pop fans. Subsequently, a cryptocurrency scam revolving around the incorporation of social intelligence and media manipulation is underway on Twitter and targets the immensely large number of K-pop fans.
It is argued by the Economic Times that a group essentially purchased thousands of K-pop fan accounts and established a botnet on Twitter. After which, fans were articulated into participating in fake giveaways revolving around bitcoins and cryptocurrency. Unfortunately, the group of individuals behind this crime have not to be identified as of yet; hence, the victims of this crime cannot be brought to justice.
This issue hit mainstream media when a female tweeter based in India tweeted that her account was following a cryptocurrency account without her consent—implying how the action occurred through illegal means. Nevertheless, it was later discovered that an intrusion did not occur, and a k-pop fan account she was following had altered its paradigm from k-pop to cryptocurrency. This notion led to the point that the account was likely bought for crypto scam purposes.
Other related k-pop fans also noticed that the k-pop fan pages included over 6000 tweets penetrating towards cryptocurrency, while content related to BTS and K-pop was uncannily not available or buried under thousands of cryptocurrency-related tweets. In addition, the accounts also invited individuals to follow other pages affiliated with cryptocurrency content, where all accounts claimed to engage people in giveaways. Retweeting of the same content brought a significant amount of engagement to these fan accounts, and individuals leaving behind comments exposing them were instantly blocked.
As a counter-reaction to controlling these rip-offs, Twitter has taken action and shut down accounts in affiliation with this scam. Numerous large accounts have been shut down; however, several small accounts continue to take advantage of clueless BTS and K-pop fans.