A delusional fake tweet sent from an account masquerading as BitMEX CEO Arthur Hayes was considered the real one by some crypto media.
You may have seen the headlines, but Elon Musk recently tweeted that Tesla’s stock price was too high. The comment angered investors as it led to a massive drop in prices.
Some reports since Musk’s tweet with fake profiles of famous people in the cryptocurrency industry – except that some didn’t seem to notice that it was a joke.
“The price of Bitcoin is too high”
CryptoChimp (@Cryptanzee) is a self-described “Crypto Memelord”. Chimp recently changed his Twitter name to “Arthur Hayes”, the CEO of BitMEX, and did his usual trolling.
Chimp tweeted in a tweet that went viral on Crypto Twitter «Bitcoin price is too high imo»While using the name Arthur Hayes (since then he has changed it again):
Some actually believed it was a Hayes tweet. Some have even written stories about it. A CryptoPotato reporter has ended be cheated and fell into the CryptoChimp trap.
As one user (@crypto_bobby) wrote, it was a God level troll.
It is understandable that mistakes happen. However, it would only have taken a few seconds to easily identify it as a joke. Unfortunately, the reporter probably spent a lot of time writing the article and only an insignificant amount of time working through it.
The media are easy to fool
Cryptocurrency media are often hungry for news, and this can sometimes lead to ruthless reporting.
Such a case occurred in September 2019 when a Bloomberg reporter tweeted: “The NSA is working to build a quantum-resistant cryptocurrency.” The author talked about crypto, but the crypto media was desperate to report on it. Cointelegraph, Cryptonomist, Finance Magnates, CCN, ZeroHedge and others reported that the NSA was working on a crypto. Forbes even incorrectly wrote NSA as “NASA” and just let it go.
This is one of the worst examples, but fake news often gets around in the crypto space. There have been some suggestions on how to best deal with it, from using AI to “regulating” the industry.
You will remember that Changpeng Zhao, CEO of Binance, called for regulation of the media sphere and an “anti-FUD” fund. From everyone, Justin Sun, from the glory ofHe said he would contribute and the bad idea ended before it started.
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