A recent report has unveiled the presence of a substantial number of “fake followers” among digital assets accounts and crypto celebrities on Twitter.

Following his $44 billion acquisition of Twitter, Elon Musk has made cracking down on fake accounts, also known as “spam bots,” a top priority. Musk expressed his frustration with fake accounts, labeling them as the “single most annoying problem” on Twitter in a tweet back in April 2022.

However, data from dappGambl reveals that as many as 10% of the followers of cryptocurrency coin accounts and influencers on the platform are fake.

Among the official accounts of cryptocurrency projects, Shiba Inu (SHIB) has the highest number of fake followers, accounting for approximately 10.26% or 80,000 accounts, as discovered in the study. Avalanche (AVAX) and Polygon (MATIC) followed closely with 8.14% and 7.58% of fake followers, respectively.

The significant presence of fake followers could be attributed to the popularity and novelty of certain coins, with bots attempting to artificially inflate the number of followers to create the illusion of heightened popularity.

Interestingly, Dai (DAI) emerged as the most positively received coin on Twitter, scoring 9 out of 10, while Ripple (XRP) was deemed the most negatively received, scoring 4.1.

Has Musk’s Twitter Blue Initiative Failed to Eliminate Bots?
In March, Musk announced that only verified accounts, distinguished by a blue checkmark next to the account name, would be eligible to be part of Twitter Blue, starting in April. Musk stated that this was the most practical approach to combat advanced bots.

However, even Musk’s own Twitter account has a fake follower percentage of 4.76%, accounting for over 6.7 million fake followers among his total follower count of 141.6 million.

Some of the prominent crypto influencers on the platform who have accumulated a substantial number of fake followers include Samson Mow, known as @Excellion, with 10% of their Twitter followers being fake.

Former Twitter CEO Jack Dorsey, El Salvador President Nayib Bukele, and Ethereum co-founder Vitalik Buterin also have a significant presence of fake followers.

Recently, Elon Musk suspended a popular Twitter bot known as “Explain This Bob,” labeling it as a scam. As the problem of fake followers persists, it becomes crucial for crypto companies and influencers to implement robust measures to address this issue effectively.