What Happened: Mishaboar, a prominent name in the Dogecoin community, took to Twitter to say the account that tweeted the news about a KFC branch in Utah accepting Dogecoin was fake and the “scammers” have changed their Twitter handle.
— Mishaboar (@mishaboar) February 23, 2022
However, the Twitter handle that posted the news apologized for a “joke taken too far” and denied it was a scam.
— crypto boi (@crypt_boiiii) February 23, 2022
See Also: How To Buy Dogecoin (DOGE)
Why It Matters: The latest incident throws the spotlight on rising cryptocurrency scam activity on Twitter’s social media platform.
Cryptocurrency scams — particularly by impersonators of Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk, Ethereum (CRYPTO: ETH) co-creator Vitalik Buterin and other notable figures — have been widespread in recent years on Twitter.
The scammers typically ask Twitter users to send cryptocurrencies like Dogecoin, Ethereum or Bitcoin (CRYPTO: BTC) to specific wallet addresses, promising to multiply the cryptocurrency that investors send.
Musk had recently agreed to a comment by Dogecoin co-creator Billy Markus that Twitter needs to curb cryptocurrency scam activity on its platform.
Meanwhile, the Dogecoin and Shiba Inu (CRYPTO: SHIB) communities have been clamoring for fast-food chains to accept the two cryptocurrencies as payment options. This is not the first time that there are rumors of KFC accepting Dogecoin are spreading on social media.
Price Action: Dogecoin is down 12.5% during the last 24 hours, trading at $0.1149 at press time.