X, the social media platform owned by Elon Musk, plans toautomatically lock accounts that post about cryptocurrency for the first time.The feature aims to curb a surge in phishing attacks using hijacked accounts topromote crypto scams.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)Head of Product Nikita Bier confirmed the move, saying thecompany is implementing “auto-locking and verification” for users who mentioncrypto for the first time. Those accounts will remain locked until verificationis complete. “This should kill 99% of the incentive,” Bier said, noting thatmany hackers target accounts mainly to spread fraudulent crypto schemes.Yeah we’re aware.We are in the process of implementing auto-locking + verification if a user posts about cryptocurrency for the first time in the history of their account.This should kill 99% of the incentive, especially since Google isn’t doing shit to stop the phishing…— Nikita Bier (@nikitabier) April 1, 2026Response to Rising Phishing AttacksThe change follows a wave of attacks that use fake copyrightviolation emails to trick users into revealing login and two-factorauthentication details. Stolen accounts are then used to promote fraudulentprojects, tokens, or giveaways.Phishing and crypto-related scams have plagued X since itsdays as Twitter. Impersonators posing as public figures or companies often lurevictims into sending digital assets, which cannot be recovered oncetransferred. One of the most notable incidents occurred in 2020, whenhackers accessed Twitter’s internal systems and used verified accounts topromote a fake bitcoin giveaway, stealing over $100,000.Broader Push for Platform SecurityX has increased efforts to prevent such activity,introducing stricter API limits and expanding bot detection. Bier criticizedGoogle for not blocking phishing emails that reach users’ inboxes, sayingGmail’s lax filtering still exposes users to risks.The new auto-lock policy is set to build on X’s broadersecurity improvements and could sharply reduce the use of compromised accountsfor crypto scams.This article was written by Jared Kirui at www.financemagnates.com.