Threads and BlueSky Could Be a New Playground for Scammers

In today’s digital landscape, social media has become essential for businesses to connect with their audience and promote their brand. However, the emergence of new social media platforms brings about potential risks that companies must be aware of. In this blog post, we will shed light on the risks associated with creating official company accounts on recently emerged platforms such as Threads and BlueSky. By understanding these risks, you can proactively safeguard your company’s reputation and mitigate potential financial and reputational losses.

New Platforms, Known Risks

Threads by Meta

Threads is a recently emerged social media platform introduced by Meta, which owns Facebook. According to Meta’s description, Threads aims to bring communities together for discussions on a wide range of topics. It offers users the opportunity to connect with their favorite creators and like-minded individuals who share similar interests. Threads emphasizes the ability to follow topics and build a loyal following to share ideas, opinions, and creativity.

BlueSky

Bluesky is a decentralized social network protocol and an associated social networking service. It was conceptualized by former Twitter CEO Jack Dorsey and developed in parallel with Twitter. Bluesky has a Twitter-like user interface with algorithmic choice, a federated design, and community-specific moderation.

Account Takeover and Impersonation

One of the significant risks of not creating an official account on new social media platforms is the possibility of someone else taking over your company’s name and impersonating your business. Malicious actors can create fake accounts, mimic your brand identity, and engage in deceptive activities to cheat your clients, spread misinformation, or conduct phishing attacks. This can not only lead to financial loss but also tarnish your company’s reputation and erode customer trust.

Phishing Attacks and Malware Distribution

By impersonating your company on these new platforms, threat actors can exploit your brand name to carry out phishing attacks. They may send deceptive messages or distribute malicious links that can lead unsuspecting users to phishing websites or download malware onto their devices. Falling victim to such attacks can compromise sensitive information, harm your customers, and potentially damage your company’s reputation.

From another perspective, companies should educate employees about emerging threats. One such threat is the proliferation of fake social media sites created to deceive unsuspecting individuals, especially when new social media platforms gain popularity. These malicious actors leverage the curiosity and eagerness of users to join these platforms, enticing them with enticing offers or exclusive content. However, these sites are designed with the sole purpose of stealing sensitive information or spreading malware. To mitigate the risks associated with these phishing attempts, it is essential for organizations to proactively warn and educate their employees about the dangers of engaging with unfamiliar social media platforms. By promoting awareness and providing guidance on identifying and avoiding such scams, businesses can fortify their defenses and empower their employees to make informed decisions while navigating the dynamic social media landscape.

Reputational Damage

If someone else claims your company’s name and uses it for malicious purposes, it can have severe consequences for your brand’s reputation. Disseminating false information, unethical practices, or harmful content can significantly impact customers’ trust and perception towards your business. Rebuilding a damaged reputation takes time, effort, and resources, potentially resulting in financial losses and the loss of valuable customers.

Conclusion

While new social media platforms like Threads and BlueSky offer exciting possibilities, it is crucial to weigh the potential risks if you do not have a digital presence on these platforms yet. Account takeovers, impersonation, phishing attacks, malware distribution, and reputational damage are genuine concerns that can have far-reaching consequences for your business. 

In today’s evolving threat landscape, it is crucial for organizations to proactively protect their digital presence and mitigate risks that can harm their brand, compromise sensitive data, and lead to reputational damage.

Protect Your Digital Presence with SOCRadar Digital Risk Protection

SOCRadar’s Digital Risk Protection module offers a comprehensive solution to help businesses stay one step ahead of threat actors and safeguard their online assets.

With SOCRadar DRP’s actionable intelligence alerts, powered by industry-leading technologies, organizations can leverage instant phishing domain identification, internet-wide scanning, and compromised credential detection to detect and respond to potential risks swiftly and effectively. By aggregating and correlating vast amounts of data, RiskPrime provides Security Operations and Risk Management teams with the necessary insights to understand evolving risks through digital transformation and take proactive steps for mitigation.

By partnering with SOCRadar, organizations can empower their security teams to protect their brand reputation, avoid legal troubles, and prevent intellectual property from falling into the wrong hands. SOCRadar acts as an extension to your SOC team, addressing skill shortage challenges and providing the expertise needed to monitor and mitigate threats.

Don’t leave your digital presence vulnerable to emerging threats. Take control of your organization’s security with SOCRadar. Detect, monitor, and mitigate risks to protect your brand, customer trust, and valuable data. Stay ahead of threat actors with actionable intelligence and ensure the resilience of your digital ecosystem.