There are a million pieces of news on the social networking site. If you are a user of the site, it could be difficult to keep up with what is happening.
Some of the staff who were cut are now suing the company. On Monday, the newly installed CEO planned to charge $20 for verification and on Tuesday, it was $8, seemingly because of an online spat between the world's richest man and horror author Stephen King.
The scam artists are taking advantage of the confusion. The email inboxes of many verified users of the social networking site are being flooded with fraudulent emails this week.
These messages are mostly focused on getting the target to click a link and then enter their password on a fake website that looks like it came from a popular social networking site. According to a report from Bleeping Computer, some of the schemes send two-factor verification codes via text message.
The scam emails claimed to have a $19.99 price for Musk-era verification when it was rumored that it was $20/month. The price seems to have been lowered based on Bleeping Computer's screen shots.
As of now, the company has not sent out notifications regarding verified status payments. There are no emails asking you to change your account in order to keep your verified status.
According to a report from the New York Times, there are only 423,000 verified users on the social networking site. The blue check mark is seen as a status symbol by some people. Since the feature's launch in 2009, verification has been a guard against would-be-impersonators.
Musk's proposed monthly payment plan could pose a threat to the system. One day before the U.S. election, Musk is planning to start a subscription blue check program. According to the NYT report, subscribers wouldn't necessarily need to prove their identities to get a "blue tick."
When you consider the $13 billion in debt the company was forced to take on during his acquisition, it makes sense that the CEO would want to quickly monetize his new social media platform. In the 16 years that it has existed, there have only been a couple of profitable years. Maybe Musk should have thought about what he was getting into before starting his takeover.
Even if every verified person on the platform pays $8 a month, the company still has to pay off a billion dollars annually. At the moment, more people are leaving the social networking site than they are signing up for blue check marks. The site lost its most active users earlier this month. According to a report by MIT Technology Review, nearly one million users have left the site since Musk bought the site.
Advertisers are putting a temporary stop on their activity on the site. General Mills, General GM, Pfizer and many other companies are stopping their ads on the platform until they see what Musk has in store for content moderation.
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