Elon Musk: Japan sends a rare warning on a bogus X account

Japan’s financial ministry has requested that X, formerly known as Twitter, remove an account impersonating the country’s top currency ambassador, Masato Kanda.

“Please don’t follow the impersonation account and/or comment on the post,” the ministry urged in a rare English-language message on the social networking platform.

Mr Kanda is a major figure in the world’s third largest economy’s efforts to stabilize the yen’s value.

The phony account appears to have been deactivated.

Elon Musk’s company, X, did not immediately respond to a request for comment from the BBC.

Mr Kanda wields considerable power among Japan’s monetary policymakers. His public remarks have the potential to influence the yen’s value relative to other major currencies.

According to Reuters, the account, which had roughly 550 followers, has not made any remarks on the currency or financial markets.

The account contained five posts, the most recent of which appeared to spoof Mr Kanda’s trip to Ukraine earlier this week, according to the agency.

“A Twitter impersonation account (Masato Kanda @Jgghkj_) posing as Vice Minister Kanda Masato of Japan’s Ministry of Finance was confirmed,” the ministry stated Thursday in a post on X.

The government also stated that it is “currently requesting that X (formerly Twitter) suspends the impersonation account.”

The account was suspended for breaking “Twitter Rules” on Friday, according to a message on X.

The yen has long been seen as a safe haven in global financial markets, with investors typically purchasing it during times of crisis.

However, the currency’s value against the US dollar has dropped in recent months. This is due to the fact that Japan’s central bank has kept its primary interest rate below zero even as central banks across the world have lifted their interest rates dramatically.

Increased interest rates make a currency more appealing to investors.

As a result, there is less demand for currencies from nations with lower interest rates, and the value of those currencies falls.

The Bank of Japan maintained ultra-low interest rates last week, but stated that rates would be allowed to climb more freely.

However, the yen fell to 143.89 per dollar on Thursday, its lowest level in over a month.

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