  The rise of Web3 social ecosystems signifies the dawn of a new chapter in
digital interaction, offering significant prospects for user engagement and
financial advancement. Nonetheless, this progress is shadowed by potential
privacy concessions, especially as these platforms frequently merge with
existing Web2.0 social media accounts, amplifying data privacy risks for users.
  In this study, we investigate the nuanced dynamics between user engagement on
Web3 social platforms and the consequent privacy concerns. We scrutinize the
widespread phenomenon of fabricated activities, which encompasses the
establishment of bogus accounts aimed at mimicking popularity and the
deliberate distortion of social interactions by some individuals to gain
financial rewards. Such deceptive maneuvers not only distort the true measure
of the active user base but also amplify privacy threats for all members of the
user community. We also find that, notwithstanding their attempts to limit
social exposure, users remain entangled in privacy vulnerabilities. The actions
of those highly engaged users, albeit often a minority group, can inadvertently
breach the privacy of the larger collective.
  By casting light on the delicate interplay between user engagement, financial
motives, and privacy issues, we offer a comprehensive examination of the
intrinsic challenges and hazards present in the Web3 social milieu. We
highlight the urgent need for more stringent privacy measures and ethical
protocols to navigate the complex web of social exchanges and financial
ambitions in the rapidly evolving Web3.
