The real upshot of the recent rise in image spam is that spammers have so many spamming bots out there that they have been able to economically dump the CPC (cost per click) model of advertising for the CPM model (cost per impression). In other words, they don’t include hyperlinks as much any more, knowing those are easily detected; instead they send out a zillion link-less image spam messages, figuring that at least some of those “ads” will be seen and acted upon, even if they don’t contain links.
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