Many of the tricks are things we're all used to. Fake pages, fake ads, et cetera:
Once the fake profile loads, a blue screen descends, saying the profile is protected by the "MySpace Adult Content Viewer." Unsuspecting users who try to download the viewer instead get a worm that installs adware on their computers.
Earlier this year, they committed themselves to improving security. Despite that, this year they've been hit with several major incidents that left their users compromised. Considering the audience MySpace targets, which is very wide, it's really up to them and them alone to make sure their service is secure.