The pseudonymous blockchain investigator ZachXBT says a network of accounts on the social media platform X is taking advantage of the crisis in the Middle East to promote fraudulent crypto schemes.
The widely followed onchain analyst tells his nearly 985,000 X followers that the accounts create exaggerated or fake news about the war that go viral and attract millions of views as well as thousands of likes and replies each day.
Trending: Houthis claim first missile attack on Israel since start of Iran war
“I uncovered a coordinated network of 10+ accounts manufacturing viral panic about war and politics to drive traffic to crypto scams.”
ZachXBT says the scheme involves buying accounts with followers, doomposting several times per day, reposting content using alt accounts, promoting scams and then changing username.
He says the accounts in the network have links to fake giveaways and a pump and dump scam.
“Ten X accounts in the cluster all promoted the pump and dump crypto scam $ORAMAMA
Continue reading
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!