Crypto scam network exposed: Fake war panic drives fraud
6.8 Security Over 10 X accounts exploited fake war panic to promote crypto scams, earning six-figure profits. ZachXBT urges bans, legal action, and user vigilance.
A coordinated network of more than 10 X (formerly Twitter) accounts has been uncovered for exploiting sensational war and political content to boost engagement and lure users into cryptocurrency scams. According to ZachXBT, the operation involves acquiring established accounts and posting frequent exaggerated or fabricated "doomposts" about global conflicts. These posts are cross-promoted to maximize reach and engagement. Once a large audience is captured, the accounts pivot to promoting scam tokens or fake giveaways, executing pump-and-dump schemes such as the $ORAMAMA token. This particular scheme generated six-figure profits before being abandoned. The scammers employ AI-generated personas, frequently change usernames to evade detection, and use social engineering tactics to amplify their reach, with even large legitimate accounts unknowingly spreading their content. ZachXBT calls for platform bans, legal action, and increased user vigilance. He warns that if left unchecked, these tactics could be exploited by state-level actors, posing a significant threat to the crypto community.
