ZachXBT Exposes Social Media Network Using Fake News to Promote Crypto Scams

ChainCatcher report: On-chain investigator ZachXBT disclosed today that a coordinated network of over ten accounts is generating panic-inducing content related to war and other sensational topics on social platform X to attract traffic, ultimately directing users to crypto scam projects. The network purchases accounts with existing follower bases to frequently post alarmist “doomsday” content, amplifying its reach through multiple bot accounts that reshare and boost visibility, quickly accumulating millions of views and high engagement. Investigations reveal these accounts also use AI-generated fake personas—such as a fabricated “Asian version of Mario Nawfal”—to enhance credibility. After gaining traction, the accounts promote fake airdrops or crypto scam projects, including a concentrated push in February 2026 for the pump-and-dump scheme named ORAMAMA, after which all references were abruptly dropped. On-chain data indicates this operation has already generated six-figure profits for the underlying group. Meanwhile, numerous legitimate high-profile accounts have unintentionally engaged with the content through comments and shares, further amplifying its spread. ZachXBT warned that this combined model—“traffic farms + AI-generated content + crypto scams”—is now highly refined and easily replicable. If exploited by more sophisticated organizations, its potential impact could extend far beyond financial fraud, possibly evolving into a tool for舆论 manipulation. ZachXBT urges platforms to strengthen oversight, enforce bans, and pursue legal action against such manipulation. He also advises users to carefully verify account histories and source credibility before engaging with any content, to combat the growing proliferation of fake content and “engagement bait.”