On-chain investigator ZachXBT has exposed a coordinated social media scam network that exploited fear surrounding geopolitical conflicts, particularly the ongoing Middle East tensions, to direct users toward fraudulent cryptocurrency schemes. The network, comprising more than 10 X (formerly Twitter) accounts, employed a sophisticated strategy to manipulate user engagement for financial gain.
The operators first purchased X accounts that already possessed a follower base, giving them an initial platform. They then transformed these accounts to resemble popular news sources and began "doomposting"—repeatedly sharing alarming, negative updates about war and politics several times a day. This content was designed to capitalize on the high engagement surrounding fast-moving global events.
ZachXBT detailed the scam's clear sequence: after posting fear-driven content, the network used linked alt-accounts to repost the messages, artificially boosting visibility. Once significant reach was achieved, the accounts pivoted to promoting crypto scams. These included fake giveaways and pump-and-dump token schemes. In one cited example, the accounts promoted the memecoin ORAMAMA in February before executing a rug pull, causing the token's value to crash.
The investigator's on-chain analysis revealed that this coordinated activity was financially motivated, with evidence suggesting the cluster profited a six-figure sum from these operations. Following their fraudulent campaigns, the accounts would often change usernames to evade detection and reuse the profiles for future scams.
ZachXBT emphasized the dangerous effectiveness of this social engineering tactic, noting that even some large, legitimate X accounts unknowingly interacted with the posts, granting them further exposure. He issued a stark warning about the scalability of such manipulation, stating, "it's scary to think about how easily the same method could be used on a larger scale," and called for platform bans and legal action against such coordinated fraud.
