Crypto scammers are adopting new tactics to attract victims by exploiting emotionally charged and trending topics to drive engagement.
In a recent thread on X, respected on chain investigator ZachXBT revealed a coordinated group of more than ten accounts that have been spreading viral fear related to war and politics in order to funnel users into cryptocurrency scams.
The ongoing conflict in the Middle East has dominated online discussions, and according to ZachXBT, some actors are taking advantage of this attention to deceive users and steal funds.
How the Scheme Operates
ZachXBT explained that the operation follows a structured approach. The individuals behind it first acquire social media accounts that already have established followings. They then begin posting large volumes of highly negative content each day, a tactic often referred to as doomposting, which is designed to provoke strong emotional reactions and increase engagement.
Next, the same content is amplified through additional accounts, while posts promoting fake giveaways or direct scams are introduced. After completing these steps, the operators often change their usernames to avoid detection.
Why the Tactic Is Effective
The success of this scheme largely depends on social engineering. Users are more likely to react to and interact with negative or alarming content than positive updates. ZachXBT noted that several large accounts unknowingly contributed to the spread by engaging with these posts in the comments, which increased their visibility and reach.
He also identified at least ten accounts within the network that promoted pump and dump schemes. Based on on chain data, he estimates that the operation generated profits in the six figure range.
ZachXBT raised concerns about the broader implications of this tactic. He warned that if a more sophisticated actor, such as a nation state, were to use a similar strategy, the impact could be far more serious. He argued that manipulating platforms in this way should lead to bans and potential legal consequences, especially as many users continue to fall victim to misleading information and scams online.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
