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Time Details
2025-07-22
12:53
ZachXBT Exposes Influencer Crypto Scams: A Stark Warning for Traders on Pump and Dump Schemes

According to @zachxbt, traders must exercise extreme caution and cease blindly following influencer calls, which can often be part of elaborate scams. The on-chain investigator highlighted a tactic where an influencer acquires a significant supply of a new token at launch, a practice known as 'sniping,' and then aggressively promotes it to their followers. This behavior, as cited by @zachxbt, is a classic setup for a pump-and-dump scheme, posing a severe financial risk to unsuspecting investors. He advocates for platforms like X to suspend accounts involved in such fraudulent activities to protect the community.

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