Cryptocurrency

<p>Social media has become a major arena for scams, and Elon Musk’s X has announced new steps to confront the problem. The platform said it is pursuing legal action against banned accounts, including cryptocurrency scammers, who attempted to regain access to the site through circumvention methods.</p>
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  <h2 class="in-brief--title" id="in-brief">In Brief</h2>
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   <li>X is pursuing legal action against banned accounts that tried to regain access through unauthorized methods.</li>
   <li>Some of these attempts involved bribing employees to reactivate accounts linked to cryptocurrency scams and manipulation.</li>
   <li>The platform identified these individuals as part of a larger network called The Com that operates across multiple social media and gaming platforms.</li>
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<h2 id="h-x-acts-against-bribery-attempts">X Acts Against Bribery Attempts</h2>
<p>The company reported that some individuals tried to bypass suspensions by using intermediaries. These go-betweens allegedly attempted to bribe employees to restore accounts that had been deactivated for activities such as <a href="https://www.cointribune.com/en/the-12-billion-threat-how-scammers-exploit-ai-in-crypto/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency fraud</a> and manipulation of the platform. It described this activity as part of a broader bribery network targeting its operations.</p>
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<p>X explained that those involved are not acting alone. The company pointed to connections between these individuals and a larger group identified as “The Com”. According to X, this network has a footprint across multiple digital spaces, from social platforms such as Instagram, TikTok, and YouTube to online gaming communities like Minecraft and Roblox.</p>
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<h2 id="h-the-com-network-under-fbi-scrutiny">The Com Network Under FBI Scrutiny</h2>
<p>On July 23, the Federal Bureau of Investigation <a href="https://www.ic3.gov/PSA/2025/PSA250723-3" target="_blank" rel="noopener noreferrer nofollow">released a statement about the group</a>. It referred to the group as ‘The Com’, short for ‘The Community’, and described it as <em>“a primarily English speaking, international, online ecosystem comprised of multiple interconnected networks whose members, many of whom are minors, engage in a variety of criminal violations.”</em></p>
<p>The FBI reported that over the past four years, The Com has developed more advanced methods, and its members have adopted techniques to disguise their identities, conceal how funds are transferred, and process illegal profits, showing the growing sophistication of these malicious actors.</p>
<h2 id="h-x-faces-repeated-account-breaches-and-fraud">X Faces Repeated Account Breaches and Fraud</h2>
<p>This is not the first time the platform itself has been the focus of criminal activity:</p>
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 <li>In 2020, attackers gained access to accounts belonging to major public figures and corporations, including Barack Obama, Apple, Uber, and Kanye West. These accounts were then used to <a href="https://decrypt.co/340497/x-legal-action-crypto-scamming-bribery-scheme" target="_blank" rel="noopener noreferrer nofollow">promote a fraudulent Bitcoin scheme</a>.</li>
 <li>In 2024, well-known accounts were again breached to promote a Solana-based token, showing that prominent accounts continue to be exploited to spread fraudulent schemes.</li>
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<p>Cryptocurrency is often mentioned in connection with scam operations. It frequently appears in scandals because it is commonly used in underground markets and bribery. Chainalysis reported that in 2024, <a href="https://www.chainalysis.com/blog/2025-crypto-crime-report-introduction/" target="_blank" rel="noopener noreferrer nofollow">illicit crypto addresses received $40.9 billion</a>.</p>
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<p>Meanwhile, X reported in its transparency update that <a href="https://www.businessinsider.com/elon-musk-x-twitter-account-suspensions-rising-2024-9" target="_blank" rel="noopener noreferrer nofollow">it removed 5.3 million accounts</a> during the first half of 2024. The company explained that the removals were linked to risks to children, abusive behaviour, and accounts using deceptive identities.</p>
<p>Regarding the latest situation, X stated that <a href="https://www.cointribune.com/en/elon-musks-social-network-x-targeted-by-an-investigation-in-france/" target="_blank" rel="noopener noreferrer nofollow">legal action</a> against individuals tied to the bribery scheme is already underway. The company emphasised that it is cooperating fully with law enforcement authorities to address the matter.</p>

Elon Musk’s X Cracks Down on Cryptocurrency Scammers and Bribery Network

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