Altcoin

<h4 data-start="143" data-end="688"><strong>The network involved suspended accounts associated with crypto scams and platform manipulation. These bad actors hired middlemen to attempt to bribe employees to reinstate their accounts, undermining trust and security.</strong></h4> 
<p data-start="143" data-end="688">Legal proceedings are already underway against the participants, and X is fully cooperating with law enforcement agencies to hold all responsible parties accountable.</p> 
<h3 data-start="690" data-end="720" id="strong-how-the-network-operated-strong"><strong>How the Network Operated</strong></h3> 
<p data-start="722" data-end="1312">The bribery attempts were not isolated incidents but part of a larger, sophisticated scheme. Perpetrators leveraged popular social media platforms, including Instagram, TikTok, YouTube, Minecraft, and Roblox, to recruit accomplices and communicate instructions. These networks are linked to wider criminal organizations, including a group known as “The Com,” highlighting the seriousness of the threat.</p> 
<p data-start="722" data-end="1312">This type of exploitation is part of a growing trend in the crypto space. In 2024, the FBI reported over 17,000 crypto-related scams, with losses exceeding $1.2 billion. Scammers increasingly use social engineering tactics to manipulate platform staff and users. For example, a recent case involved a suspended account attempting to bribe employees through a middleman, offering thousands in crypto to regain access. By exposing and prosecuting these networks, X is setting an example of accountability and deterrence for the entire industry.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">X has exposed and is taking strong action against a bribery network targeting our platform. Suspended accounts involved in crypto scams and platform manipulation paid middlemen to attempt to bribe employees to reinstate their suspended accounts. These perpetrators exploit social…</p> 
 <p>— Global Government Affairs (@GlobalAffairs) <a href="https://twitter.com/GlobalAffairs/status/1969097083530461375?ref_src=twsrc%5Etfw">September 19, 2025</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p data-start="1900" data-end="2267">X has emphasized that ensuring the integrity and security of its platform is a top priority. All employees are trained to recognize and report bribery attempts, and sophisticated monitoring systems are in place to detect suspicious activity. The company is also working closely with law enforcement to strengthen investigations and provide evidence for prosecution.</p> 
<h3 data-start="2269" data-end="2653" id="strong-more-about-crypto-scams-strong"><strong>More About Crypto Scams</strong></h3> 
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       <p data-start="0" data-end="508" data-is-last-node="" data-is-only-node="">On August 19, 2025, a victim fell for a social engineering scam, losing 783 BTC, valued at approximately $91 million. This is after attackers impersonated exchange and hardware wallet customer support.</p> 
       <blockquote class="twitter-tweet"> 
        <p dir="ltr" lang="en">On Aug 19, 2025 a victim fell for a social engineering scam and lost 783 BTC ($91M) after exchange and hardware wallet customer support were impersonated.</p> 
        <p>The stolen funds began to peel off and deposits to Wasabi were made by the threat actor.</p> 
        <p>Coincidentally this theft… <a href="https://t.co/gglShNo2UC">pic.twitter.com/gglShNo2UC</a></p> 
        <p>— ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1958583129356345414?ref_src=twsrc%5Etfw">August 21, 2025</a></p>
       </blockquote> 
       <p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
       <p data-start="0" data-end="508" data-is-last-node="" data-is-only-node="">The stolen funds were gradually moved, with deposits traced to Wasabi, a privacy-focused cryptocurrency service, by the threat actor. Notably, this incident occurred exactly one year after the $243 million Genesis Creditor theft. This underscores the persistent risks of social engineering attacks in the crypto space.</p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies presented are the thoughts and opinions of the writer/reviewers, and their risk tolerance may differ from yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments; therefore, please conduct your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/x-takes-action-against-crypto-scam-operators/">X Takes Action Against Crypto Scam Operators</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

X Takes Action Against Crypto Scam Operators

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