X Platform Exposes $91M Crypto Bribery Plot Threatening User Security
X has uncovered a sophisticated bribery network that allowed suspended users tied to crypto scams to get back in illegally.
Quick overview
- X has uncovered a bribery network that allowed suspended users from crypto scams to regain access to their accounts illegally.
- The platform is collaborating with law enforcement to dismantle these operations and has tightened internal controls to prevent employee collusion.
- Users are advised to be cautious of deceptive promotions and verify investment accounts to protect themselves from scams.
- X emphasizes its commitment to maintaining platform integrity and will not tolerate bribery or crypto fraud.
X has uncovered a sophisticated bribery network that allowed suspended users tied to crypto scams to get back in illegally. According to Global Government Affairs, these accounts were suspended for scamming users through fraudulent schemes, including token pump-and-dump and fake giveaways.
Instead of going through the platform’s official reinstatement process, the offenders allegedly funneled money to middlemen who tried to bribe employees to get their accounts back. X said this poses a threat to the platform and enables more criminal activity.
- Bribed employees might inadvertently facilitate scams.
- Suspended accounts were part of organized crypto fraud rings.
- Threats included account manipulation and financial deception.
The platform is working with law enforcement and taking legal action to take down these operations.
Crypto Fraud on the Rise
Criminal networks are using social media to target users. Fake ads lure people to malicious websites where cybercriminals steal personal info and funds. Last month alone, crypto hacks rose 15% with $91 million in Bitcoin stolen, that’s how big the threat is.
X said these rings go beyond their platform, using multiple sites to reach more people. Groups like “The Com” have been linked to several high profile cyber fraud cases. The bribery scheme shows that bad actors will go to any length to continue their operations.
- Users are targeted through deceptive promotions.
- Scammers use social engineering to get to funds.
- Insider bribery makes the threat bigger.
Strengthened Controls and User Awareness
In response, X has tightened internal controls to prevent employee collusion and maintain platform integrity. Suspended accounts connected to scams will remain deactivated and legal action against bribery participants is underway.
X advises users to be cautious: review promotional content, verify investment accounts and avoid offers that promise unrealistic returns. Community protection requires collaboration between the platform and its users.
“Bribery and crypto fraud will not be tolerated,” X said. “Our commitment to platform integrity is unwavering.” This is a bigger move to protect social media ecosystems from financial threats.
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