Fake Accounts of On-Chain Investigator ZachXBT Surface Online
Date: 2023-12-25 Author: Dima Zakharov Categories: IN WORLD
Fake Accounts Impersonating ZachXBT
In a concerning turn of events, fake accounts claiming to be the well-known cryptocurrency investigator ZachXBT have surfaced on various social media platforms. ZachXBT is renowned for publicly exposing fraudulent cryptocurrency projects, making him a target for scammers looking to capitalize on his reputation.
A Warning from Wallet Guard's Michael Hekoyan
Michael Hekoyan, a top executive at the security firm Wallet Guard, has issued a warning regarding these impersonation attempts. He cautioned the public to be vigilant as scammers are posing as bloggers offering fraudulent assistance. This situation arose after the real ZachXBT deactivated his social media account indefinitely.
ZachXBT's Cautionary Telegram Channel
In his Telegram channel, ZachXBT has urged users to refrain from purchasing meme coins that speculate on his name. However, he has not clarified the reasons behind his departure from social media. Earlier this year, ZachXBT faced legal action from entrepreneur Jeffrey Huang, known as MachiBigBrother, who accused him of defamation and reputational damage.
The 2022 Conflict with Machi Big Brother
The conflict between ZachXBT and MachiBigBrother stemmed from a 2022 article in which the investigator accused MachiBigBrother of allegedly misappropriating 22,000 ETH from the cryptocurrency asset management company Formosa Financial in 2018.
Support from Prominent Figures
ZachXBT received support, including financial backing, from prominent figures such as former Binance CEO Changpeng Zhao, Kraken co-founder Jesse Powell, and Polygon co-founder Sandeep Nailwal. In August, the parties reached an amicable resolution of their disputes.
A Reminder of Past Criticism
In November, holders of the meme token GROK criticized ZachXBT's work as an on-chain investigator. Following his investigation, the token's value plummeted to zero. GROK, inspired by Elon Musk's chatbot, was associated with a well-known fraudulent scheme.
These recent events serve as a cautionary tale about the risks of impersonation and fraud in the cryptocurrency space, reminding users to exercise caution and verify the authenticity of accounts and information they encounter online.
