X crypto scams: X is targeting a bribery network tied to suspended crypto scam accounts that attempt to bribe employees for reinstatement. The platform says it will take strong action against accounts linked to “The Com” and other syndicates using phishing and manipulation to launder stolen crypto.
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X targets a bribery network restoring suspended crypto scam accounts.
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‘The Com’ is named as a linked hacking group flagged in an FBI alert for high-profile crypto thefts.
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Crypto hacks rose 15% in August to $163 million; Chainalysis estimates ~$40B flowed through criminal addresses in 2024.
X crypto scams: X vows to dismantle a bribery network tied to suspended scam accounts and ‘The Com’. Learn how users can protect funds and report abuse.
What is X doing to stop the bribery network?
X crypto scams enforcement now includes investigations into a bribery network that reportedly attempts to pay employees to reinstate suspended scam accounts. X says it will take “strong action” against accounts and syndicates tied to manipulation, bribery, and coordinated phishing campaigns.
How is “The Com” linked to these crypto scams?
“The Com” is described in a public FBI alert as a hacker network responsible for high-profile intrusions and cryptocurrency theft. The agency noted that cryptocurrency theft is a primary motivator for many Com actors and highlighted phishing and identity-theft tactics. Source: FBI (public alert).
Elon Musk-owned platform X (formerly Twitter) announced on 19 September that it identified suspended accounts involved in bribery attempts aimed at internal staff to secure reinstatement. X said the network also operates across other platforms such as TikTok, YouTube, Minecraft, and Roblox, seeking to scale scams and laundering routes.
Source: X
Why does this increase the risk of crypto hacks?
On-chain theft remains a major risk: reported crypto hacks rose 15% in August to $163 million, pushing year-to-date stolen funds above $2.5 billion. Chainalysis reports that roughly $40 billion flowed through criminal addresses in 2024 and warns that illicit flows could exceed $50 billion as criminal methods professionalize. Source: Chainalysis (public reports).
Source: Chainalysis
How has Crypto Twitter been affected?
Crypto Twitter remains a key distribution channel for both legitimate projects and bad actors. X reported aggressive enforcement in H1 2024, suspending over 5 million accounts and removing more than 460 million spam accounts, according to platform reports. Web3 security analysts, including ZachXBT, have flagged undisclosed promotions and impersonation as persistent threats.
According to X, the recent suspensions appear to have disrupted organized syndicates, which then attempted bribery and social-engineering tactics to regain access. The platform is investigating potential legal actions while expanding account-security checks.
How can users protect themselves?
- Enable multi-factor authentication: Use an authenticator app rather than SMS when possible.
- Verify links and addresses: Avoid clicking unverified links and confirm official handles manually.
- Report bribery attempts: Forward evidence to platform support and preserve timestamps and messages.
- Use wallet best practices: Keep seed phrases offline and use hardware wallets for significant holdings.
Frequently Asked Questions
How widespread is the bribery network on social platforms?
The network appears focused on reinstating suspended scam accounts across multiple platforms. X reports targeted bribery attempts; investigations are ongoing across TikTok, YouTube, Minecraft, and Roblox as part of a coordinated effort.
What did the FBI say about ‘The Com’?
The FBI stated that open-source reporting links Com groups to high-profile attacks, affiliations with ransomware groups, and cryptocurrency theft as a primary motive. Authorities warned users and organizations to strengthen defenses.
Key Takeaways
- X targets bribery network: X vows enforcement against accounts attempting to bribe staff for reinstatement.
- ‘The Com’ is linked: FBI alerts identify The Com as a high-risk hacking collective tied to crypto theft.
- User defenses: Enable MFA, verify links, use hardware wallets, and report suspicious activity promptly.
Conclusion
X’s move to dismantle a bribery network tied to suspended crypto scam accounts underscores growing professionalization of on-chain crime. Users should adopt strict security practices and report suspicious activity. COINOTAG will monitor developments and update this report as investigations proceed.
