In the middle of rising US-Iran tensions, scammers are exploiting fear and uncertainty to lure users into crypto scams on social media. As unveiled by crypto sleuth ZachXBT, a new kind of crypto scam has come to light on the X platform.
Expert Exposes Panic-Driven Fraud Network on X
On-chain investigator ZachXBT has identified a coordinated network of social media accounts on X. The sleuth noted that these crypto scams used war-related and political posts to promote crypto scams.
Reportedly, the group relied on fear-driven content during ongoing US-Iran war tensions. As the public remains cautious about the ongoing developments in the Middle East issues, scammers took advantage of the situation. ZachXBT noted,
It is worth noting that the scammers targeted users who are emotionally invested in the ongoing conflicts. As the US-Iran war has entered its fourth week, no signs of a resolution are seen. Using fear and uncertainty to manipulate them, the scammers lured them into engaging with fraudulent crypto offers and scams.
Analyzing the Scam Playbook
According to his findings, the scammers bought accounts with existing followers and posted frequent, alarming updates about war and politics. These posts were designed to generate engagement and draw in users already following breaking news. Once the accounts gained traction, they shifted focus to promoting fake giveaways and pump-and-dump crypto schemes.
ZachXBT noted that the operation followed a clear pattern, with multiple linked accounts reposting the same content to boost reach. The group also changed usernames regularly to avoid detection, making it harder to track their activity. On-chain data suggests the network earned significant profits through these coordinated scam campaigns.
These panic-driven crypto scams are emerging as another major fraudulent activity in the digital asset space. This is followed by the rise in crypto ATM hacks. CoinGape recently reported that Minnesota proposed banning Bitcoin ATMs as scams surge.
The investigator also added that almost 10 X accounts promoted the pump-and-dump crypto scam ORAMAMA on February 22, 2026. It is also worth noting that these accounts have never mentioned it again.
Via these pump-and-dump schemes, the scammers earned six figures, stated ZachXBT. The sleuth suspects that the same accounts may be building engagement again in preparation for another scam.
Source: https://coingape.com/us-iran-war-related-panic-is-being-used-for-crypto-scams-zachxbt/
