X Tackles Crypto Bribery: Scam Accounts Targeted Employees

X Exposes Crypto Bribery Network Targeting Employees

X has announced a major crackdown on a bribery network connected to crypto scam accounts. The social media platform revealed that suspended users, involved in various fraudulent schemes, attempted to bribe employees through intermediaries to regain access to their accounts. This action threatened the platform's integrity and user safety.

Fraudulent Schemes Exploiting Social Media

According to X's Global Government Affairs, these suspended accounts were exploiting users through scams, many of which involved cryptocurrencies. Instead of following standard reinstatement procedures, the perpetrators allegedly offered bribes to X employees to reactivate their accounts.

X emphasized that this practice violated platform integrity and risked enabling further fraud. The company stated that the suspended accounts were controlled by organized groups engaged in:

• Unlawful investments
• Counterfeit giveaways
• Token pump-and-dump schemes

These scams often start with deceptive advertisements, luring users to websites where their personal information is stolen, resulting in financial losses.

Recent data highlights the prevalence of crypto-related crime. Last month, crypto hacks surged by 15%, with Bitcoin thefts alone totaling $91 million. These figures underscore the significant risks associated with such schemes.

Links to Organized Crime

X's investigation revealed that criminal organizations, including groups like The Com, were connected to the bribery network. These groups allegedly bribed employees to reactivate accounts suspended for suspected scam activities.

The company emphasized that these bribery attempts are part of a broader strategy by malicious actors to weaponize social media platforms and use cryptocurrency as bait.

Legal Action and Increased Security Measures

X stated that legal proceedings are underway against the involved parties and that it is fully cooperating with law enforcement to ensure accountability. The company has a zero-tolerance stance towards bribery and crypto fraud, stating, "Our commitment to ensuring our platform’s integrity is absolute."

Platform Tightens Internal Controls

X has increased its internal controls to prevent insider abuse and will continue to deactivate accounts associated with scams.

The exposure of this bribery network highlights the extent to which fraudsters are willing to go, even attempting to corrupt employees. The recent flagging of a scammer wallet tied to multiple token thefts on Pi Network further illustrates the pervasiveness of these schemes.

X advises users to exercise vigilance, thoroughly research promotions before investing, and double-check accounts promoting investments. Users should also be wary of deals promising unrealistic returns. Community protection requires the combined efforts of both the platform and its users.