The blockchain ecosystem continues to witness notable events, with the recent suspension of blockchain researcher ZachXBT’s official account on social media platform X. Following this suspension, multiple impersonating accounts emerged, sparking discussions on social media about the potential for ongoing scams.
Michael Khekoian, the partnership director of Web3 security firm Wallet Guard, alerted followers on platform X about fake accounts using ZachXBT’s name to deceive investors. He emphasized that these accounts aim to manipulate a regrettable situation by pretending to assist users, leveraging the pretense of helping to exploit them.
Khekoian reported several fake accounts surfacing after ZachXBT’s account was disabled. He warned users to be cautious of these impersonators, who are trying to lure victims into clicking phishing links and participating in scams. An X account by the name of Nathan eth claimed, via a Telegram screenshot, that ZachXBT’s account had been suspended indefinitely.
Earlier this year, ZachXBT was involved in a legal battle following his meticulous investigation into NFT whale Jeffrey Huang, known as MachiBigBrother. Huang accused ZachXBT of defamation and filed a lawsuit against him for allegedly damaging his reputation with false claims.
Although Huang did not specify the allegations, an article by ZachXBT published in June 2022 detailed the misappropriation of 22,000 ETH and the failure of over ten projects associated with Jeffrey Huang’s story. Just two days after the lawsuit was announced, ZachXBT raised over $1 million in donations from the crypto community to cover legal fees, with notable contributors including the former CEO of Binance, Changpeng Zhao, and the co-founder of Kraken and founder of Polygon, Sandeep Nailwal.
The incident highlights the ongoing challenges within the blockchain community, where the prevalence of scams and impersonation attempts necessitates increased vigilance among users to protect themselves and their investments.