Gate News reports that on March 23, on-chain investigator ZachXBT disclosed that an X account named “Rashid bin Saeed” has been posting false geopolitical information to attract attention, suspected to be preparing for future crypto asset manipulation and pump-and-dump schemes. The account previously spread a so-called “Iran Infrastructure Strike List,” involving energy and nuclear facilities in multiple countries, which went viral.
Investigation shows that this account has changed its name multiple times since 2025 and was verified in February 2026. It currently has over 350,000 followers, but its identity and background are clearly suspicious. ZachXBT pointed out that such accounts often generate high conflict narratives to quickly gain traffic, then shift to promoting low-liquidity tokens to harvest funds.
On-chain data further reveals that a Telegram channel associated with this account is promoting a meme coin called CHIBI, leveraging Elon Musk-related topics to boost exposure. Data shows that CHIBI’s market cap is only about $3.9 million, with a decline of over 23% in the past 24 hours, exhibiting typical high volatility.
This operational pattern closely matches past cases. ZachXBT previously tracked the “Crypto Beast” incident in 2025, where an account manipulated market sentiment via social media, drove ALT tokens higher, then sold off heavily, resulting in a 97% price crash and involving approximately $11 million.
The current market environment amplifies such risks. According to Alternative.me, as of March 23, the crypto fear and greed index dropped to 8, in the “extreme fear” zone, remaining there for over a month. This level of sentiment is comparable to the FTX incident in 2022, indicating that market confidence remains fragile.
In a highly volatile and uncertain environment, false information is more easily amplified and can induce investors to make irrational decisions. ZachXBT warns that before participating in any token trading or project, investors should verify information sources and be cautious of market manipulation driven by hot topics.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Gate Daily (April 17): Musk’s X Money hits a roadblock with New York crypto regulation; Yuga Labs appoints a new CEO
Bitcoin (BTC) is flat at $74,920. A ceasefire between Israel and Lebanon has taken effect, and Trump says Iran agreed not to develop nuclear weapons. Mizuho Bank warns that Musk’s X Money could be affected by New York’s crypto regulation. Yuga Labs replaces its CEO: Greg Solano becomes Chairman of the Board, and Michael Figge takes over. The market is broadly optimistic. A record-high Bitcoin buying wave in the past decade has emerged, suggesting the price may be moving toward $90,000.
MarketWhisper04-17 01:37
Solana and Ripple's 'XRP' Posts Highlight $100M Wrapped XRP Integration
Solana's recent post about "XRP" led to Ripple's reply, influencing XRP's price. This comes amid the launch of wrapped XRP on Solana through Hex Trust and LayerZero, attracting significant liquidity, highlighting an evolving collaboration in the crypto space.
GateNews04-16 11:51
Gate Daily Report (April 16): Tether may have purchased 951 BTC; Virginia enacts crypto property law
Bitcoin continues to rise, reaching $74,630. Tether uses its profits to buy 951 bitcoins. Virginia passes an unclaimed property law, requiring idle cryptocurrency to be transferred to the state government. U.S. stocks are driven by tech stocks, and the S&P 500 index hits a new high. Crypto market dynamics show that investors are paying attention to geopolitical conditions and U.S. monetary policy.
MarketWhisper04-16 01:46
Polygon Launches sPOL to Unlock $3.6B in Staked POL and Boost Staker Rewards
Polygon has launched sPOL, a liquid staking token, enabling greater liquidity for staked POL tokens. Audited for security, sPOL allows stakers to earn rewards while using assets in DeFi, with initial liquidity from the treasury and live pools on Uniswap V4.
GateNews04-15 07:12
XRP Today News: CLARITY Act Pushes Through in May, Standard Chartered Bank Turns Bullish on $8
Ripple CEO Garlinghouse confirmed at the summit that the CLARITY Act’s goal for passage is by the end of May, and said that the controversy surrounding stablecoin yield rates is nearing resolution. If the bill passes, XRP is expected to rise to $5–$10; otherwise, it could fall back to $1.2. The bill’s passage would create a regulatory framework for the digital asset market, clarify XRP’s classification as a commodity, and reduce compliance barriers for institutional investors.
MarketWhisper04-15 02:58
