ZachXBT exposes fake war accounts: exploiting Iran panic to promote scam tokens

Blockchain investigator ZachXBT revealed on March 23 that an X (Twitter) account named “Rashid bin Saeed” is a fabricated fake identity, created to rapidly accumulate followers by posting sensational war-related content, then directing the audience to pump and dump cryptocurrencies.

Three Key Indicators of Fake Accounts

ZachXBT disclosed that the “Rashid bin Saeed” account exhibits multiple typical fake account features, which are crucial for identifying such manipulation accounts:

Unusually Rapid Verification Status: The account shows a location in the United States but only received verification in February 2026, which is inconsistent with the account’s displayed “history.”

Multiple Username Changes: Since January 2025, the account has changed its username more than three times, a common tactic used by scam accounts to evade tracking.

Unusually High Follower Count: Despite these suspicious traits, the account has amassed 353,000 followers, which is disproportionate to its account history.

Meanwhile, a Telegram channel possibly linked to this account is promoting a meme token called Chibification (CHIBI), bundling it with posts related to Elon Musk. According to CoinGecko data, CHIBI has a market cap of only about $3.9 million and has plummeted over 23% in the past 24 hours, fitting the typical price pattern after a pump and dump.

Analysis of the Scam Mechanism: “Gather Followers → Create Panic → Promote Token”

(Source: X)

ZachXBT has repeatedly documented manipulation patterns that are highly consistent with this incident. Scam accounts typically start by posting sensational content (geopolitical threats, major market events, etc.) to rapidly accumulate a large audience in a short period. Once sufficient trust and followers are established, they shift to promoting low-market-cap tokens with poor liquidity, organizing planned sell-offs using the followers’ trust, causing late buyers to suffer losses.

ZachXBT previously exposed a similar case in July 2025, tracking a token sell-off worth $11 million, orchestrated by influencer “Crypto Beast,” who used interactive marketing strategies to cause a 97% price collapse of ALT tokens.

Fear Index 8: Why Extreme Panic Is the Best Window for Scams

On March 23, the crypto Fear and Greed Index hit 8, with the market remaining in “Extreme Fear” for over 34 days—one of the longest fear cycles since the FTX collapse at the end of 2022.

In a fear-dominated market, users’ ability to discern “important information” diminishes. Sensational war or crash warnings are more likely to be shared and discussed. Scammers exploit this psychological trait by spreading false urgent news to quickly gain credibility, then leveraging that trust to promote tokens. Geopolitical tensions (Iran conflicts, Strait of Hormuz crisis) further amplify the demand for “authoritative alert accounts,” increasing the effectiveness of such manipulation tactics.

Frequently Asked Questions

Q: How does ZachXBT identify that “Rashid bin Saeed” is a fake account?
A: The identification is based on: verification date (February 2026) inconsistent with claimed history; more than three username changes since January 2025 (a typical anti-tracking tactic); and related Telegram accounts promoting CHIBI meme tokens for pump and dump schemes.

Q: Why does an extreme fear market environment particularly facilitate crypto scams?
A: In extreme fear, investors are less critical of “urgent warnings,” leading to increased sharing of sensational content. Scammers leverage this to rapidly build followers. Additionally, market downturns make some users eager for “rebound opportunities,” making token promotions more likely to attract buyers.

Q: How can one identify and avoid similar crypto scam accounts during market volatility?
A: Key methods include verifying if the account’s verification date and follower growth are abnormal; tracking frequent username changes; checking the on-chain liquidity and market cap of promoted tokens; and consulting reports from investigators like ZachXBT before participating in any token promotion.