X Blows The Lid Off Bribe Scandal In Crypto Account Restorations

Source Newsbtc

The Elon Musk-owned X social media platform has gone public with claims that a bribery network tried to pay its staff to bring back suspended crypto accounts. According to the company, middlemen acted on behalf of banned users, offering money to insiders in hopes of overturning account suspensions tied to scams and market abuse.

Bribery Network And Methods

Based on the company posts and follow-up reporting, the scheme did not involve direct contact between banned users and staff. Instead, intermediaries were paid to make offers and set up meetings with employees.

Reports have disclosed that the operation targeted accounts tied to crypto fraud and coordinated manipulation. Some outlets say the network is linked to a wider cybercriminal group known in reporting as “The Com.”

 

The Scale And The Links

Law enforcement and platform teams are now looking into how broad the effort went. X’s Global Government Affairs team said it had identified multiple attempts, but did not list names or say how many staff were approached or whether any account was actually restored because of payments.

Reports also connect the scheme to other online spaces; investigators say similar tactics have been used against other social services and gaming communities.

Legal Action And Internal Review

Based on reports, X has opened legal proceedings against people tied to the network and is working with outside authorities to share evidence.

The GGA also says it will step up internal checks and audits to reduce the chance of employee collusion. At this stage, public filings or indictments have not been posted; the investigations are ongoing.

Numbers And Context

The platform has said it suspended hundreds of millions of abusive accounts in recent months — a figure some posts put at 335 million — as it moved to curb scams and bad actors on the site.

Broader industry reports also note large losses from crypto phishing and fraud in recent periods, though those totals come from different compilations and are not tied directly to the bribery ring described by X.

What This Means For Users

For everyday users, the key risk is that banned accounts tied to scams could be brought back if internal controls fail.

Reinstated scam accounts can spread phishing links, false giveaways, and other fraud quickly. Reports say X is trying to limit harm by pursuing wrongdoing in court and tightening how account actions are approved.

Featured image from Unsplash, chart from TradingView

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Stocks, dollar, gold, oil, and Bitcoin show diverging moves post-Fed rate cutU.S. stocks moved unevenly after the Fed's rate cut, with Dow rising but S&P 500 and Nasdaq slipping.
Author  Cryptopolitan
Sep 18, Thu
U.S. stocks moved unevenly after the Fed's rate cut, with Dow rising but S&P 500 and Nasdaq slipping.
placeholder
Crypto OI Shows Mixed Trend: Bitcoin, Solana Down, While Ethereum, XRP UpA divergence has formed in the crypto futures market during the past week as Bitcoin and Solana have seen deleveraging against the others. Bitcoin, Solana Have Seen A Drop In Perpetual Futures Open Interest In a new post on X, on-chain analytics firm Glassnode has talked about the latest trend in the Open Interest for […]
Author  Bitcoinist
Sep 19, Fri
A divergence has formed in the crypto futures market during the past week as Bitcoin and Solana have seen deleveraging against the others. Bitcoin, Solana Have Seen A Drop In Perpetual Futures Open Interest In a new post on X, on-chain analytics firm Glassnode has talked about the latest trend in the Open Interest for […]
placeholder
Forex Today: BoJ’s hawkish twist lifts Japanese Yen, focus shifts to Trump-Xi callThe US Dollar (USD) sustain its recovery, fuelled by the US Federal Reserve’s (Fed) cautious interest rate cut on Wednesday.
Author  FXStreet
Sep 19, Fri
The US Dollar (USD) sustain its recovery, fuelled by the US Federal Reserve’s (Fed) cautious interest rate cut on Wednesday.
placeholder
Solana (SOL) Extends Rally to Seven-Month High; $250 Resistance in FocusSolana is extending its uptrend that began in early August, pushing the altcoin to a fresh seven-month high. 
Author  Beincrypto
Sep 19, Fri
Solana is extending its uptrend that began in early August, pushing the altcoin to a fresh seven-month high. 
placeholder
Dogecoin’s First ETF Joins Year’s Top Launches With Explosive DebutDogecoin’s (DOGE) first US spot exchange-traded fund (ETF), listed under the ticker DOJE, made a striking debut.
Author  Beincrypto
Sep 19, Fri
Dogecoin’s (DOGE) first US spot exchange-traded fund (ETF), listed under the ticker DOJE, made a striking debut.
goTop
quote