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
Crypto Market Momentum – Analyzing Today’s Top Gainers and the Shift in Investor Sentiment
The cryptocurrency market is defined as highly volatile and rapidly evolving, offering a landscape in which a newly developed protocol has the potential to either succeed or fail in the span of 24 hours. Today’s market data from CoinMarketCap reveals a captivating trend: the wider cryptocurrency mar
BlockChainReporter6h ago
Gate contract stock section will launch on April 13 with the first 5 Hong Kong stock perpetual contracts, including Tencent, Xiaomi, Meituan, and others, supporting 1x–20x leveraged trading
Gate News message. According to Gate’s official announcement, Gate contract stock section will be launched on April 13, 2026 at 14:00 (UTC+8) with live trading of TENCENT (Tencent Holdings 00700.HK), XIAOMI (Xiaomi Group 01810.HK), MEITUAN (Meituan 03690.HK), KUAISHOU (Kuaishou 01024.HK), and HKEX (Hong Kong Exchanges and Clearing 00388.HK) perpetual contracts. The trading will use USDT settlement and support 1–20x long and short operations.
Among them, the TENCENT contract is based on Tencent Holdings, the XIAOMI contract is based on Xiaomi Group, the MEITUAN contract is based on Meituan, the KUAISHOU contract is based on Kuaishou, and the HKEX contract is based on Hong Kong Exchanges and Clearing; the price of each contract is denominated in USDT.
GateAnnouncement10h ago
Gate Daily Report (April 13): The CFTC seeks “exclusive regulatory authority” for prediction markets; the FBI report says crypto fraud losses totaled 113.6 billion.
Bitcoin has pulled back from its peak to $71,110. The chair of the U.S. CFTC said it will defend its regulatory authority over prediction markets. An FBI report shows that in 2025, losses from cryptocurrency fraud reached $11.36 billion, with seniors hit the hardest. The market is optimistic in the short term, but you should be mindful of the impact of oil prices and monetary policy.
MarketWhisper13h ago
Today’s Crypto Fear and Greed Index has fallen to 15, and the market is in extreme fear.
Gate News message, April 11, Alternative.me data shows that today’s Crypto Fear and Greed Index dropped to 15; yesterday, the index was 16, and the market is in a “Extreme Fear” state.
GateNews04-11 00:42
Crypto Sector Wavers As Geopolitical Tensions Influence Market Performance
The crypto market has seen a 1.14% decline, with Bitcoin and Ethereum experiencing slight gains. Top gainers include PEPE and IRISnet. DeFi TVL increased, while NFT sales dropped. Notable events include xAI suing Colorado and South Korea tightening crypto regulations.
BlockChainReporter04-10 12:45
Gate Daily Report (April 10): U.S. Treasury Secretary supports sending the “CLARITY Act” to President Trump; WLFI’s $75 million stablecoin-backed loan sparks panic
Bitcoin surged in the short term to $71,830 before pulling back. U.S. Treasury Secretary Bessent advancing the “CLARITY Act” faces challenges that could affect stablecoin legislation. WLFI borrowed $75 million in stablecoins, raising liquidation risk. U.S. stocks rose on expectations of peace talks, and market sentiment is optimistic, but liquidity in capital flows still needs improvement.
MarketWhisper04-10 01:37
