Blockchain investigator ZachXBT has discovered a complex crypto pump and dump scam operation masquerading behind an X viral war alert account. The “Rashid bin Saeed” account, which had over 353,000 followers, created fabricated thread claims that Iran had issued specific civilian infrastructure targets for retaliatory attacks. The account grew its follower base by leveraging fear and misinformation.
How the Phony Profile Led To Scams
The phony account, which was created in the United States and verified in February 2026, had three changes to the username and began using it to farm an audience before promoting low-market-cap coins. In conjunction with a Telegram channel associated with the meme-based coin called Chibification (CHIBI), the phony account referenced posts related to Elon Musk in an effort to drive hype.
ZachXBT has documented a repeatable trend for scammers to create fake profiles to rapidly obtain a significant following, create a “rapidly increasing value of a token” that will eventually result in the orchestrated sale of those tokens (dump) on unsuspecting people (buyers). One example of this was documented in July of 2025, where he was able to trace a scammer creating an audience for a social media influencer called “Crypto Beast,” who was responsible of wiping out around USD 187 million in market cap in a couple of hours, this dump of the ALT token (from USD 0,19 to USD 0,003) caused a 97% crash in value, using similar tactics.
Fear in the Crypto Market
This exposé has come out just as the Crypto Fear and Greed Index reads as “Extreme Fear“ with a score of 8, showing an already vulnerable market to be manipulated. Geopolitical tensions are not showing signs of getting easier; on the contrary, analysts expect an escalation in the U.S.-Israel-Iran war, threatening world economic “stability.”
