Blockchain investigator ZachXBT warns about an X account named “Rashid bin Saeed” suspected of being a fake identity used to attract engagement and lead users into “pump-and-dump” schemes in the cryptocurrency market. This account previously spread shocking information related to geopolitical tensions to attract hundreds of thousands of followers.
Although it has over 353,000 followers, the account was only verified in February 2026 and has changed its name multiple times. A related Telegram channel also promoted the meme coin CHIBI, which has a low market cap and dropped more than 23% in 24 hours.
According to ZachXBT, this is a familiar pattern: building followers with sensational content, then shifting to promote low-liquidity tokens to sell off. The warning comes as the Crypto Fear and Greed Index drops to “extreme fear,” increasing the risk of market manipulation.
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.
