X Uncovers Bribery Scheme for Restoring Banned Crypto Accounts
Summary: X social media, owned by Elon Musk, has revealed a bribery network attempting to reinstate suspended crypto accounts. Middlemen offered bribes to X employees on behalf of users banned for scams and market manipulation.
Bribery Network And Methods
- The scheme involved intermediaries rather than direct user-staff contact.
- Targeted accounts were linked to crypto fraud and manipulation.
- Some reports connect the network to a larger cybercriminal group known as "The Com."
The Scale And The Links
- X and law enforcement are investigating the extent of the bribery attempts.
- No specific details on the number of staff approached or accounts reinstated due to bribes.
- Similar tactics reported against other online platforms.
Legal Action And Internal Review
- X has initiated legal proceedings against individuals connected to the network.
- The platform is enhancing internal audits to prevent employee collusion.
- Investigations are ongoing with no public filings yet.
Numbers And Context
- X has suspended approximately 335 million abusive accounts recently to combat scams.
- Industry reports highlight significant losses from crypto phishing and fraud, though not directly linked to this bribery case.
What This Means For Users
- Main risk: reinstated scam accounts could spread phishing links and fraud if internal controls fail.
- X is actively working to prevent harm by pursuing legal action and tightening account approval processes.