Influencer Accused of Scam Tactics

On-chain investigator ZachXBT has accused popular crypto influencer Ansem of using shady tactics to manipulate memecoin prices. The dispute began when Murad Mahmudov, a known figure in the crypto space, commented on the rise of memecoins, sparking debates about their impact on the market. Mechanism Capital’s Andrew Kang then suggested that Mahmudov’s remarks could fuel a new wave of investments in these speculative assets. ZachXBT entered the conversation and called out Ansem for unethical practices, causing a Twitter storm.

ZachXBT didn’t hold back, accusing prominent influencers like Ansem of pushing low-cap memecoins for profit because they lack genuine trading abilities. According to him, these influencers use their large followings to inflate prices, only to abandon the projects later. This leaves average investors stuck with worthless tokens. He argued that influencers with massive reach can easily manipulate the price of minor crypto projects, creating brief surges that often end in losses for ordinary buyers.

Ansem quickly defended himself, stating that promoting smaller coins is legitimate and even bragged about his involvement in WIF, a memecoin that surged from $100,000 to $5 billion. He dismissed Zach’s claims, pointing out that he’s been transparent and has provided more value to his followers than harm. However, ZachXBT countered by highlighting the numerous tokens Ansem had previously supported, many of which crashed, proving to be short-lived schemes.

The clash between the two reveals a bigger issue within the crypto community—how much influence these personalities wield over market movements. While some see influencers as merely catering to trends, others view it as blatant exploitation of their audiences. Memecoins, though risky, attract huge attention, and influencers’ endorsements can lead to sharp price swings. ZachXBT, known for exposing fraud, argues that such practices are harmful and deceptive, despite the supposed “opportunities” influencers claim to offer.

The debate centers around the ethical boundaries of promoting cryptocurrencies. ZachXBT positions himself as a watchdog, aiming to protect investors and recover stolen funds, whereas Ansem sees himself as a trader sharing opportunities. The ongoing argument underscores a critical question: when does sharing a new investment idea cross into manipulation? In the relatively unregulated crypto world, the line between the two is often blurred.

As the argument seemed to settle, Ansem dismissed Zach’s concerns as exaggerations, suggesting they could debate memes forever. But the damage was already done. This public feud has exposed the often murky strategies used by crypto influencers and highlighted the dangers of following advice from high-profile figures without caution.