X Exposes Crypto Scam Bribery Scheme Targeting Social Media Platforms

Elon Musk’s social media platform X, formerly known as Twitter, has uncovered a major bribery scheme tied to cryptocurrency scams. According to the company, suspended accounts engaged in crypto fraud attempted to regain access by bribing X employees. The company confirmed that legal proceedings have already begun against the actors involved, underscoring its commitment to platform integrity.

Investigations revealed that the attackers were not limited to X alone. Similar malicious efforts targeted Instagram, YouTube, and TikTok, highlighting the widespread nature of the operation. Some accounts were linked to organized cybercrime groups, including the notorious syndicate known as “the Com.”

X has long battled cryptocurrency-related security incidents. One of the most infamous examples was the July 2020 “Celebrity Bitcoin Hack,” when high-profile accounts such as Elon Musk’s and Bill Gates’ were compromised through social engineering tactics that exploited employee access controls. The platform continues to struggle with bot networks impersonating crypto leaders like Ripple’s Brad Garlinghouse to promote fraudulent schemes.

Despite these recurring challenges, X’s Global Government Affairs team emphasized that the company’s commitment to fighting fraud remains “absolute.” However, critics argue that Musk’s platform still falls short in addressing rampant bot activity and fake accounts.

The latest bribery scandal highlights both the sophistication of modern cybercrime and the ongoing risks within the crypto ecosystem. With legal actions underway, X aims to strengthen user trust and reinforce its defenses against large-scale fraud attempts.

This case serves as a reminder that cryptocurrency scams remain one of the most persistent threats across social media, requiring stronger safeguards and more proactive responses from platforms to protect users.