Wallet Guard executive Michael Khekoian stated that since ZachXBT deleted his account, a number of fraudulent accounts have come to light.
Following the deletion of his official account, rumours are making the rounds on social media about several accounts purporting to be well-known blockchain investigator ZachXBT, who is renowned for outing dishonest cryptocurrency projects in public.
Michael Khekoian, the partnership director of Web3 security firm Wallet Guard, alerted his 12,700 followers to the fact that the well-known blockchain investigator is being impersonated in order to defraud people via a post on X (formerly Twitter).
Khekoian clarified that multiple fraudulent accounts surfaced after today’s deactivation of the official ZachXBT profile.
“In the case of ZachXBT, multiple accounts currently exist that mimic his display name, and use the pre-tense of helping the user in order to manipulate an already unfortunate situation to their advantage.”
He also advised users to exercise caution, pointing out that many accounts posing as well-known profiles like ZachXBT usually try to trick users by tricking them into clicking on phishing links and participating in scams.
On X, ZachXBT allegedly deactivated his account for a “unspecified amount of time,” according to a screenshot that a user going by the handle “Nathan.eth” posted on Telegram.
ZachXBT was at the centre of a legal dispute earlier this year as a result of his thorough investigation into Jeffrey Huang, also known on Twitter as MachiBigBrother.
Huang claimed in a tweet on June 16 that he had sued ZachXBT for defamation, saying the latter had ruined his reputation by making untrue claims.
Although Huang did not elaborate on those claims, ZachXBT published an article titled Machi Big Brother: The Story of 22,000 ETH Stolen and Over Ten Projects Failed in June 2022.
ZachXBT received over $1 million in donations from the cryptocurrency community in just two days following the lawsuit’s filing to cover his legal costs.
Contributors included Sandeep Nailwal, the founder of Polygon, Changpeng “CZ” Zhao, the co-founder of Kraken, and Changpeng Zhao, the former CEO of Binance.