On-chain detective ZachXBT has uncovered a series of X (Twitter) accounts dedicated to Schilling meme coins. These X accounts are reportedly controlled by a single individual.
This person used these accounts to collect meme coins such as ANALOS, BALLZ, and CATDOG. Furthermore, there are rumors that he was involved in the promotion of Polkadot (DOT).
16 X individual Shills meme coins via account
ZachXBT reported that the X account “ardizor” is linked to 16 other accounts, most of which are marked with a blue confirmation checkmark. These accounts have tens to hundreds of thousands of followers.
Read more: Who is ZachXBT, the crypto detective who exposes fraud?
X accounts related to Ardizor. Source: ZacXBT.
The Ardizor account currently has over 375,000 followers and the Telegram channel has over 172,000 participants. Despite the initial promotion of meme coins such as ANALOS, BALLZ, and CATDOG, the value of these tokens has since plummeted.
Furthermore, many of these accounts are believed to be participants in the controversial Polkadot (DOT) marketing campaign in early July. In the first half of 2024, the project allocated $36.7 million for advertising and payments to key opinion leaders (KOLs).
Furthermore, an X account named Wazz claimed that Ardizor was also one of the KOLs paid by this campaign.
“Everyone is talking about the DOT marketing campaign, but how did the Ardizor group of fraudsters manage to connect five to six Twitter accounts under his control to multiple transactions worth over $400,000? “No one was talking about what happened,” Wass claimed.
Was noticed that all these accounts had the same style and were constantly retweeting and promoting each other. ZachXBT also agreed with Wazz’s findings and reaffirmed the group’s connection to the DOT campaign.
Read more: Crypto fraud projects: How to spot fake tokens
Additionally, there are other challenges to the memecoin ecosystem. Many celebrities, including Cardi B, have introduced their own meme coins. However, most of these celebrity-backed meme coins tend to drop significantly in value in a short period of time.
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