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On-chain sleuth ZachXBT revealed a series of X (Twitter) accounts specializing in shilling meme coins. Allegedly, a single individual controls these X accounts.
The person has used these accounts to shill meme coins like ANALOS, BALLZ, and CATDOG. Additionally, rumors suggest they were also involved in promoting Polkadot (DOT).
Individual Shills Meme Coins Through 16 X Accounts
ZachXBT reported that the X account “ardizor” is linked to 16 other accounts, most displaying blue verification checkmarks. These accounts have large followings, ranging from tens of thousands to several hundred thousand followers.
Read more: Who Is ZachXBT, the Crypto Sleuth Exposing Scams?
The Ardizor account currently has over 375,000 followers and a Telegram channel with more than 172,000 participants. Despite their initial promotion of meme coins like ANALOS, BALLZ, and CATDOG, the value of these tokens has since plummeted.
Moreover, many of these accounts are believed to be the participants of the Polkadot (DOT) marketing campaign, which sparked controversy in early July. In the first half of 2024, the project allocated $36.7 million for advertising and payments to key opinion leaders (KOLs).
In addition, an X account named Wazz has claimed that Ardizor is also one of the KOLs paid by this campaign.
“Everyone talking about the DOT marketing campaign. But no one talking about how the Ardizor scamfluencer ring managed to get 5-6 of his controlled Twitter accounts into multiple $400,000+ deals,” Wazz alleged.
Wazz noticed that all these accounts had the same style, always retweeting and promoting each other. ZachXBT also agreed with Wazz’s findings, reaffirming that this group was related to the DOT campaign.
Read more: Crypto Scam Projects: How To Spot Fake Tokens
Moreover, there are other challenges with the meme coin ecosystem. Many celebrities, including Cardi B, have introduced their own meme coins. However, most of these celebrity-backed meme coins tend to drastically drop in value within a short time span.