According to TechFlow, on September 30, the chain detective ZachXBT revealed that British scammers used the X accounts @ape_31 and @60711 to defraud more than 250 users in the past year and made illegal profits of more than $650,000. The main scam methods include:

  1. Post fake P&L screenshots of the Bybit demo account.

  2. Operate news accounts to attract victims to purchase paid services.

  3. Selling "copy trading" services for $250-500.

  4. Induce victims to invest more money for "management".

  5. Once the payment is received, the victim is blocked on Telegram and Platform X.

ZachXBT gave an example of a victim who paid a scammer $500 to copy a trade. The scammer then claimed there was a “zero liquidation price” and asked the victim to invest another $20,000 to trade.