Blockchain investigator ZachXBT identified an X (Twitter) account called “Rashid bin Saeed” as a fake persona created to farm engagement and potentially funnel followers into crypto pump-and-dump operations.
The account posted a viral thread claiming Iran had published a list of specific civilian infrastructure targets it would strike if the United States attacked its power grid. The post named 12 facilities across six countries, including desalination plants, nuclear sites, and power stations.
Fabricated Threats, Real Scams
Despite the blockchain investigator’s claims, the account boasts a massive following, reaching upwards of 353,000. However, the account shows it is based in the US, but has only been verified since February 2026 and has had three username changes since January 2025.
On Telegram, a possibly related account touts meme coin Chibification (CHIBI), associating it with Elon Musk-related posts. Meanwhile, data on CoinGecko shows CHIBI has a low market cap of just over $3.9 million, and is down by over 23% in the last 24 hours.
Look another fake Shiekh larp account used to farm engagement and promote crypto pump & dumps pic.twitter.com/8TVg3rr56e
— ZachXBT (@zachxbt) March 23, 2026
The accusation follows a pattern ZachXBT has documented repeatedly. Fake accounts post sensationalist content to quickly attract large followings.
Once the audience is built, these accounts pivot to promoting low-liquidity tokens, enabling coordinated dumps on unsuspecting buyers.
ZachXBT has previously exposed similar schemes, including a July 2025 investigation that traced an $11 million token dump to influencer “Crypto Beast,” who used engagement farming tactics before orchestrating a 97% price collapse in the $ALT token.
1/ An investigation into how @cryptobeastreal scammed followers by lying they were not behind the $190M -> $3M $ALT market cap crash where 45+ connected insider wallets sold $11M+ on July 14, 2025. pic.twitter.com/AmnY1xux7a
— ZachXBT (@zachxbt) July 22, 2025
Extreme Fear Dominates Market Sentiment
The scheme surfaces as the crypto market enters one of its most fearful periods in years. The Crypto Fear and Greed Index on Alternative.me registered a reading of 8 on March 23, matching levels last seen during the FTX collapse in late 2022.
Crypto Fear and Greed Index chart showing extreme fear reading, Source: Alternative.me
The prolonged fear streak, now exceeding 34 consecutive days in extreme fear territory, creates fertile ground for manipulation.
Fearful markets tend to amplify sensational narratives, giving engagement-farming accounts more reach and making their eventual token promotions more effective.
Geopolitical tensions and broader macroeconomic uncertainty continue to weigh on sentiment, leaving crypto-specific narratives overshadowed by global events.
Against this backdrop, ZachXBT’s warning serves as a reminder to verify accounts and claims before engaging with promoted tokens during periods of heightened volatility.
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