Fake Bitcoin Liquidation Scam Exposed on Social Media
A Bitcoin short-seller staged a fake $6 million liquidation to attract followers and clout, but their stunt was eventually exposed by basic fact-checking.
The influencer, Laanie, posted fake evidence of a leveraged wipeout on social media, which garnered hundreds of thousands of views. However, the claim was deleted just hours later after some users pointed out that the trading display shared by Laanie had Bybit's Demo mode enabled.
Bybit's Demo mode is a simulated account feature that auto-creates a virtual portfolio for every user, allowing them to adjust funds and flip to live trading with a single toggle. The demo mode produces the same liquidation math and shareable screenshot as a genuine trade, but the underlying capital never exists.
The fake claim was plausible at first glance, given Bitcoin's 17% rally on August 19 and the large leverage offerings of Bybit. However, skeptics quickly pointed out that Laanie's screenshots cropped out the webpage tab, indicating their use of Bybit's Demo mode.