X Sues Men Over $277K Fake News Scam on Creator Fund
X has filed a lawsuit in London against two men accused of running a network of fake Bitcoin news accounts to scam payouts from X's creator fund.
The alleged scheme, uncovered by X, targeted at least $277,000 in payouts and involved nine accounts pushing out 'breaking' headlines that often matched word for word and landed on X within seconds of one another.
The fake news network made unverified claims about major financial players, such as Goldman Sachs' CEO promoting a crypto bill or Citibank buying $12.6 million in Bitcoin.
X terminated the accounts on August 18, citing 'coordinated revenue sharing fraud and platform manipulation.'