US Politicians May Have Fueled The Continuous Crypto Fraud, Theft Supercycle Zach XBT States
Crypto detective ZachXBT has sent out a warning this week about what he calls a ‘crime supercycle’ within the crypto space. Hacks, rip-offs, thefts, and even outright wrench attacks have taken over the crypto area, particularly this year. These coins, which are often hyped through social media and promoted without proper disclosure, have been a huge source of speculative capital within the crypto area.
The increase of meme coins and their endorsement from politicians is a major catalyst for these rip-offs and pump-and-dump plans. Hacks, rip-offs, thefts, and even outright wrench attacks have taken over the crypto area, especially this year. Everybody including influencers, YouTubers, and even designers with previous ties to genuine projects are becoming bolder, and the frauds will only get worse up until reforms are presented.
According to cybersecurity firm Certik, over $2.1 billion has been lost to hacks and frauds in 2025 alone. Additional data from Hacken’s April report reveals $96 million lost to phishing scams and over $300 million to rug pulls in Q1 of this year. Everyone including influencers, YouTubers, and even developers with past ties to legitimate tasks are becoming bolder, and the frauds will just get worse up until reforms are presented.
