Onchain investigator ZachXBT has revealed evidence suggesting crypto influencer Ashcrypto (also known as AshWSB) publicly promoted the ROYA token while secretly buying more for himself, creating a potential conflict of interest.
Key Takeaways:
- ZachXBT alleged that Ashcrypto ran several pump-and-dump schemes on illiquid CEX-listed altcoins.
- Evidence shows Ashcrypto called ROYA publicly, then told followers he was “holding 100%” while selling.
- The allegation is amongst other similar influencer-based manipulations that have continued into 2026.
The ROYA Incident
Ashcrypto, who has over 2.1 million followers on X, made a public call for ROYA, the native token of decentralized lending platform Royale Finance, on a centralized exchange ( CEX). Within hours, he acted puzzled and messaged “who the f is selling like this” on his premium investment channel, while separately telling followers that his team was “holding 100% of our roya + buying more here.”
This tactic—promoting a token to create excitement, publicly expressing confidence to attract investors, and then quickly selling off holdings—is a classic pump-and-dump scheme. It’s happened many times before, and social media often plays a big role in spreading the hype, rather than just activity directly on the blockchain.
ZachXBT made clear that ROYA is not an isolated case, stating that Ashcrypto “ran similar pump-and-dump schemes for illiquid alt tokens on CEXs” repeatedly. Illiquid, centralized-exchange-listed tokens are particularly vulnerable to this structure since small order sizes can move prices meaningfully, making it easier for a large-following influencer to generate real short-term demand from a single public call.
A Larger Scheme at Hand
In early 2026, the investigator brought attention to a problem with the RAVE token. A group appeared to control the vast majority of RAVE tokens in circulation—over 90%—and artificially inflated the price by 6,000% before a sudden crash wiped out $6 billion in just two days. This led Binance and Bitget to launch official investigations.
Similarly, earlier in May, ZachXBT flagged a U.S. law firm (Gerstein Harrow) for filing claims to seize $71 million in ethereum frozen after the April 2026 KelpDAO exploit, using a 2015 legal judgment to jump ahead of actual hack victims in any recovery queue.
The accusations against Ashcrypto, while smaller in scope than the RAVE scandal, are similar in that they involve using social media influence to artificially inflate prices. This benefits the person promoting the investment while potentially harming their followers who take their advice. As of now, Ashcrypto hasn’t publicly addressed these claims.
Read More
- Silver Rate Forecast
- Gold Rate Forecast
- USD ILS PREDICTION
- Brent Oil Forecast
- XRP’s Shocking 51,209% Liquidation Imbalance: Saylor’s One-Word Bitcoin Verdict and Cardano Founder’s Scam Alert
- How Bitmine’s Insatiable Ethereum Appetite Is Stirring the Crypto Tea ☕🐳
- 🎄 Crypto’s Festive Flops: Why These Tokens Are More Grinch Than Santa! 🎁
- Moneygram and Stellar Expand USDC Push Amid Stablecoin Growth
- Crypto King Silbert: From “What’s a Bitcoin?” to “I’m Rich AF” in 11 Years
- Brazil’s Bold Move: Is Predicting the Future Now a Crime?
2026-05-05 00:57