Elon Musk’s X targets ‘The Com’ in fight against $2.5B crypto hacks

Key Takeaways

What crypto scams is X cracking down on? 

X says it’s targeting a group linked to suspended accounts of crypto scams that are attempting to bribe its workers for reinstatement. 

Why does X blame ‘The Com’ for being part of the bribery network? 

‘The Com’ is an infamous hacking network known for large-scale crypto heists, recently flagged by the FBI. 

Elon Musk-owned social media platform, X (formerly Twitter), has vowed a crackdown on a ‘bribery network’ linked to crypto scams that’s targeting the site.

In a statement on the 19th of September, the platform decried that some of the suspended accounts have resorted to bribery and manipulation of its team to restore their accounts.  

In response, it promised a ‘strong action’ against the crypto syndicate that has reportedly infiltrated other sites like TikTok, YouTube, Minecraft, and Roblox. 

Source: X

‘The COM’ and increasing risk of crypto hacks

X added that the criminal network has a connection to ‘The Com’ group, a notorious hacking group focused on crypto scams and hacks. 

In July, the FBI issued an alert on the group, warning the public, especially crypto investors and users. The agency added, 

“Open-source information indicates Hacker Com groups are responsible for high-profile attacks and intrusions and have affiliations with ransomware organizations. Cryptocurrency theft is the primary motivator for many Com actors.”

The group uses varied tactics, including phishing (malicious links), to steal victims’ identities and crypto funds. According to the agency, the group is mainly composed of English-speaking users. 

Besides, the North Korean threat actors, which exploited Bybit for $1.5B in early 2025, remain another risk factor for the sector. 

In fact, the number of crypto hacks jumped 15% in August to $163 million, bringing year-to-date stolen funds to over $2.5 billion. 

But the real number of illicit activities flowing through crypto could be bigger. According to Chainalysis, about $40B flowed through criminal addresses in 2024 and could exceed $50B. 

Source: Chainalysis

Although illicit flows made up just 0.14% of total crypto transactions, Chainalysis observed that on-chain criminal activity is becoming increasingly professionalized. 

This trend aligns with the FBI’s alert issued in July, which warned of evolving tactics in crypto-related crime.

Crypto Twitter under fire

Meanwhile, Crypto Twitter remains one of the largest and most influential social communities in the space. 

Its scale and reach make it a critical platform for the legitimate promotion of new protocols, updates, and services.

But it has also been infiltrated with some X users openly promoting projects without proper disclosures, according to Web3 security analyst ZachXBT. 

To combat misleading identity, abuse, and harassment, X reportedly suspended over 5 million accounts in H1 2024. Over 460 million spam accounts were also removed, per a report.  

Going by the latest announcement, it appears that X’s aggressive account suspension affected the crypto syndicate. And it is now fighting back, targeting even some of its employees. 

It’ll be interesting to see how the case evolves and if charges will be pressed against the culprits.