Political Tokens and Weak Oversight Fuel Crypto’s Scam

Crypto News Exploits

Political Tokens and Weak Oversight Fuel Crypto’s Scam, Blockchain Sleuths Say

Written by Aaron S.,

Editor-In-Chief

Last Updated: June 20, 2025

Key Takeaways

Political meme coins, poor oversight, and dropped cases are fueling a rise in crypto scams, according to blockchain investigators;
ZachXBT warned that influencers can promote shady tokens with little risk, while only direct theft tends to face real consequences;
Taylor Monahan said crypto scammers stay active because it is easy, profitable, and rarely leads to social, legal, or financial penalties.

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Political Tokens and Weak Oversight Fuel Crypto’s Scam, Blockchain Sleuths Say

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Blockchain investigators shared that a new wave of crypto-related scams is driven by political meme coins, weak regulation, and dropped legal cases.

On June 19, ZachXBT shared on X that dishonest behavior in the industry is a concern, as public figures and influencers who promote questionable projects often face no consequences.

He noted that some crypto creators can mislead followers and still avoid any real punishment.

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Still, ZachXBT pointed out that there is a difference in how certain actions are treated. More direct forms of theft, such as phishing, wallet hacking, or online robbery, are still likely to bring legal trouble.

He explained that, compared to gray-area activities like misleading promotions, clear-cut crimes are more likely to be punished.

He also said regulators have often focused on the wrong targets. Rather than pursuing projects that hide paid promotions or mislead buyers, officials have instead spent time investigating open-source developers and established platforms.

Another investigator, Taylor Monahan, shared in a June 18 post on X that bad actors in crypto are unlikely to stop as long as they can make money quickly and face few consequences.

Monahan also mentioned that many long-time scammers have made major profits using methods such as fake online relationships, malware, or even tools linked to nation-state hackers. She said that if crypto ceased to exist, ransomware groups would take the biggest hit.

On June 10, Bitget $787.19M , SlowMist, and Elliptic reported a rise in crypto scams, with deepfake technology playing a major role. What did they say? Read the full story.