TL;DR
- Undisclosed Deals: ZachXBT found over 200 influencers offered paid token promotions, with most failing to disclose sponsorships.
- Investor Risk: Hidden endorsements can mislead retail buyers into purchasing during hype cycles, risking losses.
- Accountability Push: Findings fuel calls for stricter self‑regulation and clearer sponsored content labeling in crypto.
Blockchain investigator ZachXBT has revealed extensive evidence that more than 200 crypto influencers were approached for a coordinated token promotion campaign, with the majority failing to disclose they were paid. The findings, shared in a detailed spreadsheet on X, expose a lack of transparency that could mislead retail investors and fuel market volatility.
NEW LEAK: Price sheet of 200+ crypto influencers and their wallet addresses from a project they were recently contacted by to promote.
From 160+ accounts who accepted the deal I only saw <5 accounts actually disclose the promotional posts as an advertisement. pic.twitter.com/Kph9dUvDxB
— ZachXBT (@zachxbt) September 1, 2025
Evidence of Undisclosed Promotions
According to ZachXBT’s report, the spreadsheet contained per‑post pricing ranging from hundreds to five‑figure sums in U.S. dollars, along with Solana wallet addresses used for payments and links to on‑chain transaction confirmations. Of the roughly 160 influencers who agreed to participate, fewer than five complied with disclosure requirements. This omission runs counter to U.S. Federal Trade Commission guidelines, which mandate clear statements of material connections to avoid misleading audiences.
Regulatory and Ethical Concerns
The revelations underscore persistent challenges in enforcing advertising standards in the fast‑moving crypto sector. While the FTC has rules in place, the decentralized nature of blockchain and the global reach of influencers make oversight difficult. Failure to disclose paid endorsements not only risks regulatory penalties but also erodes trust between influencers and their audiences, particularly when promoting low‑liquidity tokens that can be prone to sharp price swings.
Impact on Retail Investors
Undisclosed promotions can distort market perceptions, leading retail investors to believe that influencer endorsements are organic rather than financially motivated. This can result in uninformed buying during artificially inflated hype cycles, often followed by steep losses when token prices correct. ZachXBT’s findings highlight how coordinated campaigns can exploit information asymmetry to the detriment of less experienced participants in the market.
Call for Greater Accountability
The investigation adds to growing calls for transparency and accountability in crypto marketing. Industry observers argue that influencers should adopt stricter self‑regulation, while platforms could implement clearer labeling for sponsored content. Without such measures, the risk remains high that similar campaigns will continue to manipulate sentiment and undermine confidence in the broader digital asset ecosystem.
