ZachXBT, an on-chain investigator, has reportedly made the allegations against Ash Crypto, a cryptocurrency influencer, in relation to trading transactions covering the ROYA tokens. The allegation is based on on-chain data recommending that ROYA tokens were purchased and later traded during the same periods when crypto influencer Ash was currently promoting the ROYA token to its followers.
ROYA Allegations Appears Patterns In Token Schemes
The claim states that Ash Crypto promoted Royale Finance’s native token, ROYA, which is traded on a centralized exchange, and still promoting the token to buy during the same timeframe.
According to AshWSB, a paid investment channel, Ash Crypto still holds 100% of ROYA and intends to purchase additional holdings.
Conversely, ZachXBT verified its allegations that Ash Crypto was purchasing and trading ROYA while still promoting it publicly, during which their followers were also buying more of the said token.
Furthermore, Ash Crypto denied allegations of purchasing ROYA in public.
ZachXBT additionally claimed that the issue is not only pertaining to ROYA and emphasized that it is the same strategy seen in other low liquidity altcoins listed on CEXs. He added that these cases show a recurring strategy covering influencer-driven promotion, which continues to appear in the current crypto market.
RAVE Case Investigation
Before the allegations involving Ash Crypto, ZachXBT also claimed an incident on a large-scale price scheming case involving RAVE token dated April 2026.
He also claimed that RAVE token indicated large fluctuations, with price increases of about 5,600% prior to the decline.
Given these cases, Binance and Bitget reportedly investigated price manipulation involving the influencers and the trading groups.
Meanwhile, the Ash Crypto incident, deviated in modus operandi like the RAVE case, appears to follow a similar pattern of using influencers’ marketing strategy that can easily influence the price movements and influence investors’ decisions. This demonstrates the significant influence crypto influencers can have on investment decisions in the crypto market.
Fraud Damage by 162%, Says Chainalysis
Despite accusations, financial crime transactions in the crypto market continue to expand. According to Chainalysis, the cryptocurrency-related financial crime transactions for the year 2025 are expected to grow by 162% yearly approximately $154 billion or 24.5 trillion yen. In response, Nikita Bier, head of product at X, mentioned a new rule to automatically lock suspicious accounts and require followers’ identity verification. ZachBXT highlighted that individual awareness and proper investigation of on-chain data is very important to mitigate fraud and avoid trusting influencers’ promotions.
