A recent data leak on crypto influencers revealed that many posts promoting tokens were not properly disclosed, raising concerns about market manipulation.
How Uncovering Opaque Schemes Happened
On September 1, crypto analyst ZachXBT released a spreadsheet containing data on over 200 influencers recruited to promote an unnamed token. The sheet lists the influencers' rates, wallet addresses for payment, and advertising statuses. According to ZachXBT, about 160 influencers accepted payment, but fewer than 5 marked their posts as ads.
High Fees for Influencers
The leaked data showcases a tiered fee structure where top influencers charged tens of thousands of dollars per post. For instance, one account demanded $60,000 for a single promotion, while another accepted $12,000 for six tweets. Fees ranged from $750 to $60,000 per publication, but none of the influencers marked their posts with '#ad'.
Market Impact and Regulators
These opaque practices violate advertising laws. In the U.S., for instance, the Federal Trade Commission requires influencers to clearly indicate paid endorsement posts. Experts warn that such actions might draw regulatory attention and result in strict measures. The leak underscores the need for tighter disclosure rules and greater investor awareness.
This incident serves as a warning to investors that not all social media spikes reflect true token value. Studies show that viral campaigns can drive temporary interest, but may not always lead to long-term growth.
