X has filed a lawsuit before the High Court of England and Wales against a group of individuals it accuses of running a coordinated network of accounts that spread fabricated bitcoin news in order to fraudulently claim creator payouts from the platform.
The complaint names Vivek Kumar Sen and Zamyang Sherpa, alongside other unidentified operators, and seeks at least £207,384, roughly $278,000. The filing, dated 17 September 2026, sets out how X alleges the network operated and what it says it cost the company.
According to the lawsuit, a cluster of accounts including @Vivek4real_, @Bitcoin_Teddy, @saylordocs, @TrendingBitcoin, @Kalshibacktest and @PolyBackTest posted fake or unverified bitcoin news, while a second group, @BTC_Vibes, @MrSuperBitcoin and @Laserlump, amplified the content through likes, replies and coordinated reposts. X says the accounts were tied together through shared devices, login identifiers and payment data processed via Stripe.
Identical posts, seconds apart
Among the evidence cited in the complaint is an example from 5 August, when two near-identical messages were posted just 11 seconds apart, which X presents as evidence of coordinated rather than independent activity across the network.
The lawsuit also points to specific false claims allegedly circulated by the network, including a fabricated story involving Goldman Sachs and a separate false claim that Citibank had purchased $12.6 million worth of bitcoin. X alleges these stories were designed to generate the kind of engagement that would trigger payments under the company's revenue-sharing scheme.
A scheme built on engagement payouts
The case centres on X's former revenue-sharing program, which paid creators based on the engagement their posts generated. X's suit argues that the defendants exploited this mechanism directly, manufacturing viral bitcoin stories not to inform readers but to trigger payouts tied to likes, replies and reposts.
For a European audience following bitcoin markets, the case is a reminder of how quickly unverified claims about major financial institutions can spread across social platforms, and how monetisation schemes built around engagement can create direct financial incentives to fabricate market-moving stories. Goldman Sachs and Citibank are both cited in the complaint as the subjects of the false claims, though neither institution is accused of any wrongdoing in the filing.
The lawsuit remains before the High Court of England and Wales, with X seeking recovery of the disputed payout sum from the named and unnamed defendants.
