What are the allegations against Ashcrypto in the ROYA case?

ZachXBT alleges that Ashcrypto promoted the ROYA token publicly while selling into the price surge, a classic pump-and-dump structure. The claim is that followers were encouraged to buy while the influencer exited positions. Ashcrypto has not responded to the allegations.

What is the ROYA token and why is it relevant?

ROYA is the native token of Royale Finance, a decentralised lending platform. It became the focus after Ashcrypto publicly called the token, triggering a price move. The controversy centres on whether that call was used to create exit liquidity.

What is a pump-and-dump scheme in crypto?

A pump-and-dump involves promoting a token to drive up its price (the “pump”) and then selling holdings at higher prices (the “dump”). This leaves late buyers holding losses once the price falls. It is considered market manipulation and carries significant risk for retail investors.

Why are illiquid altcoins like ROYA more vulnerable?

Illiquid tokens have low trading volume, so even small buying pressure can push prices up sharply. Influencers with large audiences can create sudden demand spikes. This makes it easier to manipulate price action compared to large-cap assets.

How large is Ashcrypto’s influence in the market?

Ashcrypto reportedly has over 2.1 million followers on X, giving significant reach. Large audiences can amplify token calls quickly across retail traders. This influence can materially impact prices, especially in smaller tokens.

What evidence did ZachXBT present in the ROYA case?

ZachXBT claims Ashcrypto publicly promoted ROYA while privately telling followers he was “holding 100%” and buying more. At the same time, onchain or trading evidence suggests selling activity. This mismatch forms the basis of the allegations.

Has Ashcrypto responded to the allegations?

As of now, Ashcrypto has not publicly responded to the claims. This leaves the situation unresolved and based on investigator findings rather than confirmed legal outcomes. Investors should treat the information as allegations, not proven facts.

How does this compare to the RAVE token incident?

The RAVE case involved a coordinated group allegedly controlling over 90% of supply, driving a 6,000% price surge before a 95% crash. While the ROYA case is smaller in scale, it follows a similar pattern of price manipulation. Both highlight risks in low-liquidity tokens.

Ashcrypto faces ROYA pump-and-dump allegations

Written by Brie CarterPublished May. 5 2026Last Updated May. 7 2026

Onchain investigator ZachXBT has accused crypto influencer Ashcrypto of orchestrating a pump-and-dump scheme involving the ROYA token, raising fresh concerns about social media-driven market manipulation.

The allegations claim Ashcrypto promoted ROYA publicly while privately signalling confidence to followers, despite evidence suggesting he was selling into the rally on a centralised exchange.

Ashcrypto, who has more than 2.1 million followers on X, has not responded to the claims, which centre on activity involving the Royale Finance token and alleged misleading communication with his audience.

ZachXBT said the ROYA case reflects a broader pattern, alleging that Ashcrypto “ran similar pump-and-dump schemes for illiquid alt tokens on CEXs” repeatedly.

The claims highlight how illiquid tokens listed on centralised exchanges can be vulnerable to rapid price swings when amplified by influencers with large followings.

The allegations echo earlier 2026 cases, including the RAVE token incident, where coordinated actors allegedly drove a 6,000% surge before a 95% collapse wiped billions in value.

The controversy underscores ongoing risks in crypto markets, where influencer-driven narratives can significantly impact price action and investor outcomes.