The “Numbers Go Up” game or intentional fraud?
A story about fake devs, forgotten projects launched with @clanker, @proxystudio and how someone may be making thousands of dollars monthly on Farcaster using fake accounts
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1/ $DANKR
A week ago, I spotted a new token launch on FC by Clanker. It caught my attention because smart traders that @reachbot follows started buying it.
But within minutes of checking, I knew something was off:
- The dev account (@bluechipstocks on FC) had just started posting 10 days ago.
- No links to any other platform.
- No follows from reputable Farcaster users (1K+ followers looked fake)
- A one-page website with vague promises
For me, it was obvious launch by fake account. I thought it would be exposed quickly.
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The next day, to my surprise, the token was still alive, and the project name was tweeted by Proxystudio
Users on X were more vigilant:
They spotted the “dev” account posting fake coffee shop photos, and pointed it out to Proxy.
Proxy's reply was - “maybe it’s just identity concealing posts, no need to call it a scam.”
To justify my initial suspicious, I’ve started digging more.
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2/ The network
The wallet data showed that @bluechipstocks was linked to several copy‑cat “dev” accounts:
1) @payout ($FARCORE)
2) @marketbuyer ($PIXL)
3) @downtrend ($FROG)
4) @alirezakh ($CLANKSTER and $JACKPOT)
The first three followed the same playbook:
- Bought a Farcaster account with thousands of followers.
- Pretended to be a dev and posted for a few days.
- Launched a token (Dec 2024), pumped trading, hinted that “something big is coming” then disappeared.
- Walked away with a few thousand dollars in fees.
But one account stands out: @alirezakh
He launched two projects, gained influential followers on both X and Farcaster, and can be directly linked to all the accounts and tokens in this list above — multiply times as the first funder of the wallets.
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3/ @alirezakh
A serial “builder” and the most “doxed” account in this group, who even followed by Jesse Pollak on X.
Before Dec 2024, alirezakh was just another degen account posting GMs on Farcaster. In December, they tried to launch a Clanker token tied to a project that didn’t exist, but it didn’t pump.
Then in Jan 2025: launched CLANKSTER and few days later it was boosted by Proxystudio everywhere. Market cap peaked at ~$1M.
What was $CLANKSTER?
A token claiming to “back new projects” and distribute their tokens as airdrops to CLANKSTER holders.
How it actually went:
- 1st and only backed project: JACKPOT, made by… alirezakh
- Airdrop 1: ~100 addresses received ~$4 in Clankster tokens
- Airdrop 2: ~30 addresses received ~$0.50 worth of $JACKPOT
To be fair, they actually did two airdrops as promised. Was it worth all the direct support and fees they collected as being traded as one the top of Clanker tokens at that time? Not sure.
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4/ $JACKPOT
JACKPOT seemed like one of the biggest launched projects, given how many influential people posted about it.
A simple concept: lottery-style game where the pot grows and one winner takes all.
What actually happened with it:
- Got surprising buzz on X when alirezakh shared the demo — even Jesse followed and commented it. (You can still see it at @jackpotgame_; I’ll leave the quality judgment to the readers).
- Built by a freelancer, likely by dakshk.eth (based on GitHub activity and txs)
- First contract deployed Jan 30, game went live Feb 12
- Feb 17: had the 1st and the last winner — shortly after at the same day the contract was hacked and all the duns (~$150) were sent to 3 addresses, linked to the same actor
- Feb 24: 2nd contract deployed — but no successful claims from any players since.
- Neither contract was verified
- Multiple TG users reported they “won” but couldn’t claim anything.
It wasn’t just another failed project - it was the most hyped one in this list.
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nastya
8mo
5/
I started working on this thread before the recent Proxy reveal. My goal isn’t to assign blame — I believed the early support for these projects and “devs” came not from bad intentions, but from a lack of vigilance and information. But with what we now know, for some people these findings might land differently.
What shocked me most wasn’t the grift — it was how public everything was. No real effort to hide the fraud.
It’s clear the actor(s) noticed that the most successful tokens on Clanker were launched by real builders — and decided to ride that hype for personal gain. But I don’t want cases like this to hurt legitimate projects. But they will — if people stay silent or shrug off bad cases like this.
As social and financial layers continue to merge, we need greater skepticism and better tools to support informed decision-making. I’m working on something in this space with @reachbot follow along if you're interested.
Here’s the full diagram with all the addresses to browse the details
whimsical.com/embed/PcsAGk...
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interesting thread @nastya - appreciate your research and writeup 🙏
lots of grift in this space - one finger should be pointed at the opportunist "builders", but I frankly also think the market to some extent prefers and favours the hyped launches with many bold promises.
perhaps inexperienced builders look at what's successful, copy, ride the wave, and then get discouraged when seeing that actually shipping stuff to fulfil these promises doesn't result in further price action and reward/runway for them.
people bet more on what will rise fastest in hours vs. what will compound in value over years
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This is fantastic investigative work. What is really needed is credibility tools, and I support your work.
400 $degen
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