X’s Grok chatbot declined to select a winner for a $1,000 Ethereum giveaway organized by crypto influencer Crypto Rover, citing prior allegations of pump-and-dump activity detailed by on-chain investigator ZachXBT.

In replies to users participating in the weekend contest, Grok stated it was abstaining from choosing a winner due to “substantiated reports” implicating Rover in schemes that could compromise community safety.

The messages are now unavailable but circulated in screenshots showing Grok referencing ZachXBT’s findings and calling for caution. The interaction stemmed from a routine promotional giveaway in which Rover, who posts under @rovercrc and has over 1 million followers, invited users to like, repost, and follow his account for a chance to win the prize.

As ZachXBT reported, the allegations center on a project Rover was contracted to promote in May 2023. The deal included a $10,000 payment, a percentage of the project’s token supply.

According to the investigation, Rover made no promotional posts as agreed and later claimed he would delay content until “better market conditions,” while threatening legal action against the project’s team for attempting to call him out.

ZachXBT linked Rover’s wallet activity to subsequent token sales, generating roughly 40 ETH in profits. The funds were routed to a known Bybit deposit address previously associated with Rover.

The probe also identified 10 fresh wallets tied to the same promotional period that accumulated 9 percent of the token’s supply shortly before Rover posted about the asset. The project team behind the meme coin ceased communications shortly after, with no further updates beyond May 2023. In previous posts, Rover reportedly stated he could “pump projects from half a million to ten million easy,” a remark ZachXBT highlighted as part of a broader pattern of manipulative behavior.

Rover did not publicly address Grok’s specific decision and has continued to tag Grok for his next giveaway.

Not all of Grok’s responses refused to engage with Crypto Rover. Many replies to Crypto Rover and his followers affirmed that the bot would select a winner for the giveaway. However, per the latest posts, none was chosen by the bot.

Grok, developed by xAI, has previously drawn scrutiny for its erratic output, including unverified claims and inflammatory responses, though its creators position it as a “maximally truth-seeking” assistant.

ZachXBT’s forensic investigations have become a fixture in crypto accountability circles, with previous work cited in law enforcement actions and asset recoveries totaling over US $210 million, per a 2024 Wired profile.

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The banking giant Wells Fargo is reportedly refusing to reimburse a disabled customer who lost thousands of dollars to scammers who impersonated bank employees.

52-year-old Paul Schendel, a diabetic man who was disabled due to a back injury, lost $6,805 to scammers posing as Wells Fargo employees, reports the local news station FOX 26.

Schendel received a phone call one day from a number that showed up as Wells Fargo on the caller ID. The caller, who had specific knowledge of his banking details, told him that fraudulent activity had been detected on his Wells Fargo account.

Later that day, a woman came to his door, cut up his bank card and took the pieces with her, including the chip. The woman even told Schendel that he should go to the bank the next day to get a new card.

But when Schendel went to Wells Fargo, he was informed that the bank would never conduct such activities or ever call customers, and that the funds in his account would likely never be recovered.

Schendel eventually got a letter from Wells Fargo confirming that the bank would not reimburse his losses.

Says Wells Fargo,

“We have completed our research of your inquiry about the charges of $6,805 on your account… Based on the information available to us, and because the transactions were made using your card and Personal Identification Number (PIN), we found it was made by you or someone who had your permission. Please consider your claim closed.”

FOX26 says it reached out to Wells Fargo to learn about Schendel’s case, but has not yet received any word from the banking giant.

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The Swiss National Bank has refused to hold Bitcoin reserves, citing concerns over liquidity and volatility in the cryptocurrency market.

“In the case of cryptocurrencies, market liquidity may sometimes seem ok, especially during a crisis that is naturally questioned.”

“Cryptocurrencies are also known for their high volatility, a risk of long-term value retention. In short, cryptocurrencies do not meet the high requirements for currency reserves at this time.”

Schlegel’s comments were prompted by the Bitcoin Initiative, a Bitcoin advocacy group. The study adds Bitcoin to the Swiss Treasury, which complements the overall portfolio, minimizing volatility and brings substantial returns.

Without Bitcoin, investments at the Swiss National Bank have increased by around 10% since 2015. According to the Bitcoin Initiative Portfolio Simulation, the 1% Bitcoin allocation to central bank portfolios has almost doubled over the same period. The annual volatility would have increased slightly.

The Bitcoin Initiative emphasized that Bitcoin volatility should not be evaluated on its own, but should be evaluated in terms of the overall dynamics and impact on performance of the investment portfolio.

“(Bitcoin) prices have reached new highs, showing resilience under market stress, and even on bank holidays, double-digit trading volumes remain extremely liquid every day and evening.”

“The Bitcoin Network continues to be one of the most reliable and secure IT systems ever created. Most surprising is that the US has launched a strategic Bitcoin stockpile.”

In an email statement to Coindesk, Bitcoin initiative suggested that the Swiss National Bank’s dislike for Bitcoin could be political. This is because it can harm “an expression of distrust over other currencies” and sensitive relations between Switzerland and the European Union.

The president of European Central Bank Christine Lagarde has consistently criticised Bitcoin, calling it “no value” and a “highly speculative asset” associated with money laundering. In January, Lagarde said “Bitcoin will not be in the central bank reserves of the ECB’s General Council.”

It responded to comments made by Czech National Bank Governor Yale Mickle, who appreciated his agency’s assessment of the addition of Bitcoin in its preparation. Lagarde argued that Bitcoin did not meet the ECB’s standards for liquidity, security and safety from the Criminal Association.

In February, the Polish central bank ruled out “maintaining Bitcoin reserves under all circumstances,” and the Romanian central bank warned the bank not to issue loans to crypto companies.

Federal Reserve Chairman Jerome Powell said in December 2024 that the US Central Bank is “not permitted to own Bitcoin” in accordance with the Federal Reserve Act, and that it is not attempting to change the law.

The Swiss National Bank has indirect Bitcoin exposure through shares owned by the company’s Bitcoin Treasury, including 520,000 shares of the strategy, 8.12 million shares of Tesla, 580,000 shares of Mara Holdings and 500,000 shares of CleanSpark, according to Fintel Data.

Schlegel, like last month, refused citizens’ calls to add Bitcoin reserves to the Swiss Central Bank’s financial resources. Regarding technological advancements, Schlegel noted on Thursday that SNB is using central bank digital currency to implement pilot projects to promote payments between financial institutions.

In contrast, US President Donald Trump signed an executive order this year to establish strategic Bitcoin reserves and cryptocurrency reserves, and signed the Cryptocourt Council, which evaluates budget-rigid ways to compensate for US digital reserves. The order further prohibits government agencies from creating or promoting digital currency for US central banks out of citizen privacy concerns.

Welcome to The Logoff: Today I’m focusing on a showdown between the administration and the courts over a wrongful deportation, a critical test of the judicial branch’s ability to check Donald Trump’s power.

New Zelle restrictions roll out at JPMorgan Chase, Wells Fargo rejects a customer’s $60,000 plea for assistance, and a Bank of America customer battles an erroneous report of his demise.

JPMorgan Chase Rolls Out Zelle Restrictions

JPMorgan Chase has officially launched new payment restrictions designed to stop fraud on the peer-to-peer payments platform Zelle.

The bank says moving forward, it may at its discretion block any payment that appears to stem from social media contacts, online marketplaces and social media messaging apps, noting Zelle is designed for payments between friends, family and trusted associates.

Chase also says payments on Zelle are not covered by the firm’s purchase protection policy.

Wells Fargo Refuses To Reimburse $60,000 Theft

Banking giant Wells Fargo is reportedly refusing to cover the losses of a charitable organization that fell victim to a bank impostor scam.

The Struggle of Love Foundation, a Colorado nonprofit, lost $60,000 to a scammer posing as a Wells Fargo employee after its executive director received a fraudulent message about unauthorized account activity and was tricked into transferring funds to a new account.

According to CBS News, the group realized the deception after the money was gone and the scammer ceased communication, triggering failed attempts to recover the funds through the bank and the police.

Wells Fargo says it’s denying the claim because the organization actively participated in the transaction.

Bank of America Customer Battles Fatal Error

A Bank of America customer says he’s still dealing with the fallout after the government abruptly declared his demise.

Eighty-two year-old Ned Johnson has been mistakenly declared dead by Social Security, causing his benefits to be halted and leaving him entangled in a bureaucratic mess for over two months, reports ABC News.

Ned says BofA sent a condolence letter to his wife in February and began deducting Social Security benefits from his checking account as requested by the SSA.

“My advice would be, watch your bank account and be prepared to – if you get tagged with one of these issues – it’s going to take some time.

And you just have to be patient and persistent if you expect to get anywhere.”

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