The crypto industry thrives on real-time narratives and influencer-driven momentum, especially on X (formerly Twitter), where traders, analysts, and investors often shape market sentiment.
But in recent days, the community has witnessed the sudden disappearance of several high-profile crypto Key Opinion Leader accounts (KOLs), raising questions about censorship, bot crackdowns, and shifting platform policies.
Why are crypto KOLs leaving?
Recently, Satoshi Flipper—an investor and KOL with over 200,000 followers—noted that accounts like CryptoDog and Luke Martin had vanished. He raised questions about the reasons behind their disappearance. His post sparked a lively discussion, revealing several possible explanations behind this trend.
“What happened to so many accounts this cycle? CryptoDog deleted his? I noticed Luke Martin disappeared months ago. So many OGs gone, any idea why,” Satoshi Flipper asked.
One widely discussed reason is the harshness of the current market cycle. Even though Bitcoin is less than 10% away from its all-time high, the altcoin market cap still needs to grow by 40% to return to its previous peak. This brutal environment has overwhelmed even experienced KOLs.
Recently, Arkham tracked the wallets of nearly 1,000 KOLs, each with over 100,000 followers. Their data shows that most of these wallets have significantly dropped in value since the beginning of the year.
For example, Murad’s wallet—known for his “meme coin supercycle” theory—has lost 50% of its value. Arthur Hayes, co-founder of BitMEX, saw his wallet value drop by 60%.
However, it appears this very feature of Arkham has become a drawback for many KOLs. Since all their on-chain activity is now public, they face a higher risk of reputational damage. The transparency also exposes them to criticism and potential attacks from the community.
In addition, industry veterans—often referred to as original gangsters (OGs)—who understood the market well since 2017, now face massive changes. A new wave of investors has entered the space. These newcomers focus on quick profits and often disregard the history or long-term value of the crypto community. This shift has made many seasoned KOLs feel out of place, leading some to leave entirely.
“This cycle has been the hardest for a lot in our class. The shift to on-chain trench warriors wasn’t the easiest. A lot of OGs got washed in the past years, and the new guys don’t know or don’t really care to get to know a lot of CT. They are too busy making money. Can’t blame them” NekoZ, Advisor at OKX Wallet, said.
Another theory proposed by crypto expert Devchart suggests that some OGs may have sold their accounts. This action not only devalues the KOL brand but also harms their previous reputations.
Devchart—who also has nearly 200,000 followers—claimed that CryptoDog’s account was sold long ago. He said others have since used it to promote meme coins or engage in pump-and-dump schemes. However, he provided no evidence for this claim.
Some believe these KOLs may have retired or gone bankrupt. This theory is plausible, as the crypto market is inherently risky. Many KOLs made significant profits during previous bull cycles, but when market conditions changed, some couldn’t handle the financial pressure. As a result, they chose to leave entirely, deleting their accounts to avoid public scrutiny or criticism.
