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Culture term

Shill

Promoting an asset you hold, often without disclosing that you hold it.

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By the Orca Crypto teamUpdated 2026-09-01How we check this3 min readDefinition
Definition

Promoting an asset you hold, often without disclosing that you hold it.

Shilling is talking a position up publicly. It becomes a real problem when there is undisclosed payment or an undisclosed position, which is common and frequently illegal.

Assume anyone promoting a token owns it. Ask when they bought, how much, and whether they were paid.

In practice

Paid promotion of tokens by influencers has drawn enforcement action in several jurisdictions.

What people get wrong

That shilling means lying. It means promoting a position you hold, whether or not what you say is true, and the omission is the position. The question to ask is not whether they believe it but what they own.

Common questions

Is shilling illegal?
Undisclosed paid promotion of a financial product breaks the rules in many jurisdictions and has been prosecuted. Enforcement in crypto is patchy, which is why disclosure is so rare.
How do I tell a shill from genuine enthusiasm?
Look at the position and the timing. Somebody who bought early and posts constantly during a rise has an interest, whether or not money changed hands.

Where to go next

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