HomeEthereumZachxbt alleges Logan Paul is behind a number of crypto “pump and...

Zachxbt alleges Logan Paul is behind a number of crypto “pump and dump” schemes

On-chain sleuth, Zachxbt, has struck once more with a thread on Logan Paul and his alleged litany of shady dealings inside the crypto area. 

Within the thread, the pseudonymous detective revealed among the potential scams Logan Paul has allegedly been concerned in based mostly on his transaction data.

He was ready to do that utilizing Paul’s public deal with, 0xff0, from which he mapped out how funds have been moved out and in from a number of different addresses. For instance, 0xb74 transferred a number of NFTs, together with 3 CryptoPunks, to the principle public deal with.

Supply: Zachxbt

Zachxbt wrote that Logan Paul had promoted a number of pumps and dump schemes over the course of a yr. The primary is the ELON token which he hyped in a leak video from his web page.

The video leaked on Might 10, 2021, and by Might 17, blockchain data present Logan had offered his allocation of the tokens. He made $112k off the sale.

In what seems to be an obsession with the Tesla CEO, the following undertaking Logan promoted was $FUCKELON. It appeared he purchased it proper earlier than tweeting that the coin is mooning. Then he dumped the tokens, making $116k from the sale.

Logan Paul additionally promoted the Ethereum Max token in his boxing match with Floyd Mayweather. He bought free tokens from the undertaking and cashed them out for $71.8k.

The identical token bought promotions from different celebrities like Mayweather and Kim Kardashian. Those that purchased the tokens are at the moment suing the builders and promoters for the failed undertaking.

One other pump and dump scheme he bought concerned in was the failed DinkDoink crypto undertaking. Once more, he hyped the coin with movies and tweets, but it surely turned out that the coin was his creation.

Past the crypto pumps and dumps schemes, the influencer additionally milked his followers with non-fungible tokens (NFT) initiatives. One in all them was the CryptoZoo undertaking which was Adobe inventory footage with nostril photoshop.

Whereas the generic nature of the artwork is much less of an issue, the undertaking had blacklisted holders after migrating contracts. Logan Paul, nonetheless, claimed that this was a technical downside that has been rectified, however many buyers are but to obtain their NFTs.

If the allegations are true, it will imply Logan Paul represents the crop of crypto influencers who capitalize on the belief of their followers to shill nugatory tokens and make cash.



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