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 a number of the potential scams Logan Paul has allegedly been concerned in based mostly on his transaction data.

He was in a position to do that utilizing Paul’s public tackle, 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 primary public tackle.

Supply: Zachxbt

Zachxbt wrote that Logan Paul had promoted a number of pumps and dump schemes over the course of a 12 months. The primary is the ELON token which he hyped in a leak video from his web page.

The video leaked on Could 10, 2021, and by Could 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 venture 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 obtained free tokens from the venture and cashed them out for $71.8k.

The identical token obtained promotions from different celebrities like Mayweather and Kim Kardashian. Those that purchased the tokens are presently suing the builders and promoters for the failed venture.

One other pump and dump scheme he obtained concerned in was the failed DinkDoink crypto venture. Once more, he hyped the coin with movies and tweets, nevertheless it 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) tasks. Certainly one of them was the CryptoZoo venture which was Adobe inventory footage with nostril photoshop.

Whereas the generic nature of the artwork is much less of an issue, the venture had blacklisted holders after migrating contracts. Logan Paul, nevertheless, claimed that this was a technical drawback 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 become profitable.

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