Influencer launches new project after applying three scams with cryptocurrencies By CriptoFácil

2023-06-02 23:20:22

© Reuters. Influencer launches new project after applying three scams with cryptocurrencies

CriptoFácil – Would a person who applied three scams have any chance of returning to the market? In the case of the influencer known as Ben.eth, apparently yes. After all, the popular influencer launched a new project this Friday (2).

According to a tweet posted by him, the new project is a collection of 10,000 NFTs called Orange. The collection has mintage fees of 0.1 and holders of another token released by Ben (PSYOP) will be given priority at launch.

But the influencer launched three other projects in a period of just over a month – and all of them turned out to be scams. By purchasing the tokens, users lost millions of dollars through rug pull scams.

I AM PSYOP e LOYAL

The first case of a scam involving Ben was when the influencer launched a token called BEN. Within days of being launched, the project suffered a rug pull scam earning millions of dollars from the scheme.

Rug pull, or rug pull, is a blow that comes from the token’s own team. Creators release the token to the market, prompting users to buy and boost the price. When the token reaches a high value, creators dump their tokens, dropping the value and leaving users at a loss.

Shortly after the BEN fiasco, the crypto influencer announced another project and promised that this time would be different. After building hype on Twitter, Ben took a pre-sale for his new token, PSYOP. In a short time, the project received a lot of money in liquidity.

Only once again, Ben liquidated his tokens and exchanged everything for ETH, leaving the project worthless and taking millions of his followers.

Finally, Ben announced a third project, called LOYAL. This time, he would allocate 33% to users who pre-purchased the token. The crypto influencer announced that it will hold 67% of the remaining tokens. He also decided to partner with controversial influencer BitBoy.

Offering NFTs

After three strikes, Ben.eth announced the sale of the collection of 10,000 NFTs. Entitled Orange, the collection is priced at 0.1 ETH. The NFTs were minted in 15 minutes and the minimum price is already below 0.1 ETH.

According to a recent report by blockchain security firm Beosin, losses from rug pull and exit scams in the cryptocurrency market surpassed those from decentralized finance (DeFi) attacks in May. In total, hackers stole BRL 300 million last month.

Just six rug pull incidents totaled more than $45 million in total losses, while ten attacks on DeFi protocols netted just $19.7 million.

By CriptoFacil