Famous Youtube influencer and ex-SafeMoon rep Ben Phillips has been uncovered for orchestrating a pump-and-dump cryptocurrency rip-off.
With the rising mainstream acceptance of cryptocurrencies, influencers have created their very own tokens and launched them to their audiences. Nonetheless, a good portion of those tasks develop into nothing greater than exaggerated fraud.
Coffeezilla, referred to as the “Web detective‘, investigated Ben Phillips and uncovered him for malicious nonsense $12 Hundreds of thousands in crypto by introducing SafeMoon to its followers.
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In response to him, Phillips drew the standard “influencer“Rip-off the place individuals benefit from their followers inflation value and demand of a selected services or products throughout completely different social media channels. He is been doing that since 2021.
This is the complete Ben Phillips Pump and Dump timeline. https://t.co/37Gj1mi1lc
— Coffeezilla🇺🇦 (@coffeebreak_YT) April 13, 2022
The Coffeezilla investigation was potential as a result of Phillips as soon as posted his cryptocurrency pockets on social media, the place all his transactions have been open to the general public. It seems that proper after dumping tens of millions price of SafeMoon cash, Phillips would submit on social media and blame some for it.Nameless Cryptowhales.”
The reality was that Phillips himself was the whale that dumped the coin value, whereas Coffeezilla found that SafeMoon’s ex-head of promoting had bought $16M Worth of SafeMoon reaping a internet revenue $12M.
This wasn’t the primary time the web sleuth uncovered an influencer-backed crypto rip-off. Youtuber Ice Poseidon was already there in February uncovered for the carpet that pulls its traders for $750,000 and brazenly admit.
by Dom Z. – Crypto Analyst, BitDegree