Notorious crypto phenom Ben.eth, who allegedly made rug pulls with BEN and PSYOP, is now launching his 3rd altcoin project.
Ben.eth prepares to pump another altcoin project
The NFT collector, nicknamed Ben.eth, reached the masses at the last PEPE rally. Launched in mid-April, Pepe Coin was instrumental in the launch of a number of meme tokens in the weeks to come. Almost all of these projects consisted of a ‘pump unload’ operation. Blockchain security firm PeckShield recently disclosed the names of these scam projects.
BEN and PSYOP on the list are meme tokens marketed by Ben.eth and causing controversy on Twitter.
cryptocoin.com We have included the details of PeckShield’s report in this article.
Announced the name of the new project
Ben.eth is now preparing to launch another meme-token called LOYAL after scamming millions with BEN and PSYOP. He announced his plans on his Twitter account today.
Ben.eth’s crypto journey started in 2017 and entered the NFT market in 2021. He has remained an active member of the NFT community ever since. However, he has recently gained notoriety for his dealings.
He became famous with Ben.eth after introducing Pepe (PEPE) in May. He then launched a new meme token named BEN to try his luck. But at first it was completely unsuccessful. However, the token gained momentum following the investment of another phenomenon, BitBoy.
After initial success, Ben.eth announced that it will launch a meme token named PSYOP via pre-sale. On May 17, BitBoy sold all BEN tokens. However, Ben.eth managed to raise $9 million worth of ETH from the PSYOP pre-sale and other token sales.
The value of Ben.eth’s wallet rose from $2,600 on May 3 to $9.28 million on May 23. But the funds were moved from the wallet address. According to Etherscan, the current balance currently stands at 3450 ETH worth $6.3 million.
Ben.eth launches new meme project LOYAL
On May 27, Ben.eth announced that it will be launching another meme token on Memorial Day, calling it LOYAL. In the official announcement, he asked his followers to send ETH to the wallet address he gave. The notorious phenomenon promises not to keep this resource as other previous tokens.
Other projects he initiated consisted of the ’empty pump’ operation. The new project is also expected to be a rug pull. Therefore, the crypto community should stay away from such coins.
They will be sued for altcoin manipulation
BEN and PSYOP creator ben.eth are threatened with class action lawsuits over accusations of misleading investors and alleged electronic fraud. Mike Kanovitz, partner at law firm Loevy & Loevy and CEO of Jurat Blockchains, has sued ben.eth for failing to refund PSYOP pre-sale buyers.
Meanwhile, on-chain detective ZachXBT also shared evidence that he misled investors and raised 10,000 ETH from the PSYOP pre-sale.
Also warned that Ben.eth is impersonating the hacked Steve Aoki, Psyop phishing scammer, Jared MEV Bot Owner.
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