Allegations state that the American YouTuber hyped multiple crypto projects
Popular American YouTuber and social media personality Logan Paul has been struck again by an allegation of influencing numerous shady dealings in the crypto market. These allegations were made through the Twitter threads of Zachxbt, a renowned on-chain investigator, where the pseudonymous detective has unveiled some possibilities that Logan Paul could have been involved in several pump and dump schemes that he derived from his transaction records.
Throughout his investigation, the sleuth has used the public address of Logan Paul, tagged as 0xff0, from where he drew the conclusions about how funds were moved out from some of the other addresses. For instance, 0xb74 made the transfer of several non fungible tokens that included three CryptoPunks to its main public address. Further, Zachxbt also wrote that Paul had been indulging in the promotion of several ‘pump and dump’ schemes for a year-long time. The first such project was ELON token, which was hyped by the YouTuber in a video leaked from his page.
The specific video was leaked on the 10th and 17th of May last year, where the blockchain records showed that Logan had sold tokens under his allocations, from which he made about $112 from the sale.
Another project that Logan promoted could have derived from his obsession with multibillionaire and Tesla CEO Elon Musk as he promoted the project named $FUCKELON. Later it came to be known that he bought the tokens even before tweeting about raising the coin. Then as he dumped the tokens, he made about $116K worth of sales from it.
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During his boxing match with famous five-division world champion Floyd Mayweather, several other projects that Logan Paul had involved in included the Ethereum Max token. For his role in the promotion, he received free tokens from the project and later chased them for about $71.8K. This same token project was also promoted by famous personalities like Floyd Mayweather himself and also Kim Kardashian, who later found out to sue the developers and promoters of such a failed project.
Another failed crypto project named DinkDoink also had the involvement of Logan Paul, who again hyped the coin through his tweets and videos that later turned out that the token was his creation. Besides pump and dump crypto schemes, the social media influencer also trapped his followers in several other non fungible tokens. CryptoZoo was one such project that had Adobe stock pictures and nose photoshop.
Source: https://www.thecoinrepublic.com/2022/05/15/why-does-on-chain-snoop-zachxbt-thinks-logan-paul-led-numerous-pump-and-dump-schemes/