On-chain detective Zachxbt as soon as once more made headlines with a thread about Logan Paul and accusations of shady dealings within the crypto house. Paul Logan allegedly hyped and dumped crypto initiatives like DinkDoink, EthereumMax and others.
On this thread, the nameless detective revealed a number of the potential scams Logan Paul allegedly participated in based mostly on his buying and selling information.
Zachxbt found this via Paul’s public handle, 0xff0, thereby exposing how funds have been transferred 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 handle.
In accordance with Zachxbt, Logan Paul promotes a number of pump and dump schemes over the course of a 12 months. The primary is the ELON token that he inflated in a leaked video from his web site.
The video was leaked on Could 10, 2021. By Could 17, blockchain information present that Logan bought the token and earned $112k. The following venture Logan hyped about was FUCKELON. It seems to be like he purchased it proper earlier than tweeting the coin is “mooning.” Then he bought and made $116k.
“Case 2: On 5/17/21 Logan promotes one other pump and dump. His buys occur proper earlier than the Tweet and dump 12 hrs later for a $116k revenue in whole. The Twitter account for the coin hasn’t tweeted since 5/27.”
Logan Paul additionally touted Ethereum Max tokens throughout his boxing match towards Floyd Mayweather. Logan acquired a free token from the venture and bought it for $71,800. Ethereum Max additionally acquired quite a lot of “wings” from different celebrities reminiscent of Mayweather and Kim Kardashian. Those that purchased the token at the moment are suing the developer and promoter of this failed venture.
One other pump and dump scheme he was concerned in was the bankrupt cryptocurrency venture DinkDoink. Once more, he exaggerates with movies and tweets, nevertheless it seems he’s the one who made it.
Along with the crypto pump and dump schemes, KOL additionally attracts followers to many NFT initiatives. Considered one of them is the CryptoZoo venture – that are pictures in Adobe’s archives photoshopped to increase the character’s nostril.
Whereas the final nature of the artwork causes fewer issues, the venture has blacklisted many holders after switching contracts. As for Logan Paul, he claims it is a technical difficulty that has been fastened, however many traders have but to obtain their NFTs.
If the above allegations are true, it implies that Logan Paul, on behalf of the Crypto KOL staff, takes benefit of the belief of followers to shine nugatory tokens for his personal achieve.
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