Logan Paul, according to Zachxbt, is behind a number of cryptocurrencies “pump and dump” operations.

May 15, 2022

Logan Paul, according to Zachxbt, is behind a number of cryptocurrencies "pump and dump" operations.

 

Logan Paul, according to Zachxbt, is behind a number of cryptocurrencies “pump and dump” operations.

Zachxbt, an on-chain investigator, has returned with a thread on Logan Paul and his claimed litany of dubious actions in the crypto world. Based on his transaction records, the pseudonymous detective detailed some of the various schemes Logan Paul has reportedly been involved in in the thread. He was able to accomplish this by mapping out how monies were transferred in and out of numerous other locations using Paul’s public address, 0xff0. For example, 0xb74 sent many NFTs to the primary public address, including three CryptoPunks.

Logan Paul, according to Zachxbt, advocated many pumps and dump scams over the period of a year. The first is the ELON token, which he promoted in a video leaked from his Facebook. The video went viral on May 10, 2021, and by May 17, blockchain records reveal Logan had sold his token allotment. He earned $112k on the deal. Logan’s next project, which appears to be an obsession with Tesla CEO Elon Musk, was $FUCKELON. He seems to have purchased it just before tweeting that the coin was mooning. Then he sold the tokens, earning $116k from the transaction.

In his boxing battle against Floyd Mayweather, Logan Paul also promoted the Ethereum Max coin. He received free tokens from the project and sold them for $71.8k. Other celebrities, like Floyd Mayweather and Kim Kardashian, promoted the same token. Those who purchased the tokens are presently suing the creators and promoters for the project’s failure. The disastrous DinkDoink cryptocurrency project was another pump and dump attempt in which he became involved. He touted the currency once again with videos and tweets, but it turned out to be his fabrication. In addition to cryptocurrency pump and dump scams, the influencer milked his followers with non-fungible tokens (NFT) ventures. One of these was the CryptoZoo project, which consisted of Adobe stock images enhanced using nose photoshop. While the general nature of the art is less of an issue, after moving contracts, the project has banned holders. Logan Paul, on the other hand, said that there was a technical issue that had been resolved, although many investors had yet to get their NFTs. If the charges are accurate, Logan Paul would be among the crypto influencers who use their followers’ trust to push worthless coins and make money.

 

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