On-chain sleuth @zachxbt has dropped at consideration that American rapper Soulja Boy has been scamming individuals along with his 16 NFT drops and 73 promotions on Twitter.
The rapper is alleged to have participated in a number of pump-and-dump schemes the place he marketed tasks and enticed his followers to put money into them simply to give up them quickly after, leaving his supporters with nugatory investments.
Soulja Boy accused of Twitter, NFT scams
The rise of NFTs has introduced with it a rise in numerous scams and fraudulent actions. Rapper Soulja Boy has joined the listing of celebrities accused of fraud by way of promotions and NFT drops on Twitter.
One occasion occurred throughout the promotion of RapDoge in July 2021 by Soulja Boy and fellow rappers Quavo and Lil Yachty. The identical occasion was canceled in future, leaving traders with large losses. One other rip-off was ParrotsDAO, which was rug-pulled a day after its announcement.
Soulja Boy was additionally concerned in a Flokinomics promotion that turned out to be a rip-off involving him promoting the Dogecoin knockoff he claimed to have been created by Elon Musk. He has additionally been sued for Safemoon promotions.
Different notable mentions had been Orion and The Life Token, two schemes that manipulated costs by most cancers and suicide prevention charities. These initiatives had been unsuccessful and rapidly deserted, which matches on to show their illegitimacy.
Soulja Boy additionally promoted NFT collections, a few of which promised to ship varied utilities. Regardless of this, a number of of those collections in the present day are inactive, and purchasers have but to obtain a refund for his or her investments.
Soulja Boy nonetheless in enterprise regardless of claims
Regardless of earlier controversy and failure, the rapper has saved producing and selling further NFTs.
It has additionally come to mild that throughout the earlier cryptocurrency bull run, Soulja Boy charged as much as $12,000 for Instagram promotions and $10,000 for Twitter adverts. Primarily based on this calculation, he might have earned about $730,000 by way of a number of promotions and NFT collections.
This conduct has raised issues that Soulja Boy is extra desirous about getting cash than the pursuits of his followers.
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