Soulja Boy visiting Blue Midtown Nightclub on November 12, 2021 in New York City.
Photo: WireImage, Johnny Nunez. All rights reserved.
When it comes to money, scammers are not far away. The crypto market has proved extremely interesting for many people over the past few years as it has made some extremely wealthy. Of course scammers want a piece of the cake too. One of these scammers has now been exposed, along with some prominent representatives. Joining the party: rappers Soulja Boy and Lil Yachty.
“SafeMoon” built up a Ponzi scheme with celebrities
A class action lawsuit has been filed against the CEO of the cryptocurrency “SafeMoon”. He is accused of artificially inflating the trading volume and value of the token with the “pump and dump” scam. The two rappers Soulja Boy and Lil Yachty are said to have knowingly participated.
Some celebrities are said to have advertised the “SafeMoon” cryptocurrency with “misleading statements” in order to attract investors. According to the lawsuit, SafeMoon and its subsidiary set up a Ponzi scheme to sell the token at a higher value. The musicians Nick Carter, Soulja Boy, Lil Yachty and the YouTubers Jake Paul and Ben Phillips also knowingly contributed to it.
It was only after a massive slump in the cryptocurrency that some investors became suspicious. The amount won in the lawsuit is intended to compensate anyone who has purchased SafeMoon tokens since March 8, 2021.