Investigator sheds light on celebrities linked to crypto scams

A Twitter sleuth has connected the dots between criminal activity, celebrities and a celebrity marketer.

ZachXBT, who refers to himself as a “Twitter scout” in his bio, has pointed out the connections between a crypto marketer, some celebrities and crypto scams.

One influencer that ZachXBT claims is promoting scams is Ryan Green, also known as Raichu. (We cannot independently verify his real name.) Green is a celebrity marketer of crypto projects. He claims to have helped sell out over $15 million for projects through his work.

However, ZachXBT points out that many of these projects were either pump and dump or carpet pulling. There are over 50 examples of this type of scam involving influencers and celebrities not disclosing that it was a paid campaign.

Rappers worked crypto scams

In a Example, Green posts about a campaign he helped organize with rapper Lil Xan for the Baller Ape Club (BAC) project. The scam was organized by Le Anh Tuan, a Vietnamese national, who deleted the website and stole investors’ money shortly after its launch. Tuan and his co-conspirators received about $2.6 million.

IN another, Green worked with rapper Rich The Kid for the project NFT Ancient Cats Club. The team pulled the plug shortly after the project began and stole over $1.7 million. The same team is also behind other NFT scams such as Bored Bunny and Rich Dwarves Tribe.

Influencer or celebrity marketing has become more common in recent years. Brands and projects are increasingly seeking to make use of people with a large following on social media. Crypto is no different in this regard. In many jurisdictions, this practice is subject to strict regulation. With partnerships and sponsorships clearly stated so as not to mislead consumers.

In many examples, it appears that Ryan Green’s celebrity collaborators have not explicitly stated that they received payment for these posts.

ZachXBT is a volunteer crypto investigator. He has “been fortunate enough to help form the basis of several lawsuits, allowing victims to find closure as well as assisting in asset recovery for projects/individuals.” However, he has recently stated his intention to find a “sustainable business model.”