🌟 Context: ViruSs steps into cryptocurrency
Around mid-2021, Đặng Tiến Hoàng (also known as ViruSs) – a famous streamer and YouTuber in Vietnam with millions of followers – began to venture into the cryptocurrency field.
🖥️ He participated in promoting the Zuki Moba project, an NFT game with its own cryptocurrency, ZUKI. ViruSs is believed to be closely related to this project through KV Ventures, the investment fund he co-founded.
💰 With his significant influence from the fan community, he frequently shared about ZUKI on TikTok, YouTube, and other platforms, encouraging people to invest when the coin price fluctuated between 0.2-0.3 USD. 📈 Many people, especially new investors (F0), were attracted by this call and rushed to buy ZUKI.
🚨 Developments: Coin price plummets - controversy erupts
Things began to heat up in late 2021 when the price of ZUKI unexpectedly plummeted sharply after being "shilled" (enthusiastically promoted) by ViruSs. According to CoinMarketCap, the price of ZUKI dropped to around 0.0879 USD, causing the project's market capitalization to evaporate nearly 7 million USD.
📉 The investment community began to question: Did ViruSs "pump the price" and then "dump the coin" for profit, or was this just a natural market fluctuation? 🤔
The situation escalated when Trần Văn Phúc (Zet Under), a well-known investor and administrator of the Financial Street community on Telegram, publicly criticized ViruSs. Zet Under left a comment under ViruSs's video: "Experience in the market for less than 3 months and already chasing chickens?" implying that he lacked experience and was manipulating the market.
🔥 ViruSs did not remain silent but responded by posting 3 videos on YouTube, explaining that he did not "pump and dump" anyone and even accused Zet Under of having committed financial fraud in the past.
🎥 However, the pressure from public opinion was too great, and ViruSs subsequently deleted all these videos, which led many to be even more suspicious. 😶
🏁 Result: ViruSs withdraws and the lesson left behind
On December 25, 2021, ViruSs officially announced his withdrawal from KV Ventures and ceased participation in the controversy surrounding Zuki Moba.
🚪 He also reduced his cryptocurrency-related activities on social media, refocusing on his streaming work and content production. Meanwhile, the Zuki Moba project and the ZUKI token continued to lose appeal, leaving many small investors with significant losses. 💸
This incident sparked a heated debate about the responsibilities of KOLs (key opinion leaders) in the cryptocurrency market in Vietnam. Experts like Nguyễn Hoàng Hưng warned that providing specific price levels without cautious advice could push investors into FOMO (fear of missing out) and lead to significant losses.
⚠️ This also serves as a reminder for the community: to conduct thorough research (DYOR - Do Your Own Research) instead of blindly trusting celebrities.
