Original author: ZachXBT, on-chain detective

Original source: Twitter

Compiled by: Felix, PANews

In recent weeks, many KOLs have praised the new NFT project of the famous American rapper Soulja boy, hoping to expand their influence. But ZachXBT believes that Soulja boy, who has 5.2 million followers on Twitter, is one of the most shameless scammers in the crypto space.

According to ZachXBT, he observed that Soulja boy promoted 73 cryptocurrency projects and 16 NFT airdrops, many of which were scams.

This article takes a look at some of Soulja Boy’s most egregious scams in the crypto space. As an American, Soulja Boy should have followed the Federal Trade Commission (FTC) guidelines, but he ignored them. He was also recently sued by the U.S. Securities and Exchange Commission (SEC) over Tron and Safemoon.

Example 1: RapDoge

On July 19, 2021, Soulja Boy wrote on Twitter: "Let's push the RAPDOGE token to $000001. Let's mobilize all our friends to participate with me." After Lil Yachty (American rapper) and Quavo (member of the American rap group Migos), the project ran away just a few hours later.​

Examples 2 and 3: Orion and The Life Token

Both programs used cancer and suicide prevention charities as a means to drive up prices. Within a month, the Orion project was gone and Soulja Boy deleted his tweets. The Life Token was also abandoned in early 2022.

Example 4: SaferMars

This time is probably the most notorious one. Soulja Boy accidentally left his salary details on the promotion tweet (promising to receive a reward of $24,000 after promotion). As shown in the picture below, the project fell sharply on the first day of its launch. , and soon ran away. Soulja Boy deleted his tweet to eliminate the evidence.

Example 5: Flokinomics

On October 9, 2021, Soulja Boy tweeted a scam project called Flokinomics. Flokinomics paid the media to claim that the project was launched by Musk. In the end, the official tweet and website of the project were deleted.

Example 6: ParrotsDAO

Soulja Boy promoted a project called ParrotsDAO on Twitter and encouraged users to stake. But within the next 24 hours, the ParrotsDAO project team ran away, and Soulja Boy once again deleted all evidence.

In addition to this, Soulja Boy has launched a number of different NFT collections. In 2021 alone, a series of 9 NFTs issued by him were discovered. One of the websites called SouljaBoyNFT has done various forms of promotion, but the website is currently offline.

In April 2023, SouljaBoy issued 7 different NFTs. The first includes 3D NFTs using the Ferrari and Nike LOGOs. OpenSea blocked it within hours, citing intellectual property infringement. It appears Soulja Boy has yet to repay his victims.

Some of Soulja Boy’s recent NFTs have been promoted as having practical features, such as exclusive unlocks for his upcoming blockchain game and other member-only benefits. Soulja Boy keeps releasing collections of NFTs with no regard for buyers of his previously released collections of NFTs.

During the last crypto bull run, Soulja Boy was quoted at $12,000 for ads on Instagram and $10,000 for ads on Twitter. Based on this quote and the number of projects he promoted, Soulja Boy netted around $730,000 (just an estimate) from various promotions.

It's clear that Soulja Boy will do whatever it takes to make money, regardless of whether it hurts his fans. ZachXBT believes this may just be the tip of the iceberg and there are many more scams yet to be discovered. Although the law does not seem to be able to stop Soulja Boy's behavior at the moment, ZachXBT believes that he should be regarded as a typical case.

(The above content is excerpted and reprinted with the authorization of our partner PANews, original text link)

Statement: The article only represents the author's personal views and opinions, and does not represent the objective views and positions of the blockchain. All contents and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and transactions, and the author and Blockchain Client will not be held responsible for any direct or indirect losses caused by investors' transactions.

This article Chain Detective ZachXBT Reveals: American Rapper Soulja Boy’s History of Crypto Scams first appeared on Blockchain.