- Ex-CMO of SafeMoon pumps and dumps the altcoin repeatedly.
- Generates a scam of $12M easily.
- BscScan URLs put out his transactions.
When it comes to the crypto industry, one of the worst negative impacts of all times, is the artificial pumping up of the cryptos. Usually, most new crypto projects promote themselves in the best way possible, especially with the help of famous influencers and media celebrities.
With the celebrity’s influence, the particular crypto gets pumped up high artificially, and dumps down drastically. Such repeated pump and dump, enables the owners of the scam projects to run-off after making good money. This is a usual practice being followed by almost all new projects.
One such worst scams in recent times, owes to that of the SafeMoon (SAFEMOON). The former Chief Marketing Officer of SafeMoon, Ben Phillips, is also a very influential YouTuber too, is said to have made millions by promoting SafeMoon.
The $12M Scam
Being a CMO as well as a famous influential YouTuber, owes to be a deadly combination here, rather a boon for Ben Phillips. Ben Phillips started off initially as only a YouTuber, and with his success he was approached by the team from SafeMoon.
Ben Phillips, is indeed a truly an avid crypto and Non Fungible Token (NFT) enthusiast. And so, accepting the offer as the CMO of SafeMoon, Ben started to play his game, rather unnoticeably.
With his more than 4 million YouTube subscribers, Ben indeed influenced as many as he could, starting off with his interview for the SafeMoon project upon Binance Smart Chain (BSC). Ever since then he promoted SafeMoon, as much as he could making people buy them as much as possible.
However, before his promotions, he bought SafeMoon for about $4 million on the PancakeSwap platform. After his successful artificial pumping, he sold off all his SafeMoon at such artificial high prices, thereby making a total of $16 million. And so, he accounts for a profit of $12 million evidently.
All such activities of Ben Phillips have been depicted step by step by another YouTuber, Coffeezilla, with all the evidence put out abruptly.
Recommended for you
