Safemoon pump and dump

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safemoon pump and dump

Pump and dump schemes are becoming more common as the BTC market develops and investors get more interested in digital assets. One of them is Safemoon. In these kinds of strategies, famous people use their fame for advertising a token and so raise its value, while at the same time thinking of selling off their leftover coins at an increased cost.

An ex-influencer for Safemoon named Ben Phillips was accused of running a $12M scam. He’s suspected of using his clout to promote Safemoon while simultaneously selling several tokens. SafeMoon is mired in yet another scandal as YouTube star Stephen Findeisen, stage name “Coffeezilla,” accuses Phillips, the firm’s previous chief marketing officer, of sexual harassment.

Safemoon Is Bringing In Millions

Viral prank video star Ben Phillips, who hails from the United Kingdom and has almost 4M YouTube subscribers, was already closely involved in the cryptocurrency and non-fungible token industries and several other influencers.

BSC altcoin Safemoon — a venture that Phillips has repeatedly shared and discussed — may be to blame for the current problems. Phillips was trying to sell off his Safemoon for huge amounts of money, based on Coffeezilla’s investigation after he spread the word about it on social networking sites and watched the price rise.

Taking Off His Cover

An anonymous fan paid for his Starbucks coffee after Phillips shared his credit card details in a Twitter post on 12th April 2013. A web sleuth named Coffeezilla was able to follow up on an apex he’d been given as a component of a bigger investigation into the notoriously Ponzi scheme game cryptocurrency SafeMoon.

Other than that, the YouTuber provided photos of every tweet that contained a comparable statement made by Phillips during his career and particular details about each dumping and even critical BscScan URLs that monitor his transactional activity. The CoffeeZilla estimates say Phillips generated revenue of $12M after selling SafeMoon on the PancakeSwap for $16M last December, for a total cost of $4M.

Not Quite Secure

SafeMoon was introduced in March last year and instantly saw a ten-fold increase in its value. The first version’s contract was terminated in December when the team created and released the second version with a new contract address.

Phillips, however, has taken down the bulk of his messages, and his Twitter profile now seems to be as fresh as a daisy. In 2021, he tweeted that a Safemoon whale should be struck by a bus, and his Twitter posts have been known to use strong language.

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