Quick take:
- ZachXBT has unveiled a web of crypto frauds shilled by Soulja Boy.
- According to the on-chain researcher, the American rapper ran 73 crypto promos and 16 NFT drops on Twitter, many of which were scams.
- Soulja Boy has since been sued by the SEC alongside seven others.
ZachXBT has published his latest on-chain research findings exposing a web of crypto promo campaigns run by American rapper, Soulja Boy. According to the crypto investigator, the rapper ran 73 crypto promotions and 16 NFT drops on Twitter, most of which were scams.
Publishing his latest Twitter thread, the researcher pointed out the recent hype influencers have given Soulja Boy “for new NFT projects in hopes of clout.”
“In reality, he has been one of the most shameless promoters in the crypto space.” ZachXBT wrote in a tweet before proceeding to reveal the many promotions that the rapper ran on the social media platform.
The researcher began by highlighting Soulja Boy’s recent lawsuits by the SEC, in which he is accused of ignoring FTC guidelines. The rapper was charged for his involvement in Tron and was also sued for Safemoon.
RapDoge rug pull
Going back to July 2021, ZachXBT tracked a tweet by Soulja Boy asking people to “pump $RAPDOGE to $.000001 and let’s get all our friends in on this are you with me lilyachty.”
The project rug-pulled hours later after receiving shills from Lil Yachty and Quavo as well.
Orion & The Life Token
These projects used cancer and suicide prevention charities as a marketing tool for pumping the tokens. The Orion project rugged off within one month of shilling the project, with the Twitter account also deleted shortly.
The Life Token was abandoned in early 2022, at the peak of the crypto boom.
SaferMars and Flokinomics
SaferMars is probably the one that clearly showed Soulja Boy was shilling for crypto projects. The rapper reportedly left his compensation details in a promo tweet, before deleting it later after the project Rugged.
In October 2021, Soulja Boy tweeted an article that claims Elon Musk was behind the meme token project Flokinomics. “I’m aping in hard on this one, he said.” However, the article clearly warned unsuspecting crypto traders of betting on meme coins.
Dubbed the Dogecoin knockoff, its website and Twitter have since been deleted after rugging off.
The rapper also promoted other projects including ParrotDAO, which rugged off 24 hours after he posted a tweet asking crypto people to “get [their] money and stake.”
NFT Drops and IP Infringements
According to ZachXABT, Soulja Boy has also been an active figure in the NFT space, dropping nine collections in 2021 alone.
“One of them called SouljaBoyNFT advertised many forms of utility yet the website is offline,” the researcher wrote.
Since the start of April 2023, Soulja Boy has dropped seven NFTs, including one 3D NFT that used Ferrari and Nike logos. It was blocked by OpenSea for IP infringement.
It looks like some buyers are still blaming Soulja Boy for rug-pulling the project.
The rapper has continued to create more NFTs despite the performances of the previous projects, using exclusive unlocks for his upcoming blockchain video game and other member-only benefits for the promo campaigns.
Soulja Boy reportedly charged $10k for promotions on Twitter and $12k for Instagram campaigns. According to ZachXBT, he would have earned over $730k from the promo campaigns he ran during the crypto bull.
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