Renowned YouTube influencer and ex-SafeMoon representative Ben Phillips was exposed for orchestrating a pump and dump cryptocurrency scam.
As cryptocurrencies become mainstream, influencers have created their own tokens and presented them to their audience. However, a significant portion of these projects turn out to be nothing more than overhyped scams.
Coffeezilla, who is considered the “Internet Detective”, has investigated and exposed Ben Phillips for maliciously bringing in about $12 million worth of crypto by presenting SafeMoon to his fans.
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According to him, Phillips used the usual “influencer” scam where people use their followers to drive up the price and demand for a particular product or service through various social media channels. He has been doing this since 2021.
Here’s the full Ben Phillips Pump and Dump timeline. https://t.co/37Gj1mi1lc
— Coffeezilla🇺🇦 (@coffeebreak_YT) Apr 13, 2022
Coffeezilla’s investigation was possible, because Phillips once posted his cryptocurrency wallet on social media, where all of his transactions were public. As it turns out, right after dumping millions in SafeMoon coins, Philips would post on social media, blaming some “anonymous crypto whales”.
The truth was that Phillips himself was the whale that dumped the coin price, with Coffeezilla finding out that the ex-SafeMoon Marketing Chief sold to SafeMoon for $16 million, raking in a net profit of $12 million.
This was not the first time the internet detective discovered an influencer-backed crypto scam. In February, Youtuber Ice Poseidon was exposed for pulling his investors for $750K and openly admitting it.
by Dom Z. – Crypto Analyst, BitDegree