SNEAK PEEK
- BEN.ETH’s rise and fall highlight the volatility of meme coins.
- Controversy and legal action surrounded the $PSYOP token launch.
- ben. eth’s empire grew despite regulatory concerns and a lack of liquidity.
As cryptocurrency continues to disrupt traditional financial systems and economies, a recent saga involving a pseudonymous crypto influencer has taken center stage. This influencer, known as BEN.ETH, leveraged the fascination of the crypto world with meme coins, creating a multi-billion dollar empire.
The Saga of BEN.ETH.
This is the story of how a pseudonymous crypto influencer:
• created a multi-billion memecoin empire
• Was sent $7m in free money
• Gained the attention of Andrew Tate
• Was sued for 8 figuresDo I have your attention?
Read on:
— Jack Niewold 🫡 (@JackNiewold) May 24, 2023
His journey from relative obscurity to a prominent figure in the crypto world exemplifies the crypto space’s extraordinary volatility and rapid evolution.
BEN.ETH’s Path to Crypto Stardom
The saga of BEN.ETH began with the launch of a meme coin called PEPE in April. The popularity of this coin skyrocketed, with early investors witnessing up to 100 times the returns on their initial investments.
This trend stirred interest within the crypto community as they sought out the next big meme coin. Soon, multiple meme coins such as WOJAK, BOB, LAMBO, CHAD, and WEED appeared.
Amidst this frenzy, BEN.ETH, with approximately 15,000 followers, launched his own token – $BEN. Initially, the token had a modest performance until it was endorsed by prominent crypto influencer Bitboy. Despite Bitboy being criticized for buying a large portion of BEN without disclosure, this act catapulted BEN.ETH and BEN to the limelight.
The unknown Ben, who had only about 15k followers at the time, launched his own token, $BEN.
It chugged along until crypto influencer Bitboy came out in support of it, publicizing it across social media. pic.twitter.com/L2cLREn9R9
— Jack Niewold 🫡 (@JackNiewold) May 24, 2023
Capitalizing on this newfound fame, BEN.ETH announced the launch of another token, PSYOP. Encouraging potential investors to send him Ethereum (ETH) directly to his wallet, he managed to amass a whopping $7 million.
Unfortunately, the launch of PSYOP faced significant hiccups, including fake tokens and unusual pool setups. The credibility of BEN.ETH was further marred when a supposed developer accused him of creating an unfair system.
Consequently, legal action followed shortly, with a class-action lawsuit against BEN.ETH for alleged wire fraud. The lawsuit claimed damages of up to $21 million. In an unexpected twist, however, the chaos and controversy surrounding PSYOP only seemed to fuel its popularity and intrigue, encapsulating the meme-based narrative these tokens thrive on.
Andrew Tate’s Alleged Involvement in PSYOP Controversy
Amid the chaos, a rumor circulated that Andrew Tate, a known figure in the crypto space, was involved in the PSYOP project. Tate promptly denounced these allegations, adding another layer of mystery to the unfolding drama.
Despite these tumultuous events, BEN.ETH’s wallet value rose to an astonishing $1.77 billion, although it’s important to note the lack of liquidity in these tokens. A ban on trading the BEN token on Uniswap’s front end added to the intrigue, possibly hinting at impending regulatory scrutiny.
