Crypto sleuth ZachXBT led an investigation on inappropriate behavior by an influencer, Crypto Rover, which has raised concerns about the possible shady schemes in the crypto world.
As per ZachXBT’s reporting, Rover supposedly entered into an agreement for a cryptocurrency project in May 2023, in which Rover would have to promote the project and, in return, would receive $10,000 and 1% of the project’s token supply.
The influencer claimed he could “pump projects from 1/2m to 10m easily.” However, after receiving the payment, he failed to fulfill his promise to promote the project. This led to frustration from the project team.
Despite multiple assurances, the crypto influencer stopped responding to the project. However, when he was asked for a refund, he responded a month later, stating he did not scam but would make a post in better market conditions. As of February 2024, no posts have been made, the report added.
The online sleuth mentioned that Rover claimed that he would hold the investment account throughout the next bull run. However, he sold it shortly after making the statement.
Further investigation revealed Rover’s ties to another project named $STONED, with ten addresses linked to Rover purchasing approximately 9% of the $STONED token supply on May 15, 2023.
He made multiple posts on his X account and Telegram channel on May 16-17, 2023, promoting $STONED. The project’s team rug pulled, and no posts have been made since May 18, 2023.
ZachXBT, in his tweet, disclosed that the 10 addresses related to “Rover” made money from $STONED by selling the cryptocurrency. Noteworthy is that the source address for most of the ETH profits realized from the sales had been routed to the same Bybit deposit address from which Rover had previously transferred funds.
This investigation comes after previous claims by ZachXBT about fraud by YouTube star KSI that have drawn speculations about potential pump-and-dump schemes in relation to cryptocurrency investments. The unveiling of such information only re-emphasizes the need for due diligence and transparency within the crypto community to contain the menace of fraudulent activities.
Also Read: KSI Faces Pump-and-Dump Allegations Over Reopening Crypto Account
