ZachXBT, a cryptocurrency sleuth, conducted an investigation into improper activity by an influencer named Crypto Rover. The findings raised questions about potential dubious operations inside the cryptocurrencycurrency space.
According to ZachXBT’s reporting, Rover purportedly signed a contract in May 2023 for a cryptocurrencycurrency project, wherein Rover would receive $10,000 and 1% of the project’s token supply in exchange for promoting the initiative.
Refund requests have been made since, in spite of Rover’s assurances, communication with the project team was suspended. A month later, Rover responded, claiming that nothing was improperly done and implying that the promotion might happen if the market improved. Nevertheless, the available role has not materialized as of February 2024.
After more research, it was discovered that Rover was involved in another project called $STONED. On May 15, 2023, eleven addresses connected to Rover were found to have purchased about 9% of the $STONED token supply.
In a tweet, ZachXBT revealed that ten addresses associated with “Rover” profited from $STONED sales following “Rover” posts endorsing the coin. Remarkably, the majority of the ETH gains generated by the sales were directed to the same Bybit deposit address that Rover had previously used to send cash.
This inquiry follows ZachXBT’s earlier allegations on YouTuber KSI’s fraud, which sparked rumors about possible pump-and-dump cryptocurrencycurrency investment schemes. The release of such data merely serves to highlight how important it is for the cryptocurrencycurrency community to practice due diligence and transparency in order to combat the threat of fraudulent activity.
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