The marks have lost a still undetermined amount in the hundred of billions via hacks, fraud, busted exchanges and market markdowns in the crypto and token “market’. It should be apparent to anyone with more than a dinosaur brain that the fleecing was conducted by an organized crime network. It is palpable that celebrities were heavily used in this operation.
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For the record Winter Watch weighed in on this back in February as the Bubble was being blown up- see The ‘Bored Ape Yacht Club’ NFT Pump-and-Dump Ponzi Scheme.
“All the usual suspects are on board this MoonPay/BAYC pump-and-dump fleecing. The heavy promotion doesn’t seem to bother YouTube in the least. New channels abound. An ape from the Club graced the cover of Rolling Stone magazine.
This fleecing is a natural for celebrity culture in that it allows the celeb to get in on pre-pump prices for this hot air and promote their name. Whether the celeb is tarnished when the NFT crashes and burns remains to be seen. But like all Ponzi schemes, in the run-up phase the association has benefits.’
If you are still subjecting yourself to mindless stupors, you may have recently tuned in to listen to the shameless Jimmy Fallon and Paris Hilton chat about the latest money-from-nothing scam from the metaverse. This one is a non-fungible token (NFT) — an avatar — called “Bored Ape Yacht Club” (BAYC). Fallon said he used MoonPay to complete the transaction — describing it as “PayPal, but for crypto.”
In our post of August 26, 2021 The Cryptocurrency, Bitcoin Scam we documented the hundreds of millions in hacks and frauds up to that point and suggested this was a forewarning of what has since developed. We called this- but who is paying attention to us?
The kingpin of the FTX exchange loot- see The FTX Loot, Samuel Bankman-Freid is still being openly promoted by the always unapologetic New York Times aka Slimes. He will be appearing today with a rogue gallery of the Crime Network as part of his “I am too dumb to be a criminal mastermind” world tour.
— SBF (@SBF_FTX) November 23, 2022