KSI Responds to Cryptocurrency Pump-and-Dump Allegations Amid Social Media Scrutiny
3 min read
Photo by Ben Roberts Photo/Getty Images
After some alleged crypto pump-and-dump scam transactions involving KSI went viral, the latter has come forward to address the allegations against him. With cryptocurrency gaining popularity among many internet personalities, some controversies surrounding it have also come to light. Now, KSI has been accused of involvement in the pump-and-dump scam.
Read ahead to learn more about KSI addressing the allegations of involvement in a crypto pump-and-dump scam.
The crypto pump-and-dump scam allegations on KSI
The crypto world has been witnessing a surge in investors, some of whom are popular internet personalities. YouTuber KSI has also been active in the crypto world. However, recently, a popular crypto investigator accused KSI of involvement in a pump-and-dump scam.
Remember when KSI posted
— ZachXBT (@zachxbt) February 13, 2024
“All of a sudden, my $XCAD bag is looking juicy again. #HodlGang”
Then proceeded to dump $850,000 worth of XCAD over the following days from his wallet address. https://t.co/qAEIRYGTMd pic.twitter.com/Gn6LMybQia
ZachXBT, the investigator, shed light on KSI’s tweets about altcoins and their transactions. The British YouTuber has been accused of promoting altcoins and then selling them, raising concerns in the crypto community.
More about the pump-and-dump scam allegations on KSI
Some tweets of the YouTuber promoting XCAD went viral, and he subsequently sold the same for $850k. In the pump-and-dump scheme, an influencer promotes (pumps) a cryptocurrency, temporarily leading to an increase in its price.
Eventually, the influencer then sells (dumps) the investment for a significant profit. ZachXBT has alleged KSI of engaging in the same practice, involving XCAD in the transaction. Tweets proving the promotion of the altcoins have also been presented.
In the allegations against KSI, the investigator has accused the YouTuber of selling $1.2 million worth of crypto investments since 2021, involving altcoins like P***Y, ERN, and XCAD after promoting them to his followers.
KSI makes posts on 5-11-21 at 10:12 AM UTC saying
— ZachXBT (@zachxbt) February 14, 2024
“The PU$$Y is about to explode”
~1 hour later he dumps his remaining tokens for $25K
0xf11fe7d928c2fbecd5514b8ebff0a51193777366e262f8c20865a1ef82f2f035 pic.twitter.com/kX8alENViH
KSI reacts to pump-and-dump scam allegations on him
While the crypto community has been left concerned after the alleged pump-and-dump scam involving KSI came to light, the British YouTuber has come forward to address the issue himself. Coffeezilla attempted to get a response from the YouTuber regarding the scam.
KSI addressed the pump-and-dump allegations by stating that he “sold some profit (as well as my own money) to put into Luna, thinking I would profit more to buy back more XCAD, and took a major L.” He added, “I put my own money into it thinking they would do well. I didn’t have any malicious intent to scam.”
KSI sharing he still believes in XCAD and even said, “I put in 2 million of my own money and lost it all in the end. I made zero profits on crypto”. Meanwhile, the YouTuber is yet to address the allegations publicly.
- Also read: Love Island’s Chloe Burrows Breaks Silence on Cheating Allegations Amid Toby Aromolaran Drama
Ruchi Singh
I'm a passionate writer who believes in the magic of words. I'm a former magazine writer and I love reading books that makes people grow to a better person. Every word holds an energy and I use them to create a positive beautiful life. #StayPositive #StayBlessed
