Ye, formerly known as Kanye West, claims he turned down a $2 million offer to participate in a crypto scam. The alleged scheme involved him posting a fraudulent crypto promotion to his 32.6 million followers and later claiming his account was hacked. By that time, unsuspecting victims could have already lost a fortune.
“I was offered 2 million dollars to scam my community. Those left of it. I said no and stopped working with their person who proposed it,” Ye said in a Feb. 7 X post.
Ye Reveals Scam Details in X Post
Ye included a screenshot in his post, revealing how the scam promoting a “fake ye currency” was supposed to unfold. The offer promised Ye an upfront payment of $750,000 to share the crypto promotion and keep it live for 8 hours. After that, he could claim his account was hacked and that he didn’t make the post. This would be followed by a $1.25 million payout 16 hours later.
“The company asking you to do this will be scamming the public out of tens of millions of dollars,” the message read.
An hour later, Ye shared a screenshot of a private conversation where he asked an unnamed X user to share a “crypto connect” name that wouldn’t require a middleman.
The user responded by naming Coinbase CEO Brian Armstrong and offering to request his phone number for Ye.
Several crypto commentators have already weighed in on the development.
Crypto commentator Armeanio said Ye should consider using crypto to sell his merchandise rather than launching a memecoin.
“Celebrity tokens generally bring a reckoning on retail,” Armeanio added.
Meanwhile, Crypto Vic predicts that Ye won’t launch a token and is likely just creating buzz ahead of his upcoming album release.
“He is a master marketer,” Crypto Vic said.
It comes after US President Donald Trump launched the Official Trump (TRUMP) memecoin just days before he was inaugurated in January.
However, just a day after it launched and saw significant growth, the controversial memecoin fell 38% as his wife, First Lady Melania Trump, launched a memecoin of her own.
A recent survey revealed that many buyers of the Official Trump and Official Melania memecoins were first-time crypto investors.
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2025-02-08 09:28