An insane plan involving a fake cryptocurrency and the sell an Instagram account followed by the rapper Kanye West went viral on Twitter/X this weekend. The scam, detailed by the user Hiagoreached more than 3 million views and 20 thousand likes.
According to a Web3 expert, a user allegedly sold her Instagram account to a random person who eventually used the profile to launch a cryptocurrency that would, in a sense, be endorsed by Kayne West.
“I’m going to tell you about the scam of the day in the world of cryptocurrencies. A girl here on Twitter reactivated her Instagram profile and discovered she was still on Kanye West’s followed list. So what did she do? He sold the account to a ‘blessed person’ who saw an opportunity… it has started Hiago.
The opportunity that the scammer discovered was to create a cryptocurrency ‘backed’ by Kayne West, as the rapper’s simple successor, who has more than 20 million followers, endorsed the digital currency.
Account sold?
The origin of the fake cryptocurrency that presented itself as the rapper’s official project can be traced back to the alleged decision of a Twitter user, who, upon reactivating her Instagram profile, discovered that she was still being followed by the American rapper .
After supposedly selling the account, the buyer quickly changed the name of the profile to launch what was dubbed the “official” token of the Kanye West community, using the prestige of the artist’s followers to fuel the plan validate.
In just one day, the fake token generated a movement of $37 millionmisleading investors and causing a stir on social media.
As Hiago noted, a single investor who invested $106 in the currency earned a return of $100,000, that is, a 94,000% profit. However, the token’s legitimacy began to be questioned by more observant people.
After the token gained the attention of the community, expert analysis revealed that the transaction volume was artificial, the result of manipulation by the token’s creator, who bought and resold its own cryptocurrencies to boost the numbers and attract more investors to the to attract coin.
The owner of the account spoke about the matter and only stated that “passed” the bill and does not want to discuss it further. O Livecoins We tried to contact the user on Twitter, but at the time of writing this article we had not received a response, the space remains open.
Finally, the Twitter user who spoke about the case warned that the user who allegedly sold the Instagram account could be in danger, as many users suspect that the account was not in fact sold.
“Name here the angel who sold the account, I would quickly hide because they used her account to run the scam and the @old one is linked, everyone can see the posts everywhere where she talks about this before the accounts are closed . ”
Mention here the angel who sold the account, I would quickly hide because they used her account to run the scam and the old @ is linked, everyone can see it
apart from the posts everywhere she talked about it before closing Heuaefhueafh’s accounts
— Hiago 🥦 (@uphiago) March 15, 2024
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
