Degen Ben.eth To Launch 3rd Scam Meme Coin After BEN and PSYOP

    Pseudonymous NFT collector Ben.eth managed to build his controversial empire amidst PEPE meme coin frenzy, as well as linking crypto influencers and media personalities to his scam meme coins. After duping millions of dollars of investors’ money from $BEN and $PSYOP rug pulls, degen meme coin creator Ben.eth today announced plan to launch another meme coin dubbed $LOYAL.

    Who Is Ben.eth and the Controversy Behind Scam Meme Coins

    NFT collector Ben.eth started his crypto journey in 2017 and entered NFT in 2021. Since then, he’s been an active member of the NFT community but was not a major influencer. He gained popularity in May after promoting PEPE meme coin and launching $BEN meme coin to try his luck in the meme coin season.

    Initially, he completely failed with $BEN but the token gained pace after popular crypto content creator BitBoy decided to buy it. After the initial success, Ben.eth announced to launch $PSYOP meme coin through presale. On May 17, BitBoy sold all $BEN tokens. However, Ben.eth was able to raise over $9 million worth ETH from $PSYOP presale and other tokens sale.

    Ben.eth wallet address value increased from $2600 on May 3 to $9.28 million on May 23. However, the funds have been moved out of the wallet address. The current balance now stands at 3450 ETH worth $6.3 million, as per Etherscan.

    Ben.eth Wallet Balance. Source: Etherscan

    Also Read: IMF Supports US Fed To Hike Rate By 25 Bps In June, Markets To Crash?

    Ben.eth Launching $LOYAL Meme Coin

    On May 27, Ben.eth announced launching another scam meme coin on Memorial Day naming it $LOYAL. He seeks people to send ETH to his wallet address and promises to not keep this supply as other prior tokens.

    Other meme coins he launched pumped and dumped. The new meme coin is also expected to be a rug pull. Thus, the crypto community should keep away from such coins.

    Also Read: Binance CEO Reacts To China Releasing Web 3.0 White Paper Amid Hong Kong Crypto Push

    Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

    The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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