The crypto world is buzzing with accusations against popular YouTuber Olajide Olayinka Williams Olatunji, also known as KSICRYPTO. Did he manipulate the market with pump-and-dump schemes, or is he just, as he claims, ‘bad at crypto’? Let’s dive into the details of this developing controversy.
KSI’s Return to Crypto and Immediate Scrutiny
After nearly two years away, KSICRYPTO reactivated his crypto-related X account, immediately sparking attention. Crypto investigator ZachXBT wasted no time in bringing up past alleged shady practices from 2021 and 2022.
The Tweet That Started It All:
Does this still work?
— KSICRYPTO (@ksicrypto) February 13, 2024
KSI, known for his vlogging, gaming, and boxing career, has a massive following. His crypto-focused X account alone boasts over 372,000 followers. This influence is precisely what makes the accusations so serious.
The Allegations: Pump-and-Dump Schemes
ZachXBT accused KSI of promoting questionable projects and then selling his holdings for profit, a classic pump-and-dump scheme. Here’s a breakdown of the specific allegations:
- Polkastarter IDOs: Allegedly shilling scammy Polkastarter IDOs that quickly went to zero.
- XCAD: On March 27, 2022, KSI promoted XCAD with the hashtag “#HodlGang” and then allegedly sold approximately $850,000 worth of the token in the following days.
- SUPER and ERN: On March 20, 2021, KSI announced his bullish stance on SUPER and ERN. He then allegedly sold around $349,000 worth of ERN shortly after.
- Unnamed Token (May 5, 2021): KSI hyped another token and then allegedly dumped his remaining tokens within an hour for a $25,000 profit.
ZachXBT claims to have verified the wallet address as belonging to KSI through his OpenSea username, an honorary NFT, and a Mutant Ape NFT.
KSI’s Defense: Bad at Crypto?
Stephen Findeisen, known as Coffeezilla, reached out to KSI for comment. KSI’s responses were featured in a Coffeezilla YouTube video, offering a glimpse into his perspective.
Key Points from KSI’s Response:
- Never Left Crypto: Claims he’s been watching industry developments since November 2022.
- XCAD Holdings: Claims to still hold some XCAD and believes in the project.
- Luna Investment: Said he sold after hyping XCAD to invest in Luna, thinking he could profit more and buy back more XCAD, ultimately resulting in a loss.
- No Malicious Intent: Asserts he didn’t intend to scam his followers.
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