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Crypto Influencer Jaypeg Accused of Scamming Uptober Meme Coin Project
Recently, crypto influencer Jaypeg has found himself in hot water following serious allegations of involvement in a Pump and Dump scheme that targeted the “Uptober” meme coin project. According to the Uptober team, Jaypeg entered into an agreement to promote their newly launched meme coin in exchange for 2% of its total supply, which was valued at roughly $2,200. However, instead of upholding his end of the bargain, Jaypeg is accused of selling these tokens, denying he ever received them, and subsequently deleting key transaction information.
The Controversial Deal: Initial Agreement and Allegations
The situation escalated when Jaypeg reportedly negotiated with the Uptober team through a Telegram group. The terms of the deal involved him promoting the token, which was still in its early stages, in return for a substantial portion of its supply. Once Jaypeg received the tokens transferred to a specific wallet address, he allegedly deleted all messages related to this address from the group chat. He claimed the address was “random” and insisted that he had not actually received the tokens.
Evidentiary Findings: Investigations by ZackXBT
Following the sale of the tokens, the Uptober team became suspicious and enlisted the help of ZackXBT, a prominent blockchain investigator. ZackXBT swiftly uncovered evidence that contradicted Jaypeg’s assertions. It was discovered that the wallet address which had received the Uptober tokens matched the one used by Jaypeg to claim airdrops from the Solana Saga smartphone, directly linking him to the controversial transaction. Social media platforms erupted as users shared screenshots and expressed their disbelief at Jaypeg’s responses.
Defensive Moves and Community Backlash
Despite the mounting evidence against him, Jaypeg continued to refute the allegations, even accusing the Uptober team of trying to blackmail him. To attempt damage control, he later publicly apologized, stating he had donated the disputed $2,200 to charity. However, ZackXBT’s ongoing investigation raised further questions about Jaypeg’s integrity, leading many within the crypto community to scrutinize his credibility even more closely.
The Broader Context: Concerns Around Crypto Influencers and Meme Coins
This incident brings to light growing concerns about the influence of crypto promoters, particularly in the booming meme coin market. The recent surge in the popularity of meme coins—mirrored by the rise of tokens like Uptober—raises ethical questions about influencer promotions. ZackXBT’s findings suggest that Jaypeg’s actions were not mere oversight but rather indicative of a calculated deception aimed at profiting from the promotional agreement.
Furthermore, as crypto analyst Murad Mahmudov has predicted that the meme coin market could experience a “supercycle” peaking by 2025, there is a palpable increase in interest in these types of tokens. This influx has led to a surge in new launches, but it also highlights the ethical implications of influencer involvement. The Uptober team and ZackXBT have since urged the community to exercise caution in whom they choose to trust as influencers, showing that skepticism is becoming necessary in an increasingly unpredictable landscape.
In conjunction with these developments, academics like Professor Alan Jagolinzer from Cambridge have pointed out how crypto influencers exploit their followers by leveraging social-psychological factors that play into desires for status and social inclusion. In a final twist, Jaypeg has even hidden his online profile, further casting doubt on his transparency and trustworthiness within the community.
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