As cryptocurrencies face a bear market, people are struggling to juggle their investments across several blockchain platforms. By now, those who believed in the "get rich quick" scheme might have pulled their money out of the crypto venture.
Still, the declining price of digital currencies is not an excuse to be negligible of the rampant scam.
Recently, Gunna tweeted out PushinPETH, a new cryptocurrency that he was launching in the crypto metaverse.
However, Twitter users were quick to see that the rapper has allegedly orchestrated a rug pull for the said currency--another case of crypto scam.
Gunna Accused of Rug Pull Scam
According to a report by Tone Deaf on Friday, Feb. 4, Gunna announced earlier this week that he was backing PushinPETH for a new project. He even urged the fans to join him on telegram so they could take its price "to the moon."
The tweet mentioned @shanemooncharts, but the users have no idea about the person behind this account. Gunna used to mention this name to prove that what he's posting is credible enough for the willing investors.
After the rapper's PushinPETH tweet, people noticed that the post was deleted right away along with the PushinPETH account. However, @shanemooncharts was still on the social media platform.
Since the removal of Gunna's controversial tweet, fans quickly questioned Gunna's credibility for the crypto project. The Atlanta rapper was accused of a potential rug pull following the tweets from different people claiming it a crypto scam.
Related Article: Twitter Crypto Scam: 'Moon Nation CEO' Ben Todar Warns People About Scammers Impersonating Him [BEWARE]
Self-Proclaimed Crypto Detective Uncovered Gunna's Scheme
In another story written by XXLMAG, a Twitter user named @zachxbt was the first person to discover Gunna's crypto scam. According to his tweet last Wednesday, Feb. 2, the rug pull did not even last eight hours.
Nice scam @1GunnaGunna didn’t even last 8 hrs. pic.twitter.com/x3w6pxhS6x
— ZachXBT (@zachxbt) February 2, 2022
The self-proclaimed "on-chain sleuth" added a screenshot of Pushin's trend via TradingView. It was shown there that the cryptocurrency's value suddenly dropped at that moment. This was a clear sign that a rug pull has been pulled off successfully for the past few hours. Upon knowing this unfortunate series of events, many people posted their reactions to Gunna's crypto scam. One user said that he had seen a lot of BS in his time but the current scenario was considered the worst for cryptocurrencies.
Another person tweeted that those who believed in Gunna's claim of taking PushinPETH to the moon were completely out of their minds.
gunna crypto scamming aint 🅿️
— Trapz ﾒ𝟶⸆⸉ (@Tr4pzzz) February 2, 2022
Ice Poseidon Crypto Scam
On Feb. 2, Tech Times reported that a former Twitch star who moved to YouTube was allegedly involved in a cryptocurrency scam. According to the source, Ice Poseidon has taken away $500,000 from his fans who invested in his bogus CxCoin.
Paul Denino, the involved streamer in the recent dump scheme allegedly spent the money in a Tesla car. Following this report, YouTuber Coffeezilla posted a video about this incident on his channel.
Meanwhile, hackers used Instagram accounts to steal $80 million from the victims in another scam.
Read Also: Andrew 'Twiggy' Forrest Files Charges Against Facebook for the First Time Over Clickbait Crypto Ads
This article is owned by Tech Times
Written by Joseph Henry
