{"id":3059,"date":"2024-11-21T06:04:41","date_gmt":"2024-11-21T06:04:41","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=3059"},"modified":"2024-11-21T06:04:41","modified_gmt":"2024-11-21T06:04:41","slug":"logan-pauls-new-crypto-controversy-youtuber-accused-of-profiting-from-misleading-fans","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=3059","title":{"rendered":"Logan Paul\u2019s New Crypto Controversy: Youtuber Accused Of Profiting From Misleading Fans"},"content":{"rendered":"
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American YouTuber and boxer Logan Paul is facing backlash again after being accused of misleading his fans over crypto investments. New evidence shows that Paul seemingly promoted tokens without acknowledging he had a financial interest in them, gaining over $100,000 in the process.<\/p>\n

YouTuber Profits From Misleading Fans<\/h2>\n

The BBC reported<\/a> on Wednesday that social media personality Logan Paul allegedly misled his fans in 2021 when promoting crypto projects online. The investigation unveiled apparent connections between Paul and a wallet profiting from the tokens he shared online.<\/p>\n

According to the report, Paul endorsed an Elon Musk-themed memecoin, Elongate, in May 2021 on his subscription-only fan club, Maverick Club. In the video, the YouTuber declared, \u201cElongate made me rich. Elongate, baby, let\u2019s go. Elongate token.\u201d<\/p>\n

\"Crypto\"<\/p>\n

After the namedrop, the memecoin\u2019s price soared by 6,000% but quickly crashed when investors started to sell for profit a few hours later. The report notes that, even if his intentions can\u2019t be proven, Paul\u2019s mention appears to have affected Elongate\u2019s price action.<\/p>\n

The BBC analyzed an anonymous crypto wallet for its apparent connection<\/a> to the internet star. The investigation found that the wallet received funds from Paul\u2019s public wallet in February 2021 to start trading cryptocurrencies.<\/p>\n

The wallet allegedly \u201cwas later paid funds from Maverick Club and held Elongate when Paul promoted it on 10 May 2021.\u201d Moreover, it also traded another Musk-themed token after the YouTuber posted on X that it was going \u201cto the moon\u201d<\/p>\n

Shortly before Paul\u2019s post, the wallet acquired around $160,000 worth of the memecoin and sold most of its holdings 12 hours later, when the cryptocurrency\u2019s price saw a spike in price. The wallet seems to have made around $120,000 in profit from this trade.<\/p>\n

Logan Paul\u2019s Long History Of Crypto Controversies<\/h2>\n

These aren\u2019t Paul\u2019s first crypto-related accusations. For the past few years, he has been involved in a lawsuit over his failed CryptoZoo<\/a> Project, which saw investors lose around $4 million. In 2023, Time Magazine made similar findings to BBC\u2019s about another memecoin, Dink Doink, and a different anonymous wallet.<\/p>\n

This investigation found<\/a> a \u201ccozy relationship\u201d between the unknown wallet and Paul\u2019s public address. The wallet \u201cwas getting fed a lot of the funds that went into that address,\u201d as the anonymous wallet reportedly sent $100,000 to Paul\u2019s address after selling its Din Doink tokens.<\/p>\n

The YouTuber\u2019s lawyer told the BBC that the transfer was unrelated to the memecoin sale. However, He didn\u2019t deny Paul\u2019s connections to the anonymous wallet and admitted that he traded the token, allegedly making only $17,000 in profit.<\/p>\n

Despite addressing the Dink Doink accusations, Paul seemingly refused to comment on the BBC\u2019s main investigation for several months. According to the report, the social media personality later agreed to talk to the British media outlet\u2019s team, inviting them to his gym in Puerto Rico.<\/p>\n

Nonetheless, the BBC\u2019s team was met with a Logan Paul lookalike instead and verbally attacked by a group of his associates. Then, his lawyer sent a letter on behalf of the YouTuber, warning them \u201cof the possible consequences if we published our findings.\u201d<\/p>\n

Paul has also faced recent online controversy for Lunchy, his collaboration project with YouTubers KSI and Mr. Beast, who has been recently accused<\/a> of crypto-related scams.<\/p>\n

\"Crypto,<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

American YouTuber and boxer Logan Paul is facing backlash again after being accused of misleading his fans over crypto investments. New evidence shows that Paul seemingly promoted tokens without acknowledging he had a financial interest in them, gaining over $100,000 in the process. YouTuber Profits From Misleading Fans The BBC reported on Wednesday that social […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-3059","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3059"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3059\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}