NFT Influencer Ben.Eth Accused of Rug Pull After Delaying Launch of His $PSYOP Token

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Updated: 20 May 2023

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Ben.eth, a non-fungible token collector and influencer who recently turned crypto millionaire after running a controversial presale, has received a massive backlash after failing to offer his crypto investors their allocations as he previously pledged.

You claimed presale buyers would get a 30% discount. After the presale I am down 90%. Doesn’t sound like a good summer for me.

— JayThereum (@JPThereum) May 19, 2023

Ben.Eth Accused Of A Rug Pull

The NFT influencer Ben.eth rose to fame last week after raising nearly $7 million from his controversial token presale. Earlier this month, Ben partnered with his namesake famous YouTuber Ben “Bitboy” Armstrong to launch his own-branded meme coin, $BEN.

Following the success of the BEN token, which peaked at a $72M market cap four days after its May 6 launch, Ben.eth announced a presale for his next meme coin, $PSYOP, on May 12, telling investors to send ETH to his wallet to secure an allocation.

Crypto investors have since sent 3,848 ETH or $6.9 million, despite looming claims that $PSYOP pseudonymous founder had plans to rug pull the project. After several days of delay, Ben.eth has finally announced the airdrop of his $PSYOP token.

Ben.eth Receives Heated Community Backlash

Despite criticisms and accusations from some crypto investors, Ben.eth has released the 10% of his crypto token allocation to investors. While commenting about the remaining 90%, Ben.eth remarked:

“All presale contributors will get their full allocation asap. The ones that don’t touch it, meaning no transfers, will be especially rewarded. The other 90% of the $PSYOP allocation will be coming in batches over the next few days. If you don’t touch your airdrops at all, meaning no token transfers, you will get a good amount extra.”

Nonetheless, some crypto investors have accused Ben of wired fraud despite launching the highly anticipated $PSYOP crypto token. Ben has announced to continue airdropping the rest of the new tokens all over the weekend.

https://twitter.com/eth_ben/status/1659460877970726912?s=20