Crypto Influencer Jaypeg Accused of Promotional Rip-off Involving “Uptober” Memecoin

TLDR:

• Jaypeg allegedly acquired Uptober tokens for promotion however bought them as an alternative
• He denied receiving tokens and deleted transaction proof
• Blockchain investigator ZackXBT discovered contradicting proof
• Jaypeg claims tried blackmail, donates disputed quantity to charity
• Incident highlights issues about influencer practices in memecoin promotions

Crypto influencer Jaypeg has discovered himself on the heart of controversy following accusations of a promotional rip-off involving the “Uptober” memecoin venture. The Uptober crew claims they reached an settlement with Jaypeg to advertise their token in change for two% of the whole provide, valued at roughly $2,200.

Based on the crew, Jaypeg accepted the deal in a Telegram thread and acquired the tokens. Nevertheless, he then allegedly deleted the receiving pockets addresses from the group chat, claiming the deal with was random and didn’t belong to him. The Uptober crew seen the tokens had been subsequently bought, elevating suspicions that Jaypeg had dumped his allocation with out fulfilling his promotional obligations.

3. After receiving the switch, @0xjaypeg instantly deleted the pockets deal with, as seen in these screenshots of the deleted messages. Apparently, @0xjaypeg wasn’t conscious that messages in teams might be restored.@SOLBigBrain @fomomofosol @itstylersays @Jeremyybtc @goatysteve1 pic.twitter.com/BLSgiAPGbt

— Mikasa (@MikasaSolSlayer) October 19, 2024

Looking for to confirm their issues, the Uptober crew contacted famend blockchain investigator ZackXBT. The onchain sleuth uncovered proof that appeared to contradict Jaypeg’s claims.

ZackXBT revealed that the pockets deal with receiving the Uptober tokens, starting with “8jpz1p,” was the identical deal with used to assert airdrops from the Solana Saga smartphone on January 10, 2024. This exercise occurred simply hours after Jaypeg had posted a Solana Saga unboxing video referencing the airdrops.

1/ A brief story about how the influencer @0xjaypeg received caught mendacity to the group thrice this weekend about an allocation for a venture all for $2.2K. pic.twitter.com/Nvb5ZqsaXN

— ZachXBT (@zachxbt) October 20, 2024

Regardless of the mounting proof, Jaypeg has maintained his innocence. He claims that the pockets deal with posted in the Telegram group was certainly random, which prompted him to delete the messages containing the deal with. Jaypeg has additionally accused the Uptober crew of trying to blackmail him.

In an obvious effort to handle the state of affairs, Jaypeg issued a public apology and reportedly donated $2,000 to The Turtle Basis, a conservation charity. Nevertheless, this gesture has finished little to quell the controversy surrounding his actions.

The incident has reignited debates in regards to the position and obligations of influencers within the cryptocurrency area, notably in regards to the promotion of memecoins. Memecoins have skilled a surge in reputation in the course of the present market cycle, with some analysts predicting a “memecoin supercycle” that would peak by the top of 2025.

This elevated curiosity in memecoins has led to a proliferation of latest token launches, particularly on networks like Solana. Since September 19, over 633,000 new tokens have been created on the Solana community alone, in accordance with information from Step Finance.

The controversy surrounding Jaypeg comes at a time when the crypto group is turning into more and more conscious of the potential dangers related to influencer-backed initiatives. Latest research have highlighted how some crypto influencers leverage social-psychological elements to take advantage of their followers’ want for social inclusion and standing.

In response to the allegations, Jaypeg has hidden his social media profile, additional fueling doubts about his credibility. The Uptober crew and ZackXBT have urged the group to train warning when trusting influencers within the crypto area.