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After the PEPE meme coin frenzy, different meme coins comparable to BEN and PSYOP gained consideration after Ben “Bitboy” Armstrong and Andrew Tate have been linked to those meme cash.

BEN and PSYOP creator ben.eth is threatened with class motion lawsuits for deceptive traders and alleged wire fraud prices.

BEN and PSYOP Creator ben.eth Faces Class Action Lawsuit

Mike Kanovitz, a accomplice at regulation agency Loevy & Loevy, and CEO at Jurat Blockchains, in a tweet on May 20 claims to file a lawsuit towards ben.eth if he doesn’t refund PSYOP presale patrons. A letter was despatched as an NFT to ben.eth tackle.

According to the letter, ben.eth could possibly be charged with deceptive traders, racketeering, fraud, and wire fraud. The PSYOP presale has raised over $7 million and the lawyer claims damages price $21 million if the category motion lawsuit is filed. Kanovitz has requested to return ETH to traders as a settlement.

ben.eth has linked PSYOP meme coin with media persona Andrew Tate as a possible purchaser. Previously, YouTuber Ben Armstrong was linked to BEN meme coin after he purchased and later dumped all his token holdings.

Others are additionally claiming to file lawsuits towards ben.eth and have proven curiosity in becoming a member of the most recent class motion lawsuit. Meanwhile, ben.eth has jokes in regards to the lawsuit and focuses on airdrops.

Also Read: Visa Deepens Crypto Payments Presence With Ethereum Account Abstraction

On-chain sleuth ZachXBT has additionally shared proof of deceptive traders and elevating 10,000 ETH from PSYOP presale. ZachXBT has been exposing a number of meme cash as individuals are getting duped buying and selling amid memecoin season.

*pretends to be shocked* pic.twitter.com/I1qO3uFLy2

— ZachXBT (@zachxbt) May 19, 2023

BEN token is buying and selling at $0.000000061, up 1% within the final 24 hours. Meanwhile, PSYOP worth jumped 200% to $0.000056 within the final 24 hours after the presale, however the worth is falling repeatedly.

Also Read: Whales And Miners Offload Huge BTC Amid Fed Chair Powell Speech

Varinder has 10 years of expertise within the Fintech sector, with over 5 years devoted to blockchain, crypto, and Web3 developments. Being a know-how fanatic and analytical thinker, he has shared his data of disruptive applied sciences in over 5000+ information, articles, and papers. With CoinGape Media, Varinder believes within the big potential of those modern future applied sciences. He is at the moment protecting all the most recent updates and developments within the crypto trade.

The offered content material might embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability in your private monetary loss.