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Soulja Boy & Lil Yachty sued over alleged "Pump & Dump" cryptocurrency scheme

Feb 22, 2022

Soulja Boy, Lil Yachty & more named in cryptocurrency class-action lawsuit

This is a class-action lawsuit over an alleged pump and dump. Soulja Boy, Lil Yachty, and Jake Paul are among the defendants

SafeMoon, Inc., a company owned by the founder, is believed to have had its start in this schemeCEO Braden John KaronyClassAction.org discusses how executives were treated at TigerText and other complaints filed against the company.

“pump and dump”

The company's sales strategy caused the value of their tokens to increase while causing confusion among investors.slow rug pull” ploy.

Access to these celebrities is within reach for the average person.SafeMoonThe company announced that it would be buying back some of its own tokens, as investors were driving up their numbers.

SafeMoon allegedly told investors less than a month into their inception that they were guaranteed to make a profit “going to the moon” after nearly four trilliontokens were “burnt.”