Crypto Sleuth Calls Out Floyd Mayweather For 'Scamming' Fans In New Token Promotion

A prominent blockchain investigator has once again called out former professional boxer Floyd Mayweather Jr. for "scamming" his many fans after the renowned athlete who held multiple world titles during his pro career posted on X (formerly Twitter) about a new token.

Crypto sleuth ZachXBT posted screenshots of Mayweather Jr.'s Monday posts wherein he tagged @habibi_comm, known as Sahil Arora in the crypto space. Sahil's X account has been suspended. The said crypto user has been linked to several other celebrity memecoin rug pulls.

In another post, the former title holder posted about a new token, supposedly called $FLOYD. Mayweather Jr.'s promotional posts related to the said token have since been deleted. "Some things never change with scamming your fans," ZachXBT said.

The crypto community was outraged by the latest revelation, with one saying he can now confidently say the net worth of some celebrities is "completely fake." Another user said it was hard to grasp why someone who seems like he doesn't need money can still engage in such fraudulent activities. One user wondered whether Mayweather Jr. will ever be punished for the scams he had been involved in. "I feel like he is getting away with it again and again," the user argued.

This is not the first time ZachXBT called out the former WBC super featherweight champion. In May 2022, ZachXBT, known in the crypto community for his extensive research and investigations into rug pulls, scams and exploits, listed at least a dozen crypto-related projects that fell through.

At the time, the crypto investigator said Mayweather Jr. has "direct ties" to at least three rug pulls – exit scams in the crypto industry wherein developers raise funds for projects then disappear after they've taken investor money.

Another crypto researcher, Xremlin, said Mayweather Jr. has been "promoting scam projects since 2017," including the EMAX coin in 2021 and the Floyd nonfungible token (NFT) in 2022. The researcher noted that the value of Monday's "scam" token $FLOYD has dropped by 95%.

In 2018, Mayweather Jr. and music producer DJ Khaled were sued by the U.S. Securities and Exchange Commission (SEC) for not disclosing the payments they received for promoting ICOs (initial coin offerings), including Centra Tech, which the regulator designated as a fraud.

At the time, the SEC said the ex-boxing champ agreed to pay over $600,000 in disgorgement, penalties and interest "without admitting or denying the findings" related to the allegations.