Rapper Soulja Boy Accused Of Promoting Scam Crypto And NFTs

An on-chain sleuth has revealed the shilling activities of American rapper Soulja Boy and accused him of boosting 73 cryptocurrency promotions and 16 Non-Fungible Token (NFT) drops on Twitter, many of which were scams.

The U.S. Securities and Exchange Commission (SEC) previously charged crypto endorsers for failing to declare their earnings from boosting cryptocurrencies.

Several law firms like the Moskowitz Law Firm have filed class-action lawsuits against celebrity endorsers and sports icons like Stephen Curry, Tom Brady and Shaquille O'Neal, among many others for promoting FTX.

But it looks like the American rapper, who over the past months has become a crypto enthusiast, is in a league of his own despite the lawsuits against celebrity crypto endorsers. He bragged about his Bitcoin gains in one of his tracks in 2018 and launched a 3D NFT collection this month.

However, the on-chain sleuth who uses the Twitter handle @ZachXBT claimed that even as Soulja Boy has been showered with praises by influencers, "in reality, he has been one of the most shameless promoters in the crypto space."

The internet sleuth who claimed to be a rug-pull survivor revealed that Soulja Boy promoted the $RAPDOGE but after just a few hours the project rug pulled.

"On July 19, 2021 Soulja Boy Tweeted out: 'et's pump $RAPDOGE to $.000001 and let's get all our friends in on this are you with me lilyachty.' In the following hours the project rug pulled after receiving shills from Lil Yachty and Quavo as well," ZachXBT revealed.

The internet sleuth further said that the American rapper was also involved in promoting SafeMars, and in a Twitter thread, detailed what happened to the project.

"As probably his most infamous shill, SouljaBoy accidentally left his compensation details in the promotion tweet and left it up before noticing. The project soon rug pulled after and he deleted his tweets to remove evidence," the tweet read.

Apparently, the American rapper has a knack to promote a project and later delete his tweets about it, the same thing he allegedly did to ParrotsDAO.

"Soulja Boy tweeted 'Get yo money up and stake!' In next 24 hrs the project rug pulled and he deleted all evidence once again," ZachXBT said. According to him, aside from crypto projects, the American rapper also promoted a lot of NFT drops from various collections, and most of them were rug pulls.

"Soulja Boy has dropped many different NFT collections. In 2021 alone I found 9 total collections created by him. One of them called SouljaBoyNFT advertised many forms of utility yet the website is offline," ZachXBT wrote.

"Then just in April 2023 SouljaBoy has dropped 7 different NFTs. The first included a 3D NFT which used the Ferrari & Nike logo. Within a few hours this was blocked from OpenSea for IP infringement. It seems he has yet to reimburse the buyers for it," he claimed.

The American rapper and other celebrities were charged by the SEC for allegedly promoting TRX and BitTorrent, without disclosing the compensation they received.