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Detail Analysis

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Date:

Status:

Count:

Contributor:

July 2, 2021

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Verified

1

zerofriction.io

Loss Amount:

-

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Recovered Amount:

-

Currency:

Dollars, BNB

KYC By:

Audit By:

None

None

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Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

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Key Indicators

Platform:

Type:

Category:

Method:

Binance Smart Chain

Token

Assets

Scams

Extended Method:

Rug Pull

Data Sources:

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In a nutshell, a cryptocurrency token called ‘Save the Kids’ ($KIDS) was peddled by huge influencers. Those involved included Brits FaZe Jarvis (who was banned from Fortnite in 2019 for using an aimbot), FaZe Kay and Joel Morris of UK-based YouTube academy Xcademy, as well as others: FaZe Nikan, FaZe Teeqo, Ricegum and Sommer Ray. Joel Morris claims he has since stepped down from his role at Xcad Network, while FaZe Kay urged his fans ‘not to believe what you’re hearing online’ and that a ‘dishonest person abused his trust’ with Kay to ‘scam everybody and make six-figure profits’. Kay added in this video that lawyers are involved and working with authorities and that he is conducting an investigation to find out exactly what happened. Once the influencers had promoted this to their millions of followers, who began buying in, several of them then allegedly ‘pumped and dumped’, i.e. sold large amounts of the token in order to make money from it. This crashed the value of the $KIDS token from $0.0029 to $0.0012 in about a week, leaving many who bought in with a worthless crypto. Unknown loss.

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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.