Ye rejects crypto scam offer, reveals attempt to exploit his fanbase with fraudulent meme coin launch.
Kanye West Rejects Pump and Dump Scheme
Kanye West, also known as Ye, has revealed that he was approached with a proposal to fake the launch of a meme coin under his name and later claim that his social media account had been hacked. The rapper rejected the offer, calling out the exploitative nature of such schemes that prey on fan hype.
Fake Meme Coin Scam Targeted Ye
He disclosed in a social media post that individuals attempted to lure him into launching a “Ye Coin” using his X account. The plan involved him later denying involvement by claiming his account had been hacked, allowing the orchestrators to profit from the artificial hype.
$2 Million Scam Offer
According to Ye, the scammers offered him $750,000 upfront and an additional $1.25 million within 16 hours if he participated. The plan aimed to generate millions in profits by leveraging Ye’s massive influence, given his 30 million X followers and record-breaking sales.
Ye Slams Crypto Scams
In response, Ye reaffirmed his disinterest in launching a cryptocurrency, posting in all caps:
“IM NOT DOING A COIN… COINS PREY ON THE FANS WITH HYPE JUST LIKE HYPED UP SNEAKERS CULTURE WHERES THE FTPS NOW.”
Previous Celebrity Crypto Scandals
Reports have previously linked Ye’s name to Sahil Arora, a developer accused of orchestrating pump-and-dump schemes involving celebrities like Caitlyn Jenner, Floyd Mayweather, and Amber Rose. Ye’s revelations highlight concerns that other high-profile figures may be approached for similar fraudulent schemes.
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