Artchick.eth, a renowned cryptocurrency and non-fungible token influencer, has once again come under fire for alleged swindling. This comes not long after a previous incident where the crypto influencer was caught in another scam.
Artchick.eth Caught in Market Manipulation
ZachXBT, a well-known crypto sleuth and rug pull survivor, raised concerns in a blog post on February 12th about NFT influencer Artchick.eth, alleging market manipulation. Artchick.eth has a significant following on social media platform X, with nearly 160,000 followers. The accusations stem from a situation where Artchick.eth attempted to purchase an NFT collection, and when the seller refused, the influencer used his social media presence to negatively impact the collection’s floor price.
Artchick.eth has been accused of engaging in pump and dump activities within the crypto space. This involves artificially inflating the price of a crypto asset through misleading positive statements, only to sell it at a higher price.
Previous Incidents of Swindling
This is not the first time Artchick.eth has been linked to unethical behavior in the world of cryptocurrencies. In 2021, the influencer faced accusations of misconduct after being paid to promote a memecoin project. Artchick.eth publicly admitted to the offense and apologized to the NFT community.
Expanding Scrutiny on NFT Influencers
Artchick.eth’s case adds to a growing list of NFT influencers who are facing intense scrutiny. ZachXBT also previously brought forward allegations against an influencer named Tmas.eth for his involvement in crypto heists, amounting to a significant sum of money in NFTs. The crypto community is being urged to remain vigilant against such scams amid the rise of crypto and NFT fraud.
Hot Take: NFT Influencers Under Pressure
The world of crypto and NFT influencers continues to come under intense scrutiny, with high-profile figures facing allegations of unethical behavior. This situation serves as a reminder of the importance of due diligence and vigilance in the crypto space. Investors and followers should remain cautious and informed to protect themselves from potential scams and manipulative practices.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.