- The crypto world is presently infested with scams and scammers.
- Stephen Findeisen, aka Coffeezilla, is a YouTuber attempting to make a distinction by investigating crypto crimes.
- The investigative YouTuber was capable of expose truths about a number of pump and dump schemes together with SafeMoon.
For anybody within the crypto house, beginner or veteran, Bitcoin holder or Altcoin fanboy, millionaire or pauper, there may be one factor that all of them have in widespread: an encounter with a scammer. Be it the “wanna double your funding?” textual content on Telegram or the extra complicated pump and dumps — there’s no escaping it.
Now, scams are usually not new. From the Eiffel tower promoting Victor Lustig to the notorious Charles Ponzi, frauds and fraudsters have been an integral a part of our collective reminiscence.
However at this time’s snake oil salesmen have transcended the confines of ensnaring hapless pensioners and moved to the digital house. And due to its unregulated nature, the world of crypto appears to be the proper petri dish for these trying to writhe their method into the pockets of unsuspecting victims.
However the place there are villains, there are heroes as properly.
Right now, unearthing scams is a discipline of examine in itself: most of its students emanate knowledge within the welcoming and plentiful house of YouTube. A lot of this house is presently occupied by unemployed white ladies warning fellow housewives concerning the entrapments of multi-level advertising and marketing schemes (far too a lot of which oddly revolve round important oils).
And amid this huge pool of YouTube crusaders is Stephen Findeisen, aka Coffeezilla. With over 1 million followers, Findeisen is the one-man power behind taking down high-reach frauds such because the SafeMoon venture.
SafeMoon is supposedly a rip-off crypto venture masquerading as a secure funding automobile. It rose shortly to recognition and was even endorsed by YouTube sensation Jake Paul. Hats off to those that figured that nothing related to Jake Paul may ever be authentic.
When SafeMoon crashed a number of months after its superb launch (with a four-billion-dollar market cap thoughts you), Findeisen took it upon himself to uncover the explanation behind this unraveling. The investigative YouTuber went to excessive lengths to unmask the conman behind SafeMoon and unearthed an uncommon suspect — an influencer who served as SafeMoon’s Chief Advertising Officer — Ben Philips.
It’s fairly disappointing that as a substitute of a deep-voiced hooded villain in a dimly-lit room, the mastermind behind the pump and dump turned out to be a YouTuber who specialised in prank movies — a few of them as mind-bogglingly moronic as “I superglued beer goggles to my bro”.
Nonetheless, regardless of the large variety of crypto scams, Findeisen will not be anti-crypto. He’s a Bitcoin holder himself. “I take into consideration how we are able to form [crypto] into one thing higher — extra like the longer term that the individuals making it say they need. In that method, we’re on the identical facet,” says the crypto crusader.
With the overwhelming inflow of fraudulent cash and scammers eyeing any and all alternatives to make a fast buck, the necessity for such investigators can’t be overstated. So, to chop a protracted story quick — the crypto world wants extra Findeisens.