Who is Jaypeg? Crypto Influencer Accused of Uptober Memecoin Scam

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As a seasoned analyst with years of experience in the tumultuous world of cryptocurrencies, I must say that the Uptober memecoin scam is yet another grim reminder of the darker side of this fascinating industry. The involvement of a popular influencer like Jaypeg, who had built a reputation for providing market news and crypto token suggestions, has left many in the community bewildered and disillusioned.

The increasing number of fraudulent activities in the cryptocurrency sector, such as the recent Uptober memecoin scandal involving the pseudonymous figure, Jaypeg, has raised significant alarms. While this revelation of an influencer allegedly defrauding a new cryptocurrency project is startling, the final verdict remains undetermined. Consequently, the crypto community finds itself in a state of uncertainty regarding the truth of the matter.

Following incidents such as Pig-Butchering, Phishing, and numerous other scams that left users shocked a few months back. Currently, there’s growing concern about influencers endorsing worthless tokens. Particularly noteworthy is the need for both individuals and businesses to exercise caution when entering into partnerships in light of these events.

Who is Jaypeg and What’s His Role in Uptober Memecoin Scam?

Known cryptocurrency influencer Jaypeg, with a following of 37,451 on platform X, is currently under scrutiny for his involvement in the Uptober memecoin scandal. Typically, he shares market updates and token recommendations to help his followers construct a savvy investment portfolio. Unfortunately, allegations have surfaced that Jaypeg orchestrated a crypto scam. The Uptober team initially asked him to promote their token on October 11th. However, the team later reported the fraud, as Jaypeg took the payment but failed to follow through on his commitment, thereby initiating the Uptober Memecoin scam.

The process started when the token development group contacted a well-known crypto figure, proposing to give them 2% of the total token supply if they agreed to endorse it. Once the terms were set in their Telegram chat, the group transferred $2200 worth of tokens into the influencer’s cryptocurrency wallet. However, just after the transfer was made, the influencer erased the receiving address and declared that he hadn’t received any tokens at all. Furthermore, he asserted that the wallet address wasn’t his and had been generated randomly. As a result, he accused the team of losing the tokens due to their own mistake.

Moving forward, it’s important to note that the situation has taken an unexpected turn. Having already disposed of the tokens in question, the wallet owner’s predicament appears to have worsened. Conversely, a prominent crypto influencer alleges that they were subjected to blackmail by individuals claiming to be from Uptober. They assert that these individuals manipulated screenshots of their texts and demanded a ransom of $2k.

Who is Jaypeg? Crypto Influencer Accused of Uptober Memecoin Scam

ZackXBT Took Over the Uptober Memecoin Scam Busting

Regardless of repeated inquiries, Jaypeg has yet to confirm receiving the tokens, asserting instead that the token wallet address provided was accidental and not his own. It’s worth noting that he also stated emphatically that he wouldn’t part with the tokens for $2,000 under any circumstances.

As a crypto investor, I found myself in a precarious situation when Uptober’s serious predicament arose. In order to uncover the truth about the influencer at hand, they wisely sought the expertise of Blockchain analyst ZackXBT. His thorough investigation proved fruitful, as he presented compelling evidence that contradicted the initial influence claims. The first piece of this evidence was the wallet address denial – a crucial finding in his comprehensive probe.

1/ A short story about how the influencer @0xjaypeg got caught lying to the community three times this weekend about an allocation for a project all for $2.2K.

— ZachXBT (@zachxbt) October 20, 2024

ZackXBT disclosed that the wallet “8jpz1p” I’ve been using matches the one allegedly used by the defendant during the Solana Saga Smartphone airdrop incidents on January 10, 20244. This crypto sleuth shared his findings, pointing out how Jaypeg has made three false statements over the weekend.

Moreover, he openly apologized and made it clear that he wished to disassociate from the meme token. Notably, he also contributed $2,000 to charity in an effort to resolve the issue. Unfortunately, this decision by the influencer has sparked criticism within the cryptocurrency community, significantly damaging his reputation.

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2024-10-21 15:10