Five Crypto Scandals That Still Shine Bright: A Cowardly Watchlist

Key Takeaways, Darling

Crypto sleuth ZachXBT jolly well called out Token2049’s sponsors, warning that having a platinum badge doesn’t make the slightest bit of them authentic. Several sponsors—oh, the irony—turned out to be shady to the last degree. 😏
JPEX and HyperVerse? They strutted with event sponsorships, promising credibility thicker than a Cambridge mustache. Naturally, they collapsed faster than a soufflé under investigation, leaving investors clutching their pearls and losing billions. 💸
Red flags include anonymous teams, liquidity so low it makes a teapot look overflowing, marketing hype worthy of a Hollywood blockbuster, poor tokenomics, and listings only on exchanges fewer people have heard of—and shouldn’t have been. 🎭
What fuels these coins? Not innovation, darling, but a heady cocktail of speculation, influencer buzz, and cult-like devotion—because nothing says “trust” like a fervent following and a hope for overnight riches. 🚀

In this topsy-turvy crypto circus, some digital delinquents cling on despite scandals, colossal crashes, or less-than-stellar fundamentals. Their fans? Devoted, driven by dreams of speedy riches, and possibly just plain deluded. All fueled by excitement, community je ne sais quoi, and the tantalizing prospect of quick profits—or quick exits, depending on which side of the trade you land. 😉

ZachXBT, that crackerjack crypto detective, shared some behind-the-scenes gossip via his Telegram—about Token2049 sponsors who seemed to be on the up-and-up but were actually sketchier than a back-alley proctologist. His verdict? Just because a project is a sponsor doesn’t mean it’s worth a tin of beans.

Now, lean in, darlings. Here’s why some shady coins stick around longer than a bad smell—despite their dubious provenance. It’s all about betting on nothing but sheer chance, community loyalty (or stubbornness), and the strategic use of hype. The secrets? Hidden liquidity, sensational marketing, and a dash of wishful thinking.

In the zoo of crypto, why do these shady creatures keep wandering? 🦓

Untrustworthy to the core but stubbornly alive, such coins persist due to:

Speculative trading: Because everyone loves a rollercoaster—up, down, and upside down.
Devoted fanbases: The memes, nostalgia, and blind loyalty help keep the coffers filled.
Low liquidity: A tiny pond where insiders paddle, stirring up waves for the gullible swimmers.
Periodic hype: Social media flash mobs, influencer shout-outs, and headlines that flash brighter than a Christmas tree, even if they’re just tinsel.

Fun Fact: Some projects promise “1,000x guaranteed returns” or “DeFi satellite ventures” hoping to dazzle the naïve—yet, if it sounds too good to be true, it probably is. 🎩

Meet the persistent perpetrators: 5 shady coins that refuse to go gentle into the good night

Our illustrious crypto investigator ZachXBT has flagged some of the boldest for your amusement—and potential peril:

Spacecoin (SPACE)

Origin: The brainchild of Gluwa, launched around 2024-2025, claiming to beam the internet through satellites—cue the Hollywood sci-fi.
Controversies: ZachXBT labelled Spacecoin “botted”—which is crypto-speak for “not quite real, darling.”
Questionable bits: Claims of smart contract audits without a certification to be seen, no verified satellite launches—merely hope and hype.
What keeps it afloat? Massive promotional efforts, shiny sponsorships, and enough buzz to keep a few traders happy—if only temporarily.

JuCoin

Origin: An old Singaporean favorite, born in 2013—rebranded, resold, and reshaped, like a plasticine tennis ball.
Controversies: Flagged by our clever ZachXBT for its dubious past—ownership shuffles faster than a Vegas dealer shuffles cards.
Questionable bits: Lacks regulation where it counts, dishonest or absent regulatory filings, yet dares to dream big.
What keeps it breathing? Rumor-mongering, aggressive marketing, and a touch of luck.

Weex

Origin: A Singapore-based futures platform operating since 2018, promising anonymity and bonuses like a cheeky nightclub.
Controversies: Not regulated, no big brother watching—just social media grievances about frozen accounts and mysterious KYC issues.
What sustains it? The allure of leverage, moonshots, and traders chasing phantom riches.

DWF

Origin: Not much known, but listed as a sponsor on Token2049. ZachXBT calls it a sketchy market maker with a murky past.
Controversies: Accused of wash trading and rug pulls—trademark crypto drama—and funding projects that vanished faster than a magician’s assistant.
What keeps it alive? Sponsorships, hype, and a vague sense of mystique.

Bitunix

Origin: Around 2021, based in Saint Vincent—because where else would a shady exchange hang out?
Controversies: Flagged by ZachXBT for flouting South Korean regulations, implying it’s playing in a sandbox way too small for the big kids.
What keeps it ticking? Niche altcoin listings, bonuses, and traders chasing the next quick hit.

Did you know? Many sketchy projects claim “internal audits” or skip them altogether—exposing users to bugs, exploits, and a touch of chaos. Smart contracts? More like “un-smart contracts,” I dare say. 🕵️‍♂️

When shady projects masquerade as sponsors: A tale of two tales

JPEX

At Token2049, JPEX paid a hefty $70,000 to be a platinum sponsor—giving an aura of credibility, darling. Then, mid-September 2023, regulators in Hong Kong warned everyone to keep their distance. Poof—it vanished faster than a magician’s rabbit! And suddenly, withdrawals froze, exorbitant fees appeared, and accusations piled higher than a London fog. Investor losses soared into the billions.

HyperVerse

Picture this: a lavish party on a $40 million yacht, rapper Rick Ross galore, promising a utopian virtual realm. Reality? It was a Ponzi, stealing nearly $2 billion—leaving investors with nothing but a yacht-sized headache. The promoters? Now on the US SEC’s naughty list, charged with more fraud than a carnival con man.

Factoid: Some shady coins pretend to be shiny with bots, fake volume, and fake credibility—so do your homework, sweethearts, before you fall for glittering traps. ✨

For the rookies: How to spot a crook

If you’re just dipping your toes, be alert. Check team credentials—anonymous founders are more common than pigeons in Trafalgar Square. Beware of marketing blitzes and exaggerated promises. Scrutinize liquidity—low trading volume is a red flag. Read the tokenomics—if it looks like a roulette wheel, stay away. Only trust exchanges with a decent reputation—and remember: if it’s too good to be true, it probably is.

In this wild crypto playground, shady coins survive because they’re cunning, community-driven, and often just a passing fancy. Know the game, and don’t let them pull the wool over your eyes—unless you fancy a good laugh and a lesson, in which case, carry on! 😉

2025-08-02 21:43