Current reviews recommend that rapper and entrepreneur Kanye West, now referred to as Ye, could have bought his X (previously Twitter) account to Barkmeta. The sale allegedly comes forward of a deliberate crypto launch.
The venture has raised issues, with allegations that untrustworthy third-party teams with a observe document of fraud are concerned. Crypto influencers are elevating purple flags, warning that it may very well be a possible rip-off.
On the middle of the controversy is Barkmeta. Barkmeta is a meme coin dealer and Doginals determine who is claimed to have acquired Ye’s X account. Trade insiders have lengthy accused Barkmeta of orchestrating fraudulent ventures.
On-chain analyst Blade pointed to a troubling observe document of Barkmeta.
“He has over 200k dwell viewers and submit crypto workers every day. What you don’t know is that he’s additionally one of many greatest Twitter scammers,” the submit learn.
In 2022, Barkmeta allegedly masterminded the POX token rug pull. Extra lately, in 2023, Barkmeta collaborated with well-known crypto merchants to launch the DeFiApes non-fungible token (NFT) assortment. The venture raked in over 22,000 Ethereum (ETH).
It was valued at greater than $40 million on the time. However, the staff reportedly deserted it, triggering a worth collapse that worn out over 90% of traders’ funds.
Blade additionally drew consideration to mounting proof of his ties to Ye’s crypto enterprise.
“Kanye West bought his X account for $17 MILLION. Essentially the most anticipated meme coin launch is Barkmeta’s RUGPULL,” he remarked.
Following Ye’s announcement of an upcoming token launch, Barkmeta hosted a Twitter House to hype the venture. He boldly proclaimed it to be “the largest meme coin” and promised straightforward earnings for all.
But, because the dialogue unfolded, Blade famous Barkmeta’s evasive responses to essential questions, describing him as tense and unconvincing.
Including to the suspicion, Ye’s official X account started following one in every of Barkmeta’s staff members, referred to as Tall—a determine Blade alleges is an alternate Barkmeta account.
One other suspicious element Blade highlighted was a dramatic shift in his writing model. His posts had been solely about cryptocurrency, aggressively hyping up the meme coin launch.
“The possibility of YE’s bought account is above 95%. I don’t suggest you to purchase Kanye’s meme coin in any case,” he concluded.
Additional complicating issues, customers have additionally alleged that Barkmeta controls the AB84 X account. On February 23, the account promoted a supposed “Yeezy Coin.” The token was rapidly uncovered as a rip-off after being rug pulled inside hours.
“So the staff that dropped a faux Ye rip-off coin yesterday is now a part of the official coin. (FYI AB doesn’t even know what occurred yesterday as a result of he bought his account),” one other consumer posted.
Nonetheless, Barkmeta poked enjoyable on the state of affairs.
“Kanye West 100% bought his account (to me) evaluating his early tweets to his tweets now, utterly totally different in nearly each means (as a result of it’s me) folks don’t change that radically that rapidly, no matter private state of affairs (as a result of I’m on it),” he posted.
The account additionally shared a picture displaying two telephones. One allegedly was logged into Ye’s X account, and the opposite displayed his personal. The submit intensified hypothesis that Barkmeta had direct entry to Ye’s social media.
In response, Ye denied any involvement.
“This isn’t actual. I don’t know this individual,” he mentioned
He acknowledged previous betrayals however referred to as his coin launch “subsequent degree.”
“After I do launch my coin I’ll make it very clear and really official,” he added.
Whereas the launch date has but to be confirmed, a crypto consumer has reported that the official Ye meme coin, YZY, seems to have been deployed.
In line with the consumer, Yeezy prospects acquired a message directing them to an internet site referred to as BankofYZY. But, he cautioned towards interacting with the hyperlink.
“I’m not utterly sure it’s not a leak from the Yeezy database, however the token does exist, though it’s at present with out liquidity,” he acknowledged.
With mounting issues over Barkmeta’s position and Ye’s sudden shift in on-line exercise, the crypto neighborhood is bracing for what comes subsequent.
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