Rapper Ye, previously often called Kanye West, has urged Coinbase CEO Brian Armstrong to keep away from intermediaries, following his revelation that he rejected a $2 million provide to advertise a fraudulent cryptocurrency scheme.
In a Feb. 7 publish on X, Ye disclosed that he was approached with a proposal to deceive his followers by endorsing a crypto undertaking and later claiming his account had been hacked.
The deal provided an upfront cost of $750,000 for an preliminary publish, with a follow-up payout of $1.25 million after 16 hours.
Ye said he refused the provide and lower ties with the person who pitched it. The revelation highlights ongoing scams concentrating on celebrities to take advantage of their affect within the crypto area.
“I used to be proposed 2 million {dollars} to rip-off my group. These left of it. I mentioned no and stopped working with their one who proposed it,” West mentioned in a Feb. 7 X publish.
West revealed that the scheme required him to advertise a fraudulent crypto undertaking to his 32.6 million followers, solely to later declare his account had been “hacked.”
This tactic would have allowed scammers to revenue earlier than victims grew to become conscious of the deception.