The situation has left many in the crypto community raising their eyebrows.
They wonder whether this was a genuine mistake or just another case of a celebrity cashing in on the hype. Let’s discover more about this scam token.
Rich The Kid Faces Backlash Over Alleged Crypto Scam
Rich The Kid, known for his hit songs and flashy lifestyle, posted about a new cryptocurrency token, hyping it up as the next big thing. However, crypto sleuths quickly noticed red flags. The token had all the classic signs of a rugpull—a scam where developers pump up a coin’s value before pulling the plug and vanishing with investors’ money.
Within hours of his post, blockchain trackers reported that the token’s liquidity was drained, leaving buyers with worthless coins.
🚨 ALERT: @RICHTHEKID has posted about a fake Kanye coin! It seems that their account may be compromised. Stay vigilant and avoid any potential scams!
Stop chasing Rugs!! pic.twitter.com/pTAa8Tunit
— ℂ𝕣𝕪𝕡𝕥𝕠𝔼𝕞𝕡𝕣𝕖𝕤𝕤🤍 (@CryptoEmpressX) February 23, 2025
Shortly after the token crashed, Rich The Kid deleted his promotional post without any explanation. But in the internet age, nothing ever truly disappears. Screenshots of his post circulated quickly, with many users calling him out for promoting what looked like a clear scam. The backlash was swift, with some accusing him of knowingly misleading fans for a quick payday.
The leason here is to always do your research before jumping into a new crypto project, no matter who’s promoting it. Just because a celebrity is endorsing a coin doesn’t mean it’s legit.
More About Crypto Scams
Scammers on PumpFun are raking in over $100K daily by launching pump-and-dump tokens, leaving most gamblers with empty pockets—99% of them lose. These schemes lure in buyers with hype before insiders cash out, draining liquidity and crashing the price. Here is an interest thread about it.
Scammers are making $100k+ daily on PumpFun
Gambling leads to losses in 99% of cases because of them
Spot scam tokens early and how to win in the trenches🧵👇 pic.twitter.com/DBNRjuxdpF
— Enoinel (@lenioneall) February 18, 2025
To avoid getting burned, spotting scam tokens early is key—watch for anonymous devs, locked liquidity, and sudden supply changes. The only way to win in these trenches is by staying sharp, acting fast, and recognizing when a “moonshot” is just another rug waiting to happen.
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