The former marketer of the decentralized finance protocol (SafeMoon), Ben Philips was called out by the popular Youtuber Coffeezilla a.k.a Stephen Findeisen who investigates online scam. Stephen Findeisen is known for exposing fraud crypto dealings of celebrities such as Post Malone and The Weeknd. SafeMoon is currently trading at a price of $0.0006170 on a pair SFM/USDT, on Gate.io cryptocurrency exchange platform.
How Former Chief Marketing Officer Of SafeMoon Pumped and Dumped The Token
Ben Philips is a British YouTuber, a social influencer and served as the Chief Marketing Officer for the SafeMoon project. Ben Philips currently has more than 4 million subscribers on YouTube and over 700,000 followers on Twitter. He is one of the influencers that is deeply involved in the crypto space and the world of NFTs. Ben Philips started as a prankster on Vine and then on YouTube with his “Sorry bro” series, where he’d play tricks on his brother.
In March, 2021, SafeMoon was launched and gained a considerable huge number of followers. One of the factors was because Ben Philips was the CMO of the project and had a huge number of followers, so he regularly promoted the project to them. The same month SafeMoon was launched, Ben tweeted his SafeMoon wallet and this, according to a video released by Coffeezilla, was the basis on which he conducted his research.
On April 12, 2021, Ben Philips shared his wallet address requesting his followers to pay for his Starbucks, and it was reported by Coffeezillla that Ben bought SafeMoon worth $4 million between March and December 2021 on pancakeswap and accumulated it within this period. Coffeezilla explained that Ben Philips’ goal was to present a bullish stance on social media and then caused FOMO among investors which pumped the price of the SafeMoon token as liquidity flowed to the token.
According to the investigations from Coffeezilla, this was the marketing strategy Ben used,receiving 5.2 trillions of the SafeMoon token for his work as part of the marketing team. Ben promoted the coin to millions of his followers but never told them he was getting paid for it according to Coffeezilla. In a series of now-deleted tweets, Ben revealed to his fans that he would hold onto his bag and in April, he tweeted that he felt bad for anyone who sold again. His actions pumped the SafeMoon price and he made some gains according to the report.
Ben Philip made a sum of more than $12 million dollars in profit from the alleged pump and dump campaign within a period of ten months according to the calculations made by Coffeezilla. Ben bought $4 million worth of the token and sold over $16 million dollars which he used to buy himself a Rolls Royce. worth millions of dollars and chartered himself a private jet to Scotland with his girlfriend.
At the time of writing, the YouTuber is yet to respond to these allegations leveled against him by Coffeezilla. Will all these allegations affect the price of the SafeMoon token or is it FUD?