Influencer served settlement demand via NFT, following $7M token presale


A nonfungible token (NFT) influencer has been served with a settlement demand via NFT – which casually dropped the “F bomb” several times – alleging that the influencer engaged in wire fraud “at a minimum,” on a recent $7 million token presale.

Lawyer Mike Kanovitz, a partner at Loevy & Loevy, stated in a tweet on May 20 that a settlement demand letter has been served as an NFT to the wallet address associated with the influencer known as ‘Ben.eth,’ whose real identity remains undisclosed.

He alleged that Ben.eth “used a manipulative launch strategy” for the token ‘$PSYOP,’ which raised $7 million in its inital pre-sale over 72 hours.

Related articles

The concerns revolved around how the liquidity pools (LP) were structured and the way that the tokens “trickled out” after the presale.

Shortly after the letter was published on Twitter, Ben.eth tweeted that 50% of the tokens have been sent out and “the rest will be sent in short order.”

“At a minimum, you would be guilty of wire fraud, which is a predicate act for racketeering and the basis for a treble damages award against you ($7 million becomes $21 million)” the letter stated.

Kanovitz noted that a “refund is the stand-up thing to do.” However, he warned of potential legal action if refunds weren’t provided:

“So, just send back the ETH. The matter will be over, and you and your victims can all go on with their lives. But if you insist on fucking over thousands of people, my law firm will step up to right that injustice.”

Furthermore, he warned of a potentially “painful” process for Ben.eth if the letter is not complied with.

“The suit will name you personally as well as your alias and will be served at your home” the letter stated.

Kanovitz further threatened a subpoena on the alleged influencers communications which he said, “that evidence will put the final nails in your coffin.”

He further added that he will reveal the in-real-life (IRL) identities of the influencers’ co-conspirators.

Kanovitz concluded the letter stating “you are engaging in real fraud, and it is hurting real people. There will be consequences if you don’t make it right.”

In response to the letter, Ben.eth retweeted the letter several hours later on May 20 stating that the letter is “so unprofessional it could get them in trouble with the bar association.”

Cointelegraph reached out to Ben.eth for comment but did not receive a response by the time of publication.

Disclaimer: CryptoNewsBook is an online aggregator that fetches latest crypto news from different sources. This article is provided for general information purposes ONLY and contains data fetched from third party sources; hence, we do not endorse its accuracy. For more details, kindly visit The Source. Please report any fake news or false statement to Our Support Team. If you are the original owner of this content and wish it to be removed on this platform, kindly forward your request to Our Support Team.
Also Note: Cryptocurrencies are unregulated, and no part of this article should be understood nor interpreted as a recommendation/advice. #s1

Related Posts