PSYOP memecoin faces identification disaster amidst questionable token launch

The creator of a memecoin referred to as $PSYOP has accused one other particular person of imitating his token, whereas the token itself has been referred to as a rip-off by an impartial media studio.

$PSYOP creator says different token is rip-off

Twitter consumer eth_ben (@ben.eth) mentioned that one other consumer by the identify of @3orovik has launched a separate $PSYOP token with the identical identify as his personal.

On May 18, @ben.eth wrote on Twitter:

“No token launched but. All the things else is a rip-off. Chill. Going over the [liquidity pool] numbers now.”

Each @ben.eth and @3orovik mentioned that any hypothetical investigation by the Securities and Change Fee (SEC) wouldn’t discover any transactions between them. There doesn’t seem like any investigation underway regardless of their issues.

$PSYOP itself has little substance, and profiles associated to the token function crude art work. As such, the asset has little integrity no matter its creator’s intentions.

Media studio denounces venture

Individually, a media studio additionally named Psyop tried to distance itself from the token on May 16. It mentioned it had no relationship with @ben.eth’s token and mentioned that associated spam accounts are “infringing [its] model’s content material to advertise the bogus token.”

The media studio alleged that the $PSYOP token is a “rip-off from prime to backside.” It additionally mentioned that has reported the token sale, although it didn’t say who it reported the sale to.

“We hope to see all of it eliminated ASAP,” the studio mentioned.

There isn’t a indication that @ben.eth meant for the token to capitalize on the studio, which itself seems to be a minor firm. Nonetheless, the studio’s complaints have advantage because of the token’s total lack of integrity.

The put up PSYOP memecoin faces identification disaster amidst questionable token launch appeared first on CryptoSlate.

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