FaZe Clan influencers Kay, together with Jarvis, Nikan and Teeqo are in deep crypto-scamming issue.
On their social media pages, FaZe Clan announced that they have already removed Kay from the organization. Jarvis, Nikan, and Teeqo on the other hand will be facing an indefinite suspension.
The announcement followed after these influencers got involved an issue regarding a crypto currency scamming scheme.
According to reports, said influencers engaged in ‘pumping and dumping’ various cryptocurrency ‘altcoins.’
Matt Binder of Mashable initially reported that influencers get involved in the scamming by fake promotion. According to them, influencers will promote and then quickly delete them the moment the currency shoots up.
In a ‘pump and dump scheme’, influencers will promote such currencies in order to make their price go higher. These influencers would then sell their massive shares from the currency the moment it reaches its peak.
FaZe Banks, in his previously deleted Tweet, showed how he was working on the scheme.
“This is a project I fuck with heavily and truly believe it’s the next one to pop. $10,000 winner chosen at random in 24 hours. Good luck you sexy fucks. #BSOCIAL (not financial advice lol),” he told.
Reports say Banks was paid to make the promotion online. However, the FaZe Clan member backed out of the deal citing a loophole.
In his case, Banks was not paid in crypto currency which means his payment was not boosted after his promotion.
Meanwhile, Kay spells a different case as she was paid in crypto. Reports say she withdrew her shares the moment ‘altcoins’ reached its peak.
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