Bittime - On Sunday (02/06/24), it was reported that the results of monitoring by ablockchain, ZachXBT, revealed that former American professional boxer, Floyd Mayweather had deleted tweets containing fraudulent information. ZachXBT revealed that Floyd Mayweather has previously been involved in NFT scam projects such as Mayweverse and RealFloydNFT, as well as promoting scam projects Ethereum Max, Bored Bunny, Moonshot, and the 2018 ICO.
Who is Floyd Mayweather?
Floyd Mayweather is a former boxer who was born on February 24, 1977. He is an American former professional boxer who is undefeated in 50 fights, with 27 of them won by knockout.
Mayweather is known for his incredible defensive skills, hand speed and high boxing intelligence. His brilliant career led him to win various world titles in five different weight classes.
Apart from being in the ring, Mayweather is also known as a successful businessman and controversial figure. He is often in the media spotlight not only because of his achievements in the world of boxing, but also his luxurious lifestyle and the various businesses he runs.
After retiring from boxing, Mayweather began to be involved in various projects, including those related to cryptocurrencies and NFTs (Non Fungible Tokens) , which apparently gave rise to new controversies.
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Floyd Mayweather Promoted Mayweverse and RealFloydNFT
Mayweverse and RealFloydNFT are two alleged fraudulent NFT projects promoted by Mayweather. NFTs, or Non-Fungible Tokens, are unique digital assets that are traded on the blockchain. In recent years, NFTs have become a huge phenomenon, attracting the attention of celebrities and investors.
However, this fame also attracts fraudsters looking for instant profits. Mayweverse and RealFloydNFT are promoted with grandiose promises of value and investment potential, but in reality, these projects provide no real returns to investors.
Mayweather's deletion of tweets related to these projects adds to suspicions that the projects are indeed fraudulent.
Promotion of Another Fraudulent Project by Floyd Mayweather
Apart from Mayweverse and RealFloydNFT, ZachXBT also revealed Mayweather's involvement in promoting several other fraudulent projects. Ethereum Max, Bored Bunny and Moonshot are some of the projects that Mayweather has promoted.
In the case of Ethereum Max, the token was heavily promoted by several celebrities, including Mayweather only to experience a sharp decline in value, even harming many investors.
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This kind of promotion often uses the popularity and influence of celebrities to attract large investments from the public. These celebrities, including Mayweather, are often paid to promote these projects without regard to the risks or legitimacy of the projects they are supporting.
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ICOs of 2018: A History of Fraud Repeatedly
Not only in NFTs, Mayweather was also involved in an Initial Coin Offering (ICO) scheme in 2018. ICO is a method of raising funds for new cryptocurrency projects, where investors buy new tokens issued by the project in the hope that these tokens will increase in value.
However, in 2018, many ICOs turned out to be fraudulent schemes, where the projects did not deliver the products or services they had previously promised.
Also read: Memecoin Slothana (SLOTH) is selling well even though it's just an ICO
In this case, Floyd Mayweather became the promotional face of several ICOs that ultimately proved worthless. This experience should be a lesson for investors to be more careful when investing in new projects, especially those promoted by celebrities.
The Importance of Investor Awareness and Education
Cases like the one revealed by ZachXBT show how important awareness and education are for investors. In this digital era, where information can quickly spread widely, investors must always carry out in-depth research before investing.
Relying on promotions from celebrities or well-known figures does not guarantee the safety or profitability of the investment. ZachXBT himself has become an important figure in efforts to rid the crypto industry of fraud.
With its expertise in analyzing blockchain data, ZachXBT is able to identify fraud patterns and reveal the perpetrators behind them. Work like this is critical to maintaining the integrity and credibility of the cryptocurrency and NFT industry.
Conclusion
Floyd Mayweather's removal of tweets containing fraudulent information is a small step towards transparency, but it also highlights a larger problem in the crypto industry.
The involvement of celebrities in promoting fraudulent projects adds complexity to protecting investors. Education and awareness are key to preventing future losses. With the information revealed by ZachXBT, we can be more alert to rampant fraud schemes.
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How to Buy Bitcoin (BTC) on Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with the market pair BTC/IDR . To be able to buy BTC/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Bitcoin (BTC) on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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