FLOKI Addresses Rumors and Denies Association with PetabyteCapital – What's Going On?
FLOKI INU, a popular crypto meme project, addressed users on X about allegations and rumors about its projects and warned the crypto community to beware of anyone using their brand name and reputation to promote any project to them, as it is likely a scam.
FLOKI used their X handle @RealFlokiInu to clarify the rumors of PetabyteCapital's association with the project.
FLOKI also stated that the project does not have a founder or co-founder.
"We would like to clarify that PetabyteCapital is not and was NEVER a $FLOKI co-founder. #Floki is a community project in the true sense of the word and has never had a founder or co-founder. "
FLOKI made this announcement following several reports of scam projects and individuals associating themselves with them.
The effort was also intensified when they saw some projects claiming to have a FLoKI co-founder to gain trust and hype around their project.
The initial warning came when an account on X reported PetabyteCapital in a tweet for claiming to be a FlOKI co-founder and promoting a scam project on his timeline.
Blockchain sleuth ZachXBt called out two accounts, TraderNJ1 and PetaByteCapital, for allegedly deceiving multiple projects by leveraging the names of other influencers or projects to obtain free tokens from CBOT and BABYSHIB to dump on their undisclosed followers.
In the case of BABYSHIB, it was highlighted that NJ and Peta allegedly deviated from the original agreement by failing to promote the project as promised and promptly selling their holdings.
A similar pattern emerged with CBOT, where NJ and Peta purportedly negotiated for a percentage of the token supply in exchange for marketing efforts.
However, subsequent actions indicated a different agenda, with tokens being
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