Crypto Scam? Former NBA Player Accused Of $330K Rug Pull
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Former NBA player Scottie Pippen launched the Game 5 Ball (BALL) project, a real-world asset (RWA) project to tokenize the “legendary 1991 Game 5 championship ball.” After the launch, Pippen and the project were accused of rugging over 100 Ether (ETH) and being involved in other crypto scams. Now, Game 5 Ball’s team claims an alleged attack is responsible for the incident. Game 5 Championship Ball Immortalized On The Blockchain Basketball legend Scottie Pippen recently announced the launch of his Game 5 Ball RWA project. The crypto project aims to bring the “iconic piece of sports history to the blockchain for the first time” and preserve the ball’s legacy, “which marked the start of the Bulls’ dynasty, and is driven by the community.” Related Reading: US Senator Says VP Harris Crypto Campaign Is ‘Burdened By What Has Been’ The announcement received mixed reactions, with some crypto investors sharing their excitement for the project. A community member supported the basketball player’s efforts to “tokenize iconic sports memorabilia” but asked Pippen to “do things the right way.” Others praised the project’s goals and offered suggestions for a successful launch and continuous support from investors. Meanwhile, many community members considered that the project would be another celebrity scam. Some X users questioned the player’s integrity and called Game 5 Ball a “clear cash grab.” Despite the reception, the Game 5 Ball’s token, BALL, was launched on August 1. The project was surrounded by controversy after its price plummeted nearly 96% quickly after launching. BALL’s performance 16 hours after launching. Source: DEX Screener Online reports revealed that the drop was due to the team withdrawing 103 ETH, worth around $330,000, from the project’s wallet. The reports also claimed that “the team had launched 1 Hour before launch and sniped the tokens.” Crypto investors quickly…
Filed under: News - @ August 3, 2024 8:20 pm