Rapper Soulja Boy has apologized for selling dozens of cryptocurrency and non-fungible token initiatives that have been reported as fraudulent by blockchain researcher ZachXBT in 2023.
The “Crank It” artist’s social media exercise from 2021 to 2023 consists of a number of posts selling crypto tokens and NFT collections to his tens of millions of followers. ZachXBT claims that many of those promotions concerned initiatives that both collapsed, have been deserted, or have been fully fraudulent inside days of his message.
Soulja Boy, whose actual title is DeAndre Cortez Manner, addressed the allegations in an announcement posted to X early Monday morning. He stated he was not conscious of the challenge’s fraud on the time and acknowledged previous errors in judgment.
“I wish to be clear and clear. I had no concept {that a} scammer named Sahil was concerned or that he was paying me to advertise one thing fraudulent. Again then, I used to be doing paid promotions with out understanding the crypto/NFT area like I do now. This was a few years in the past and I’ve discovered so much since then,” the rapper-turned-cryptocurrency investor claimed.
I wish to be clear.
I had no concept {that a} scammer named Sahil was concerned or that he was paying me to advertise his rip-off. On the time, I used to be doing paid promotions with out understanding the cryptocurrency/NFT area as a lot as I do now.This was a few years in the past and I… https://t.co/y4g2Qno6LS
— Soulja Boy (Draco) (@souljaboy) December 14, 2025
He went on to apologize to his followers, saying it was “really sorry and was by no means his intention” to advertise a rug-pulling challenge. “I take accountability for not doing deeper due diligence on the time. I’ve acted fully in a different way since then. Progress is studying from errors,” Soulja Boy concluded.
ZachXBT lists 5 rip-off initiatives promoted by Soulja Boy
In accordance with ZachXBT’s X thread from April 2023, Soulja Boy has promoted cryptocurrencies and NFT drops at the very least 73 occasions since March 2021. Investigators stated 16 of the NFT collections the rapper praised later become scams or failed ventures, Cryptopolitan stated. reported.
One of many examples cited was a token generally known as RAPDOGE, which Soulja Boy talked about a number of occasions in mid-2021. “On July 19, 2021, Soulja Boy tweeted, ‘Pump up $RAPDOGE to $.000001 and get all your folks in on this, you lilyachty with me.’ Within the hours that adopted, the rug was pulled from the challenge after additionally receiving sills from Lil Yachty and Quavo,” investigators wrote.
RAPDOGE tokens subsequently disappeared and traders suffered losses as liquidity was withdrawn shortly after the promotion was promoted.
ZachXBT additionally spoke about Soulja Boy’s battle with the U.S. Securities and Change Fee (SEC). The SEC accused him and a number of other different celebrities of illegally selling tronix (TRX) and BitTorrent (BTT).
The SEC argued that the promotion did not disclose that the rapper was paid for endorsing Token, together with actor Lindsay Lohan, WWE athlete and influencer Jake Paul, and artists Akon and Ne-Yo.
Two initiatives generally known as Orion and The Life Token have been additionally a part of Soulja Boy’s cake, which he allegedly used for charity.
“Orion and LifeToken, these two initiatives used most cancers and suicide prevention charities as a option to drive up costs. Inside a month of Orion’s Hill, it was hardened and Twitter was deleted. LifeToken was deserted in early 2022,” ZachXBT speculated.
Soulja Boy promoted one other challenge known as Flokinomics, which fraudulently claimed to be associated to Elon Musk and paid for media promotion to make it seem genuine, however its liquidity was in the end taken away. ZachXBT estimates that the “Superman” rapper earned greater than $730,000 from selling cryptocurrencies and NFTs throughout the interval coated.
Celeb acquitted of 2-year Cryptozoo case
A number of well-known names have been talked about final yr together with failed crypto initiatives, however maybe essentially the most talked about was Logan Paul’s Cryptozoo craze. The WWE famous person and on-line persona has concluded the chapter on the defunct NFT challenge’s authorized dispute after a U.S. district decide upheld the dismissal of a class-action lawsuit that accused him of deceptive traders.
The lawsuit, filed in 2023, alleges that Paul and his associates promoted an NFT-based recreation that promised earnings via the breeding and buying and selling of digital animals. The challenge by no means totally took off, resulting in claims that traders had been defrauded and that the hassle was a “rug rug pulled out.”
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