Matt Wallace, one of the famous Dogecoin (DOGE) phenomena with his posts on social media platforms, has released a new token. However, it turned out that he defrauded those who invested in this token. It has been reported that an “exit scam” was made with the token on many platforms such as Twitter. Here are the details…
The token of the Dogecoin phenomenon was a “scam” tool
Matt Wallace, one of the Dogecoin phenomena, has revealed a project that is said to aim for Dogecoin and cryptocurrencies to be accepted as a payment method by businesses. It was aimed that the income from this project, called “Accept Crypto”, would be distributed to people working in businesses to accept cryptocurrencies. Wallace partnered with Myles G for the project. Myles G is jailed for fraud and robbery. After Wallace launched the cryptocurrency called Accept Crypto, the cryptocurrency first rose. Then it lost almost all of its value.
This is the case with Mr. It also caught the attention of Whale, calling Matt Wallace’s cryptocurrency project an “exit scam”. As we have also reported as Kriptokoin.com, an “exit scam” in the world of cryptocurrencies means the disappearance of the sponsors or founders of the project, along with the money of the investors, during or after the launch of a project. However, in this case, it is also seen as a “honeypot scam” as investors cannot withdraw even if they invest in cryptocurrencies.
DOGE founder reacted
An account named Coffeezilla shared that Matt Wallace’s Telegram group was a total “chaos”, while Wallace was struggling to explain what happened. Coffeezilla noted that Wallace launched a “shitcoin” and instantly “rugpull” took place. Billy Markus, one of DOGE’s developers, shared the tweet and expressed his anger.
Markus, “I don’t want to declare scammers. Because it leads to harassment and death threats. But in this case, Dogecoin’s reputation was at stake. If the community members had not taken action, this disaster would have been called “Accept Doge”. It is known that the project will first be released under the name Accept Doge, but the Dogecoin Foundation has prevented this.
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