Internet sensation Olajide JJ, also known as KSI, finally broke the silence on the crypto scam allegations against him. Several users, most notably, another internet influencer Coffeezilla, have accused the former content creator, now boxer of cooking a pump-and-dump scheme in the crypto market.
Things started when an X user by the user id @zachxbt accused JJ of pumping and dumping $XCAD tokens worth $850,000. XCAD is the native token of the watch-to-earn (W2E) cryptocurrency platform by the same name. The platform allows users to earn tokens for watching the content of their favorite creators. A pump-and-dump scheme is a common fraudulent practice that involves inflating the market price of an asset in one’s portfolio by creating a hype, and then unloading them once prices are up.
The user brought everyone’s attention to KSI’s X post that said: “All of a sudden, my $XCAD bag is looking juicy again. #HodlGang.”. @zachxbt asserted that following the post, JJ dumped 850 grands-worth of the token from his crypto wallet. He explained that he knew JJ’s wallet address because the British media personnel had displayed it several times on his posts.
In conversation with Coffeezilla, Zach continued to talk about more occasions where KSI could have scammed his fans. He added that Olajide had posted about two other NFT coins he was supposedly bullish on. Only hours after expressing his opinions, he allegedly unloaded $174,926 worth of them. Zach noted that it was a textbook example of pump-and-dump scamming.
Popular YouTuber Kavos commented that it now makes sense why KSI doesn’t call scammer Logan Paul out because he was too busy working out his scam. He also remarked that it’s such a shame that JJ is trying to rob his fans, despite being a multimillionaire. While Kavos has since taken back his accusations, Coffeezilla has continued to make videos on the topic despite KSI’s silence.
However, on Wednesday, Olajide finally retorted in a livestream, expressing his surprise at the possibility of his operating a scam. KSI continued that he doesn’t need to deceive his followers to make money and insisted that he had turned down several offers in the past, to maintain the integrity of his work. The sideman remained humorous throughout the conversation.
He continued by appreciating his fans for staying with him throughout the allegations. He reiterated that he got to where he is because of his fans and is not in his best interest to scam them. He added that he and Coffeezilla were on good terms and even had some good times together on the internet. However, the media influencer also trolled the fellow YouTuber saying that Coffeezella is doing this probably because he’s running short of money and his bills are due.
JJ explained that he sold the $XCAD tokens worth around a million dollars to invest in Luna, Terra’s native cryptocurrency token. He also claims that he is still bullish about XCAD and continues to hold some in his wallet.
About the two other tokens, KSI explained that they were simply two random cryptocurrencies he thought would make him money and that he didn’t know much about cryptocurrencies back then. He added that he did lose money in those investments and that he hopes no one takes his words as investment advice.
