The news of the lawsuit came, this time for the PSYOP altcoin, which was recently released by an anonymous Twitter user ben.eth and allegedly a fake project.
The anonymous founder, ben.eth, shared the Ethereum address on Twitter with the promise of airdrop of the altcoin in question and collected $ 7 million in a short time.
However, many analysts and experts stated that the token in question would be worthless and warned users not to send tokens to this Ethereum address.
PSYOP Token Holders Lose 50 Percent in 1 Day
According to the latest data, holders of PSYOP altcoins distributed by ben.eth have lost 50%, and when they sell their acquired PSYOP tokens, they can receive half as much ETH as the Ethereum they sent.
After this loss, Mike Kanovitz, a lawyer close to the cryptocurrency world, claimed that he is facing a class action lawsuit if ben.eth does not return the Ethereum tokens it received:
“To eth.me and PSYOP:
My law firm, Loevy & Loevy, will file a class action lawsuit against you in your real name if you do not promptly refund all PSYOP presale buyers.
Our settlement request letter has been sent as NFT to your ben.eth address.”
In response, ben.eth said it would file a lawsuit against Mike Kanovitz.
There are strong suspicions that the token in question is a pump-and-dump scheme.
Many investors from Turkey also state that they sent ETH to this person with the promise of earning an airdrop.
In order not to be affected by such situations, experts warn investors to stay away from all kinds of projects that promise astronomical profits. In addition, people who ask you for any payment with the promise that they will send more later should not be respected.
*Not investment advice.