Successful Launch of SOMESING’s Beta Service, ‘My Hand-Carry Studio Karaoke App’
May 21, 2023 10:06 UTC
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May 21, 2023 at 10:06 UTC
It said the Liquidity Pools setup and “dripping” of tokens constituted a “manipulative launch strategy”.
A settlement request was sent to a nonfungible token (NFT) influencer via NFT, who casually dropped “F bombs” multiple times, indicating that the influencer had participated in wire fraud in the recent $7 million token presale, at the very least. .
On May 20, attorney Mike Kanovitz, a partner at Loevy & Loevy, tweeted that a “settlement request letter has served as an NFT” to a wallet address linked to an influencer known as “Ben.eth,” whose real identity remains unknown.
Ben.eth allegedly “used a manipulative launch strategy” for the $PSYOP token, which raised $7 million in the initial pre-sale over a 72-hour period, according to its allegations. Issues center around the design of Liquidity Pools (LP) and how tokens “drip” during the presale.
Ben.eth tweeted immediately after the allegation that 50% of the tokens had already been sent and that “the rest will be delivered in no time.”
The letter read, “At the very least, you will be guilty of wire fraud, which is a predicate act of blackmail and grounds for triple damages against you ($7 million to $21 million).”
In the letter, Kanovitz said that issuing a refund “was the thing to do.” However, he submitted a legal notice if a refund was not provided:
“So, just send back the ETH. You, your victim, and the situation will be resolved, allowing everyone to move on with their lives. My law firm will take action to correct that injustice if you insist on sleeping with thousands of people.
In addition, if the letter is not complied with, he warns that Ben.eth may face “painful” proceedings that will follow court papers.
He explained, “The suit will be presented at your residence and will bear your personal name as well as your pseudonym.
Additionally, Kanovitz threatened to issue subpoenas for communications of influential defendants, claiming that “that evidence will put the final nail in your coffin.”
He went on to say he would reveal the identities of the influencers’ real-life (IRL) accomplices.
“You are actually engaging in fraud, and it is hurting real people,” Kanovitz said in the letter’s conclusion. If you don’t do it right, there will be consequences.
On May 20, hours after receiving the letter, Ben.eth replied that it was “so unprofessional it could get them in trouble with the bar association”.
Ben.eth was contacted by Cointelegraph for comment, but no response was received at the time this article was published.
