Community Warns Against Sending Funds to BEN.eth in $LOYAL Pre-Sale

© Reuters Community Warns Against Sending Funds to BEN.eth in $LOYAL Pre-Sale

• Crypto influencer issues a cautionary message about Bitboy’s pre-sale project.
• He expressed disbelief at the $10 million funds amassed so far.
• Bitboy defends BEN coin, assuring the community it will benefit from LOYAL.

In a recent tweet that has caused a stir in the crypto community, Crypto Tony, a prominent influencer, issued a strong cautionary message about a pre-sale project led by crypto personality Ben Armstrong, also known as Bitboy.

The influencer expressed astonishment at the amount of funds accrued so far by BEN.ETH, the token associated with Armstrong’s latest venture, called LOYAL. Specifically, nearly 2k Ethereum (ETH) token, equivalent to over $10 million, has been deposited to the BEN address in question.

With a touch of disbelief, the influencer warned followers against sending money to Armstrong, emphasizing the perceived irrationality of such an action. While some people see it as gambling, others consider it an old-fashioned money laundering scheme.

$10,000,000 accrued so far by BEN.ETH on yet another pre sale he is doing called $LOYAL ..Absolutely mental to anyone sending this guy money pic.twitter.com/aewNecfP8O

— Crypto Tony (@CryptoTony__) May 27, 2023

This proclamation comes at a time when Armstrong has assumed control over the BEN coin project, which primarily operates as a meme coin.

In response to the concerns raised, Armstrong took to Twitter to shed light on the situation. He assured the community that the BEN coin, the primary focus of his efforts, would benefit from the LOYAL project.

Armstrong suggested that the connection and vision behind the two initiatives will become apparent to believers of the BEN coin in due course. The tweet further highlighted Armstrong’s intention to consolidate the “BEN Nation” by collaborating with the Ben community.

$BEN coin will only benefit from $LOYAL. It doesn’t make sense to fade one for the other. $BEN believers will see the vision and connection soon. $BEN is still my main focus. The move to join @eth_ben is for the $BEN Nation.

— Ben Armstrong (@Bitboy_Crypto) May 27, 2023

Early this month, the Ripple chief technology officer (CTO), David Schwartz, expressed agreement with the sentiment that the BEN meme coin project is a potential rug pull, as reported by Coin Edition.

In the tweet, Schwartz raised concerns about Armstrong’s decision to join the team, suggesting a connection between his involvement and the potential for a scam.

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