Crypto Influencer Promoting Rug Projects Busted.
Popular crypto Influencer, Lark Davis with verified Twitter account: @thecryptolark has been exposed for promoting low cap projects to his over one million followers so as to dump his token quota on them shortly after.
Thank you for reading this post, don't forget to subscribe!
Zach XBT, a self professed victim and survivor of crypto rug and pull scams turned 2D investigator revealed this in a recent Twitter thread.
The investigator cited eight different exhibits to nail his accusations against Lark Davis. On how he unraveled Lark Davis identity as the face behind many rug and pull projects, Zach revealed that he got hold of Davis wallet address from an old YouTube video with the wallet address for donations.
The UMB token February 2021 bullish launch and subsequent dump according to investigation was Lark Davis manipulations. Before launch, Lark tweeted, ” Wow $umb exploded on listing ! This market is wild right now.”
“a) Feb 9, 2021 at 4 pm UTC Lark receives 62.5k UMB at launch
b) Feb 9, 2021 at 8:16 pm UTC Lark makes a tweet about the launch
c) Over next few hours Lark dumps all of the 62.5k UMB for over $136k USD.”
Other rug and pull projects Lark Davis was accused of masterminding includes ; DOWS and SHOPX token launch, PMON, BLES, TGE, BMI, XED and APY.
Zack noted that the “common theme you’ll find between launchpad projects is awful tokenomics which is why a ton went to zero before the bear market even began. Also no decent VCs really ever touch them.
Also Read: How to Spot a Scam in DeFi and Tips to DYOR Before Investing in DeFi
Participating in seed rounds & sharing projects you genuinely like is completely fine as long as it’s done in a transparent manner.
This is not the case as Lark has a pattern of dumping his discounted launchpad bags right after shills across YT, Twitter, & newsletter.”
“Collectively between the 8 examples cited, Lark made $1.2m+ of low caps dumped and for many of the projects it was just the first unlock.
Between all the YouTubers I’ve dug into this is easily one of the more egregious instances of dumping on followers I’ve seen.”
IFEANYI!!!! how many times did I call you.
But on a more serious note it takes only an investigator with a rug and pull personal experience to be able to pull this off. Kudos to Zack!