Following a $7 million token presale, an influencer has received a settlement demand via a nonfungible token (NFT). The NFT, which included several instances of the "F-bomb," accused the influencer of participating in wire fraud, at the very least. The demand letter was served to the wallet address associated with the influencer known as Ben.eth, whose true identity remains undisclosed.
According to Mike Kanovitz, a partner at Loevy & Loevy law firm, the allegations are based on the influencer's employment of a manipulative launch strategy for the Psyop (PSYOP) token, which successfully raised $7 million during its initial presale spanning 72 hours. Concerns were raised regarding the structure of the liquidity pools (LP) and the distribution of tokens following the presale, as they seemed to "trickle out."
After the settlement demand letter was shared on Twitter, Ben.eth responded by stating that 50% of the tokens had already been sent out, with the remaining portion to be distributed shortly.
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