Lil Tay Crypto Coin Scam Explained: A cryptocurrency coin with her name was released less than a day after Lil Tay, whose real name was Claire Hope and who was 15 years old, announced her death on her confirmed Instagram account. Her boss said that the Lil Tay crypto coin seemed to be a scam.
On Thursday morning, 100 coins worth of the Lil Tay cryptocurrency went live on the BNB Smart Chain. So far, no one has come forward to claim the coin as their own.
Harry Tsang, who used to be Tay’s boss, told Insider that he had been planning to make a digital coin for Lil Tay and had started working on it in April. Still, he said he had nothing to do with the one that was launched. On Thursday, he stopped running a website for Lil Tay tokens that he had set up earlier this year.
“That’s definitely not me. I already told everyone to be careful. We’re not like that. Everything was just taken down, including the website,” he said. This proves that the Lil Tay cryptocurrency is a scam.
Lil Tay’s Crypto Coin is Not Real
Harry Tsang, who used to be Lil Tay’s boss, said that he helped come up with the idea for a Lil Tay crypto coin before it came out of the blue. He said that he had been working on the ticket since April.
Tsang, on the other hand, strongly denied that he had anything to do with the cryptocurrency that became public after people heard that Lil Tay had died. He said he had nothing to do with the new currency and took down a page he had made earlier in the year about the Lil Tay crypto coin.
Tsang warned Twitter users about a possible scam involving the newly released coin and told them to be careful with the Lil Tay crypto coin. This is a known way to trick people, so keep your eyes open and check the official sources for news.
Who is Lil Tay?
At age 9, Lil Tay’s crude and daring movies made her famous. She became known as “the world’s youngest flexer” because she often posed with expensive cars and big piles of cash. She worked with controversial YouTubers like Jake Paul and Danielle Bregoli, which caused an uproar and a never-ending stream of news stories.
When Lil Tay and her brother showed up on social media in 2021, they said that their father had hurt them physically and mentally. They also set up a GoFundMe page to raise money for court fees so that their mother could get full custody of the two children. Christopher Hope told Instagram to stop what they were doing because of the claims.
Local police and medical investigators in Vancouver, where Lil Tay spent some of her childhood, and Los Angeles, where she lives now, did not know of any investigations into the death of Claire Hope.
“Hacking Incident” Seems to Be the Cause of Lil Tay’s Death
Lil Tay said in a recent statement that her social media accounts were hacked but that she is still living. After an Instagram post, everyone on the internet thought she had died, but Lil Tay is still living and doing well.
The Lil, “I want to make it clear that my brother and I are safe and living, but I’m so sad that I can’t even find the right words to say. It’s been a very scary day and night. In a statement given to TMZ by her family, Tay says, “I spent all day yesterday getting heartbreaking and tearful phone calls from loved ones while trying to sort out this mess.”
How Long Does the Process of Making a Crypto Coin Take?
Creating a new cryptocurrency from the start can take anywhere from one to six months, depending on how complicated the blockchain and coin are. In addition to development time, people who want to make a cryptocurrency have to think about things like audits and starting an initial coin offering (ICO). Lil Tay crypto coin has been in the works for the past four to five months.
How much it costs to make a digital coin or token depends on how hard it is to make. Coins that are built on local blockchains and have a lot of customization are the most expensive. Putting out normal tokens on Ethereum might not cost anything.
Social Media Crypto Scams Can Steal All of Your Money
In the vast social media universe, cryptocurrency scams can sometimes be as hard to find as a chameleon in a rainforest. Most of the time, these scams look real, with websites that catch your eye, polished marketing materials, and attractive leaders who promise huge returns on your investment. But underneath the sparkling draw is a web of lies.
The “pump and dump” scheme is a common way to cheat people. In this tricky game of smoke and mirrors, scammers use excitement and false information to intentionally raise the price of a certain cryptocurrency.
When the price of a stock reaches a certain high point, they quickly sell it, leaving buyers with assets that are quickly losing value. It’s a modern version of an old confidence trick that could be financially disastrous.
Conclusion
Lil Tay, a 15-year-old YouTuber, announced her death on Instagram, and her boss, Harry Tsang, claimed the Lil Tay cryptocurrency was a scam. The cryptocurrency went live on the BNB Smart Chain on Thursday morning, with no one claiming it as their own.
Tsang, who was Tay’s boss, denied any involvement with the launch and took down a website for Lil Tay tokens. Lil Tay, known for her crude and daring movies, was known for working with controversial YouTubers.
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