Kenye West token, YZY another scam token

[_act_]

Why are people still falling for these celebrities tokens?

More than 51800 traders lost while they invested on this token among the 70200 people that invested on the token. Among the people that lost money, 3 traders lost over $1 million.

The token first increase 1400% before falling 80% according to the news. I am not tracking the token and I will not. So maybe it has fallen more.

https://startupnews.fyi/2025/08/28/51000-traders-lost-74m-while-11-netted-1m/

[acroman08]

Sadly, there will always be people blindly following celebrities.

I wonder if the poeple who invested in this meme coin will sue someone, I mean, if I remember correctly, someone got sued when the Hawktua meme coin got the same pump and dump scheme.

[albon]

This is a very large number of traders who were driven by their greed to this shitcoin... They shouldn’t feel sorry for themselves, because they gambled with their money and didn’t invest wisely, and didn’t do their research so this outcome was expected.

The celebrity, his team, and the hidden hands behind it are the ones who will profit from other people’s pockets, after which the coin becomes worthless..

I can’t imagine how those three traders feel after losing such a huge amount of money on this newly created coin that popped up overnight.. These are naïve people who don’t understand the risks they expose themselves to when they invest greedily in such coins.

[Coyster]

I have a feeling that people in the crypto industry do not learn from past events or some of them just love to gamble with their money. This is obviously a shitcoin that has no value or use case, and people believe in it because it was launched by a celebrity. I cannot understand why people take such risks, buying celebrity-backed memecoins.

TBH, i don't feel sorry for most of them, because they knew very well what they were getting into. They could have invested in bitcoin, but their greed would not let them patiently hodl it, they want a get-rich-quick coin, and this is the result for those who hodl such coins longer than they should.

[Shishir99]

I also believe a token like Trump is a scam as well. Mostly, these celebrities don't understand anything about these tokens. All they know is the dev team will send them some money if that celebrity allow the devs to use their name and that's it. This is too easy. You can even convince most hollywood stars saying we will create a token and we want you to be brand ambassador of that token.

We will name the token after you and you will get a million dollar for becoming the brand ambassador of the token and that's it. The marketing team use the celebrities social media account to post the updates and people jump to buy these tokens. This is scam guys!

[promise444c5]

It’s already dump since lastweek, saw a couple of post on X regarding it  and a lot of investors lamenting under the comment section..
Tbh, at this point , mind keep telling a lot of investors knows what they are doing.. I.e make quick money and use others as exit liquidity.. just that someone has a bigger plan for them .I only feel sorry for the innocent ones but still, they all about making quick money.

[dimonstration]

Why are people still falling for these celebrities tokens?

There’s lots of people that even purchase literally shit token that doesn’t have real utility, just a website with hype comments and that’s all.

They consider it degen trading or simply a gambling trading which they are willing to risk money in exchange for potential huge return once they manage to get out at the right time.

They knew the risk on entering that kind of trade and will keep doing that.

[Zwei]

if someone got scammed by this token, not gonna lie, they kinda deserve it and i can't really feel sorry for them.

i mean, you would think with all the warnings people been posting, and all the past celebrities pump and dumps scams (trump, melania, libra, savethekids, etc...), people will wake up.
but no no, they keep thinking the next one gonna be different, but it's all rigged by insiders and snipers who will make the money, and "investors" will be left holding the bag.

I wonder if the poeple who invested in this meme coin will sue someone, I mean, if I remember correctly, someone got sued when the Hawktua meme coin got the same pump and dump scheme.

even if they sue, 99% sure nothing gonna come out of it. after all, crypto crime is now legal in the US under trump.

[robelneo]

Why are people still falling for these celebrities tokens?

More than 51800 traders lost while they invested on this token among the 70200 people that invested on the token. Among the people that lost money, 3 traders lost over $1 million.

People never learn; they fail to understand that popularity does not necessarily translate to profitability in the cryptocurrency market. This celebrity-based token is very similar to memes; it has no clear use case and only thrives on hype. There is no technology behind these coins in general.
We used to have a PAC token that Manny Pacquiao promoted, but it is no longer available in the market. People should be aware of the risks associated with these celebrity-based tokens.

[Shishir99]

People never learn; they fail to understand that popularity does not necessarily translate to profitability in the cryptocurrency market. This celebrity-based token is very similar to memes; it has no clear use case and only thrives on hype. There is no technology behind these coins in general.
We used to have a PAC token that Manny Pacquiao promoted, but it is no longer available in the market. People should be aware of the risks associated with these celebrity-based tokens.

As I mentioned in my previous post, celebrities themselves aren't aware of these scams either. Sometimes, the celebrity gets scammed by the dev team as well. In my country, a company hired a cricket player and signed a contract to be a brand ambassador. The cricketer did some promotions for the company and the company promised to do some social work on his area.

Later, the company scammed thousands of peoples. Then customer started to complain that they trusted that because of the cricketer. So people started to blaming the cricketer while the cricketer didn't even get any benefit from the company. He was a member of perliament and he asked the company to do some social work in his area in return.

[aioc]

Why are people still falling for these celebrities tokens?

More than 51800 traders lost while they invested on this token among the 70200 people that invested on the token. Among the people that lost money, 3 traders lost over $1 million.

Kanye West's shit token will be a bad example, whenever there is a celebrity token coming out in the future, people will shy away because of what happened to his YZY shit token. This token shut the door for any celebrity-based token in the future. There were celebrity tokens in the past, but this was one of the worst.
People should learn that not all that glitters is gold; popular names don’t apply in cryptocurrency if it has no use case.

[Charles-Tim]

This token shut the door for any celebrity-based token in the future. There were celebrity tokens in the past, but this was one of the worst.

That means you have not been following the celebrities tokens closely. Most of them are the worst. Good examples are Trump and his wife, Melania tokens.

Melania went up above $45 on Mexc,  but its price right now is $0.2
Trump Official went up as high as $78 on Mexc but now at $8.3.

Other ones that I have seen in the past are also scam.

[albon]

As I mentioned in my previous post, celebrities themselves aren't aware of these scams either. Sometimes, the celebrity gets scammed by the dev team as well. In my country, a company hired a cricket player and signed a contract to be a brand ambassador. The cricketer did some promotions for the company and the company promised to do some social work on his area.

Later, the company scammed thousands of peoples. Then customer started to complain that they trusted that because of the cricketer. So people started to blaming the cricketer while the cricketer didn't even get any benefit from the company. He was a member of perliament and he asked the company to do some social work in his area in return.

Not all of them are unaware of these scams; some actually receive marketing money to promote such tokens on their accounts, while others create these tokens themselves to profit from their followers' pockets. There are countless examples, and the most notable one is Trump’s token, which he created to support his election campaign.

From what you mentioned, I also see that the player is at fault because he did not verify the company he signed with, which led his followers to fall victim to fraud due to his promotion of this fraudulent company. If he cared about his followers, he would not have neglected to check such low-level companies that managed to achieve their goals through him. Likewise, those followers should not have been an easy target for these scammers and should have verified the company, its goals, and its team before investing their money in it.

[tabas]

Why are people still falling for these celebrities tokens?

They never learn. As long as there's a celebrity name on it, they'd try their luck and think that they can exit too early before anyone does and the developers of it. They think that they can do better than them but they got themselves wrong. I guess if another token comes out in the name of another brand or celebrity, many investors are going to flock and be quick to buy any of them with the savings that they have. It's a cycle I guess and these cons know how to take advantage of it and will keep doing it when they see that there's still people that aren't aware of their scams.

[Shishir99]

From what you mentioned, I also see that the player is at fault because he did not verify the company he signed with, which led his followers to fall victim to fraud due to his promotion of this fraudulent company. If he cared about his followers, he would not have neglected to check such low-level companies that managed to achieve their goals through him. Likewise, those followers should not have been an easy target for these scammers and should have verified the company, its goals, and its team before investing their money in it.

There are a bunch of e-commerce websites available in my country. Some of them are legit, while others are taking orders, taking the advance, and disappearing after some time by scamming their customers. Also, these e-commerce website later turn their website into an MLM Ponzi scheme. RingID was one of them. They collaborated with international celebrities, and that was a social media platform. Later, they scammed all their users with some kind of investment plans. Even if the celebrities check those website carefully at first, the website later change their business model and scam peoples.

[coin-investor]

More than 51800 traders lost while they invested on this token among the 70200 people that invested on the token. Among the people that lost money, 3 traders lost over $1 million.

They have taken the risks, hoping to get the opportunity to make their investment 100 times their initial investment. Unfortunately, this kind of project is very unusual; you never know when the developers or whales dump their shares. If you do not know how to play this game, you will get burned.
Investing in this kind of token is akin to gambling, but the key difference is that you lose your investment while you are unaware or asleep.

The token first increase 1400% before falling 80% according to the news. I am not tracking the token and I will not. So maybe it has fallen more.

There's no use tracking this token; what happened to those celebrity token-based ones in the past will likely happen here; there's no difference.

[LogitechMouse]

Why are people still falling for these celebrities tokens?

More than 51800 traders lost while they invested on this token among the 70200 people that invested on the token. Among the people that lost money, 3 traders lost over $1 million.

The token first increase 1400% before falling 80% according to the news. I am not tracking the token and I will not. So maybe it has fallen more.

https://startupnews.fyi/2025/08/28/51000-traders-lost-74m-while-11-netted-1m/

It's the same concept as to "Why people are still investing into new meme coins?". Concept of profit.

They believe that if they invest into a token where there's a celebrity being involved on it, they will make money because the influence of that celebrity will make the project more popular hence, more investors will buy the project. Well, that's how newbies think. We that have been in the crypto space for quite some time know that this isn't always the case... or this isn't the case at all. I've seen projects in the past especially those projects in 2017-2018 where they paid a celebrity to promote their project only to end up as a failed or abandoned one. In the end, the only ones that made money are the celebrity/celebrities, and the developers.

I'm not tracking the token anymore, and I will never do. My only regret when it comes to this token is that, it has been listed on MEXC, I've seen it as well, but didn't short it or else, I could've made a huge profit on it.

[AHOYBRAUSE]

Thanks for sharing. Interesting this shole things ended THAT bad. I just saw the news like 2 days ago, don't remember if it was German ore international news, which said that the price went up crazy on the first day. I said to myself, here is another missed opportunity but guess in the end there wasn't any, hahaha. It's crazy it's ending the same way basically 99% of the time. These celebs putti g their name behind this trash for a quick payout, while being fking rich already, really is insane. This really should be investigated and punished more!!