ZachXBT, a popular blockchain investigator, accused Floyd Mayweather of being connected to several token scams.
Mayweather has a history of involvement in token scams, from lawsuits to court settlements. Zackxbt called out the former boxing world champion on X for his involvement in a new fraudulent token activity.
“Some things never change with scamming your fans,” Zackxbt said.
Mayweather introduced a new token called FLOYD and initially promoted it on his social media platforms. However, he later removed his promotional tweet after several people had already purchased it. This sudden deletion of content sparked worries that he was up to dubious activity again.
Zackxbt stressed that Mayweather had previously made “tens of millions” in various cryptocurrency ventures, including Mayweverse, Ethereum Max, Bored Bunny, Real Floyd NFT and Moonshot.
Does Floyd deserves a 13th chance? After profiting tens of millions from Mayweverse, Ethereum Max, Bored Bunny, Real Floyd NFT, Moonshot, 2018 ICOs, & more. https://t.co/JaNLdhsPqR pic.twitter.com/DDCBUoFBrj
— ZachXBT (@zachxbt) June 2, 2024
In 2022, the SEC charged Mayweather with failing to disclose payments for promoting three ICOs, including a $100,000 payment from Centra Tech. They alleged that he used his Twitter platform to encourage his followers to participate in Centra’s ICO, stating that it was starting soon and that they should buy tokens before they sold out.
In 2018, Mayweather had to pay fines of over $600,000 for unlawfully touting coin offerings.
Mayweather scams in the past
Investors have suffered significant financial losses due to Mayweather’s promotion of fraudulent projects. These projects, including Centra Tech ICO, EthereumMax (EMAX) coin, Bored Bunny NFTs, Floyd’s World and FLOYD token, were all identified as rug pulls.
When creators of these coins suddenly withdrew liquidity and disappeared, investors were left with worthless tokens. Mayweather’s involvement with these projects has had detrimental consequences for numerous individuals.