Internet has a memory, especially for past “evils” committed. A project cannot simply succeed by relying on endorsements from celebrities, and celebrities cannot irresponsibly endorse projects solely for financial gain. Reputation is crucial, as celebrities who value their image will earn lasting respect, while those who deceive their fans will be tarnished. This rule applies to both celebrities and cryptocurrency projects.
Since 2017, some celebrities have been involved in pump and dump schemes and fraudulent coin launches. Here are the top 7 celebrity rug events in history:
1. Davido (renowned American singer)
In 2021, he endorsed RapDoge and sold $300,000 worth of tokens to his fans.
Davido did the same with six other project tokens, including one he recently launched.
2. Adin (well-known gaming streamer)
In the crypto bull market of 2021, influential individuals revealed their true colors. Adin earned $186 by promoting a token during a live stream.
However, he later admitted it was a scam…
3. Lindsay Lohan (American actress and singer)
As early as 2021, she promoted several tokens, including DaughterDoge and MetaNetflix. All of them turned out to be rugs.
She also endorsed Canine Cartel NFT, which eventually went to zero.
4. Floyd Mayweather (famous former professional boxer)
2017: Centra ICO
2021: EMAX token
2022: Boring Bunny NFT, Floyd Mayweather NFT, Floyd’s World, Boring Bad Bunny (all went to zero)
Interesting anecdote: SEC sued him in 2018, and he paid a $614 fine, but continued promoting projects.
5. Shaquille O’Neal (former NBA star)
If you’re an OG in the field, you’ve probably heard of Astrals on SOL. O’Neal co-founded the Solana NFT series “Astrals.”
However, he abandoned the project when FTX collapsed. Users were furious, and he was sued in September 2023.
6. Lil Uzi Vert (real name Symere Bysil Woods, American rapper)
During the Solana Summer of 2021, Lil Uzi Vert decided to endorse the Eternal Beings series.
He quickly deleted the post, and the project ultimately faced difficulties.
7. Rich the Kid (real name Dimitri Leslie Roger, American rapper)
He co-founded an NF series named after himself and endorsed it. They raised approximately $2 million in total and then disappeared.
