Rich The Kid Faces Backlash Over Alleged Crypto Scam

Rich The Kid, known for his hit songs and flashy lifestyle, posted about a new cryptocurrency token, hyping it up as the next big thing.

Rich The Kid, the American rapper, has come under fire for allegedly promoting a scam crypto token. The incident has left many questioning the role of celebrities in the crypto space and highlighting the importance of DYOR (Do Your Own Research).

Rich The Kid, known for his hit songs and lavish lifestyle, had posted about a new cryptocurrency token, hyping it up as the next big thing. However, crypto sleuths quickly noticed red flags. The token had all the classic signs of a rugpull — a scam where developers pump up a coin’s value before pulling the plug and vanishing with investors’ money.

Within hours of his post, blockchain trackers reported that the token’s liquidity was drained, leaving buyers with worthless coins.

“Rich The Kid’s account may have been compromised. He posted about a fake Kanye coin! Stay vigilant and avoid any potential scams,” tweeted CryptoEmpressX, a blockchain influencer, on February 23, 2025.

Rich The Kid deleted his promotional post without any explanation, but screenshots of the post quickly circulated online. Many users called him out for promoting what looked like a clear scam. The backlash was swift, with some accusing him of knowingly misleading fans for a quick payday.

The incident sparked a wider discussion about the role of celebrities in promoting crypto projects and the responsibility that comes with it. Many fans and investors rely on the judgment and recommendations of the celebrities they follow, making it crucial for these personalities to thoroughly vet any crypto project before endorsing it.

As a reminder, the information provided by Altcoin Buzz is not intended to be used as financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.