Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
YouTube Investigator ‘Coffeezilla’ Accuses Rabbit AI of Involvement in an NFT Scam

YouTube Investigator ‘Coffeezilla’ Accuses Rabbit AI of Involvement in an NFT Scam

Cryptonews2024/05/22 10:29
By:Ruholamin Haqshanas
YouTube Investigator ‘Coffeezilla’ Accuses Rabbit AI of Involvement in an NFT Scam image 0

Stephen Findeisen, popularly known as “Coffeezilla” on YouTube, has accused artificial intelligence company Rabbit AI of orchestrating a nonfungible token (NFT) scam and attempting to cover it up.

Findeisen, a prominent investigator on the video-sharing platform, recently released a video  on the Coffeezilla channel, shedding light on Rabbit AI’s alleged involvement in the NFT space.

According to Findeisen’s findings, Rabbit AI was previously known as Cyber Manufacture Co. and managed to raise $6 million for an NFT project named Gama.

However, the company’s founder and CEO, Jesse Lyu, later distanced Rabbit AI from the world of cryptocurrencies, stating that they would “never touch crypto” in Discord statements.

Fun Little Project


Lyu claimed that Gama was merely a “fun little project” he participated in during the COVID-19 pandemic and that he left the project once the associated game was open-sourced.

Contradicting Lyu’s claims, Findeisen presented recordings in which Lyu discussed ambitious plans for the Gama project.

In those recordings, Lyu expressed intentions of investing millions into Gama to create a groundbreaking NFT experience.

He also mentioned future plans for a concept called Gamaverse and the potential for a clean energy initiative in relation to Gama Coin.

Findeisen raised concerns about the $6 million funding raised for the Gama project, questioning where the money had been allocated.

Despite Rabbit AI’s assertion that the funds were solely used for the NFT project, Coffeezilla argued that Rabbit AI’s foundation was built on the remnants of the Gama project, making it a matter of concern.

Additionally, Findeisen criticized the overhyped nature of Rabbit AI’s viral R1 product, drawing parallels between the exaggerated promises made by both Gama and R1.

Coffeezilla’s allegations are not isolated, as others have also expressed skepticism about Rabbit AI’s offerings.

Josh Olin, the founder and CEO of WeGPT, previously labeled Rabbit’s project as a “scam,” characterizing it as a quick cash grab designed to lure in investors.

Logan Paul-Coffeezilla Cryptozoo Controversy


Online detective Coffeezilla has made himself a reputation by uncovering crypto scams.

Specifically, he made headlines last year for going after popular YouTuber and influencer Logan Paul to expose his “scam” project CryptoZoo.

CryptoZoo was launched in September 2021 with much fanfare, with Paul himself being one of the founders of the project.

The game utilized its own cryptocurrency called ZooCoin, with buyers able to purchase “eggs” that would hatch into randomized animals with different rarities.

These animals could then be bred to create cross-bred creatures that would act as NFTs. The NFTs could be held or burned to earn more ZooCoin, purportedly providing buyers with significant returns on their investments.

However, in a three-part series of videos uploaded at the end of 2021, Coffeezilla alleged that CryptoZoo had been largely abandoned shortly after its launch.

He claimed that Paul distanced himself from the project, despite the extensive pre-release attention he had given it.

In response to Coffeezilla’s allegations, Paul released a video blaming the co-founders and advisors of CryptoZoo for any wrongdoing and sensationalizing the story. He even threatened to sue Coffeezilla

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Will there be a Solana ETF by the end of 2025?

Cboe BZX filed four applications for spot Solana ETFs earlier this week.The approval path for additional spot crypto ETFs should become clearer with a pro-crypto White House administration.

The Block2024/11/23 18:22

Changes at the SEC start well ahead of Inauguration Day

One federal judge’s rulings this week found that the SEC had overstepped its authority and must vacate the Dealer Rule

Blockworks2024/11/23 18:22