{"id":4937,"date":"2023-05-21T17:36:12","date_gmt":"2023-05-21T21:36:12","guid":{"rendered":"http:\/\/leadingcryptonews.com\/influencer-served-settlement-demand-via-nft-following-7m-token-presale\/"},"modified":"2023-05-21T17:36:12","modified_gmt":"2023-05-21T21:36:12","slug":"influencer-served-settlement-demand-via-nft-following-7m-token-presale","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/influencer-served-settlement-demand-via-nft-following-7m-token-presale\/","title":{"rendered":"Influencer served settlement demand via NFT following $7M token presale"},"content":{"rendered":"<p> <br \/>\n<br \/><noscript><img decoding=\"async\" class=\"lazyload\" src=\"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=840\/https:\/\/s3.cointelegraph.com\/uploads\/2023-05\/1ae3e350-c770-4ae5-abc2-a01897478897.jpg\" \/><\/noscript><\/p>\n<div data-v-2f4c2c70=\"\">\n<p>A nonfungible token (NFT) influencer has been served with a settlement demand via an NFT \u2014 which casually dropped the \u201cF-bomb\u201d several times \u2014 alleging that the influencer engaged in wire fraud \u201cat a minimum\u201d on a recent $7 million token presale.<\/p>\n<p>On May 20, Mike Kanovitz, a partner at law firm Loevy & Loevy, stated in a tweet that a settlement demand letter had been served as an NFT to the wallet address associated with the influencer known as Ben.eth, whose real identity remains undisclosed.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">To @eth_ben and @psyopeth :My law firm, Loevy & Loevy, will be filing a class action against you in your IRL name if you do not refund all of the $PSYOP presale purchasers immediately. Our settlement demand letter has served as an NFT to your ben.eth address, viewable here:\u2026 pic.twitter.com\/qaxhECDUhb<\/p>\n<p>\u2014 Mike Kanovitz (@MikeKanovitz) May 19, 2023<\/p><\/blockquote>\n<p>He alleged that Ben.eth \u201cused a manipulative launch strategy\u201d for the Psyop (PSYOP) token, which raised $7 million in its initial presale over 72 hours. <\/p>\n<p>The concerns revolved around how the liquidity pools (LP) were structured and how the tokens \u201ctrickled out\u201d after the presale. <\/p>\n<p>Shortly after the letter was published on Twitter, Ben.eth tweeted that 50% of the tokens had been sent out and \u201cthe rest will be sent in short order.\u201d<\/p>\n<p>\u201cAt a minimum, you would be guilty of wire fraud, which is a predicate act for racketeering and the basis for a treble damages award against you ($7 million becomes $21 million),\u201d the letter stated.<\/p>\n<p>Kanovitz noted that a \u201crefund is the stand-up thing to do.\u201d However, he warned of potential legal action if refunds weren\u2019t provided:<\/p>\n<blockquote><p>\u201cSo, just send back the ETH. The matter will be over, and you and your victims can all go on with their lives. But if you insist on fucking over thousands of people, my law firm will step up to right that injustice.\u201d<\/p><\/blockquote>\n<p>Furthermore, he warned of a potentially \u201cpainful\u201d process for Ben.eth if the letter is not complied with.<\/p>\n<p>\u201cThe suit will name you personally as well as your alias and will be served at your home,\u201d the letter stated.<\/p>\n<p>Kanovitz further threatened to subpoena the influencer\u2019s communications, saying \u201cthat evidence will put the final nails in your coffin.\u201d<\/p>\n<p>He added that he would reveal the real-life identities of the influencers\u2019 co-conspirators.<\/p>\n<p>Kanovitz concluded the letter by stating, \u201cYou are engaging in real fraud, and it is hurting real people. There will be consequences if you don\u2019t make it right.\u201d<\/p>\n<p><strong>Related: <\/strong><strong>NFT court orders could become a norm in crypto-related litigation: Lawyers<\/strong><\/p>\n<p>In response to the letter, Ben.eth retweeted it several hours later on May 20, stating that it is \u201cso unprofessional it could get them in trouble with the bar association.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">This letter is so unprofessional it could get them in trouble with the bar association. $PSYOP galore out here. https:\/\/t.co\/VlWuK8YHLx<\/p>\n<p>\u2014 ben.eth (@eth_ben) May 19, 2023<\/p><\/blockquote>\n<p>Cointelegraph reached out to Ben.eth for comment but did not receive a response by publication.<\/p>\n<p><strong>Magazine: <\/strong><strong>Memecoin sends BTC fees to the moon, miner profits top $50B and more: Hodler\u2019s Digest, April 30\u2013May 6<\/strong><\/p>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/influencer-served-settlement-demand-nft-7-m-presale\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A nonfungible token (NFT) influencer has been served with a settlement demand via an NFT \u2014 which casually dropped the \u201cF-bomb\u201d several times \u2014 alleging that the influencer engaged in wire fraud \u201cat a minimum\u201d on a recent $7 million token presale. On May 20, Mike Kanovitz, a partner at law firm Loevy &#038; Loevy, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40],"tags":[],"class_list":["post-4937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nft"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Influencer served settlement demand via NFT following $7M token presale - Leading Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadingcryptonews.com\/influencer-served-settlement-demand-via-nft-following-7m-token-presale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Influencer served settlement demand via NFT following $7M token presale\" \/>\n<meta property=\"og:description\" content=\"A nonfungible token (NFT) influencer has been served with a settlement demand via an NFT \u2014 which casually dropped the \u201cF-bomb\u201d several times \u2014 alleging that the influencer engaged in wire fraud \u201cat a minimum\u201d on a recent $7 million token presale. 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