Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

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By&nbspClark

It was claimed that the setup of the Liquidity Pools and the “trickling out” of the tokens constituted a “manipulative launch strategy.”

A settlement demand was sent to a nonfungible token (NFT) influencer through NFT, which multiple times dropped the “F bomb” in a casual manner, suggesting that the influencer had participated in wire fraud on a recent $7 million token presale, at the very least.

On May 20, attorney Mike Kanovitz, a partner at Loevy & Loevy, tweeted that a “settlement demand letter has served as an NFT” to the wallet address linked to the purported influencer known as “Ben.eth,” whose real identity is still unknown.

Ben.eth allegedly “used a manipulative launch strategy” for the token $PSYOP, which garnered $7 million in its initial pre-sale over a 72-hour period, according to his allegations. The issues centered on the design of the Liquidity Pools (LP) and how the tokens “trickled out” during the presale.

Ben.eth tweeted shortly after the accusation that 50% of the tokens had already been sent and that “the rest will be sent in short order.”

The letter said, “At 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)”.

In the letter, Kanovitz said that issuing a refund “is the stand-up thing to do.” However, he sent a legal notice in case refunds weren’t given:

“So, simply send the ETH back. You, your victims, and the situation will be resolved, allowing everyone to move on with their lives. My law company will take action to make that injustice right if you insist on fucking over thousands of individuals.

Furthermore, if the letter is not complied with, he warned that Ben.eth might face a “painful” process that would follow a court file.

He explained, “The suit will be served at your residence and will name you personally as well as your alias.

In addition, Kanovitz threatened to issue a subpoena for the communications of the accused influencers, claiming that “that evidence will put the final nails in your coffin.”

He continued by saying that he would disclose the identity of the influencers’ accomplices in real life (IRL).

“You are engaging in real fraud, and it is hurting real people,” Kanovitz said in the letter’s conclusion. If you don’t make it right, there will be repercussions.

On May 20, hours after receiving the letter, Ben.eth replied that it was “so unprofessional it could get them in trouble with the bar association.”

Ben.eth was contacted by Cointelegraph for comment, but no response was received at the time this article was published.

Clark

Head of the technology.



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