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HomeCrypto NewsMarketRipple CTO Calls BEN Coin a Scam, Bitboy Denies Allegations

Ripple CTO Calls BEN Coin a Scam, Bitboy Denies Allegations


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Ripple CTO Calls Bitboy’s BEN Coin Project A Rug Pull, Bitboy Denies Accusation.

Crypto influencer Ben Armstrong faces accusations of a rug pull after joining the BEN Coin project team, leading to a rift in the crypto community.

Ben Armstrong, a well-known crypto influencer otherwise called Bitboy Crypto, has found himself in the middle of a controversy within the crypto community following his recent announcement about joining the team behind BEN Coin, a recently launched meme token. He confirmed today that he would be completely taking over BEN coin.


Many crypto community members are questioning the project’s legitimacy and are expressing concerns about Armstrong’s involvement. David Schwartz, the chief technology officer (CTO) of the Ripple blockchain, said he agrees without a doubt that the project was a rug pull.

Schwartz expressed this sentiment in a tweet to a crypto enthusiast who quoted Armstrong’s announcement and wrote: “This is 100% a rug pull,” to which the Ripple CTO asked:

“Do you mean that the rug will be pulled in the future? Or do you mean that Bitboy joining the team is itself a rug pull? Because one of those things I definitely agree with.”

Notably, rug pull is a scam in crypto and DeFi markets where the project founder removes all the project’s liquidity and disappears with investors’ funds, causing the token’s price to plummet and investors to lose their money. 

Bitboy Reacts

Expectedly the allegation of rug pull did not sit well with the crypto influencer. On Twitter today, Armstrong spoke out against accusations, stating that such beliefs are unfounded and stem from ignorance and hatred.

He explained that he has been involved in the crypto space for more than 99% of the community and that his public company employs over 40 people. Armstrong also emphasized that he has produced more than two daily videos for the past five years, indicating his dedication to educating and informing the crypto community.

In the tweet, Armstrong also urged others to “stop believing memes,” which he suggests can create a negative impression of the crypto space, stating, “It’s a bad look.”


As mentioned above, in another thread, Armstrong announced he is now taking over the BEN coin project after reaching an agreement with a person with a Twitter username @eth_ben, where all of the assets and liquidity for the BEN coin would be transferred to him within a week.

DOGE Founder Trashes Bitboy

Additionally, Dogecoin co-founder Billy Markus expressed disappointment with Ben Armstrong’s announcement that he had joined the BEN coin project team, saying, “This is pretty lame” in a tweet.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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