Ethereum

Solana

2024

ZachXBT

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<p class="is-style-lead">After crypto observers and experts pointed out shady activity with the token, NBA Hall of Famer Scottie Pippen doubled down on his Ethereum project to try to boost confidence.</p>
<p>Pippen’s contentious Ethereum-based BALL project <a href="https://x.com/ScottiePippen/status/1819140102620418189" target="_blank" rel="noopener noreferrer nofollow">launched</a> on Aug. 2, facing immediate backlash from the community. Users quickly added community notes to Pippen’s announcement post on X, warning investors to steer clear of the so-called real-world asset initiative.</p>
<p>Crypto sleuth ZachXBT highlighted that the BALL deployer address mirrored a wallet used for at least two past scams, commonly known in web3 as rug pulls. ZachXBT also noted that Pippen launched a non-fungible token during the NFT twilight in 2022, which failed and is widely regarded as another rug pull.</p>
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   <p lang="en" dir="ltr">Deployer address for BALL seems tied to the abandoned project <a href="https://twitter.com/LilHippoNFT?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@LilHippoNFT</a> and whoever <a href="https://twitter.com/ItsMrMoe?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@ItsMrMoe</a> is <a href="https://t.co/bq8Jwh7ivK" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/bq8Jwh7ivK</a></p>— ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1819152823378235402?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 1, 2024</a>
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<p>You might also like: <a href="https://crypto.news/comparative-analysis-of-long-term-and-short-term-memecoins/" rel="noopener noreferrer nofollow"> Comparative analysis of long-term and short-term memecoins </a></p>
<p>Another crypto observer provided data showing Pippen and the developer wallet dumping $330,000 worth of BALL tokens in a single transaction.&nbsp;In response, the six-time NBA champion claimed 103 Ether (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) in liquidity was withdrawn to “mitigate attacks” amid heavy scrutiny from the crypto community.</p>
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   <p lang="en" dir="ltr">Nah what the fuck<br><br>bro dumped $330K straight from the dev wallet in 1 TX<br><br>Didn't even bother hiding the rug lmao <a href="https://t.co/nEbFg7B3Vw" target="_blank" rel="noopener noreferrer nofollow">https://t.co/nEbFg7B3Vw</a> <a href="https://t.co/bEuCZimlw1" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/bEuCZimlw1</a></p>— Wazz (@WazzCrypto) <a href="https://twitter.com/WazzCrypto/status/1819147767056339360?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 1, 2024</a>
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<p>Pippen’s post failed to quell doubts, as social media users replied with data showing that BALL insiders controlled over 15% of BALL’s supply.&nbsp;</p>
<p>Unsuccessful projects and controversy surrounding celebrity crypto projects have not discouraged public figures from pouring into Web3. However, most launches have happened on Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noopener noreferrer nofollow">SOL</a>). As crypto.news reported, some 30 celebrity memecoins <a href="https://crypto.news/30-solana-celebrity-memecoins-launched-in-june-most-are-dead/" target="_blank" rel="noopener noreferrer nofollow">debuted</a> on Solana last month. Most of the projects flunked, leaving many affected users and growing animosity for popular individuals entering the space.</p>
<p>Read more: <a href="https://crypto.news/30-solana-celebrity-memecoins-launched-in-june-most-are-dead/" rel="noopener noreferrer nofollow"> 30 Solana celebrity memecoins launched in June; most are dead </a></p>

Scottie Pippen recommits to $BALL project amid backlash

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