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Game 5 Ball, an Ethereum-based project recently launched by Former NBA player Scottie Pippen, faces crypto participants’ backlash amid suspicious withdrawal activity. Selling pressure for the Ball token intensified as users from social media platforms (mainly X) linked the Ball team’s involvement to the previous crypto rug pull activity. 
Also Read: <a href="https://coingape.com/bitcoin-crypto-cheques-to-clear-35t-us-debt-donald-trump-says/">Bitcoin &amp; Crypto Cheques To Clear $35T US Debt, Donald Trump Says</a> 
<h2 id="span-style-font-weight-400-game-5-ball-token-faces-critical-backlash-span">Game 5 Ball Token Faces Critical Backlash</h2> 
Basketball icon Scottie Pippen recently unveiled his Game 5 Ball <a href="https://coingape.com/rwa-tokens/">Real World Assets</a> (RWA) project, a crypto initiative to immortalize a legendary piece of sports history on the blockchain. This project celebrates the ball that sparked the Bulls’ dynasty, emphasizing community-driven preservation and engagement with this iconic artifact. 
However, the crypto participants had mixed reactions to this announcement, expressed through social media platform X. While some supported the initiative with suggestions for a successful launch, many showcased their caution, with Ball token being another rug pull, a term used for crypto scams. 
This suspicion grew as the market witnessed a transaction involving the developer’s wallet withdrawing 103 ETH, valued at approximately $330,000, from the project. The price of the ball token took a notable hit, falling from a high of $0.0038 to $0.0014, registering a 56% loss since yesterday. 
<blockquote class="twitter-tweet"> 
 Nah what the fuck 
 bro dumped $330K straight from the dev wallet in 1 TX 
 Didn’t even bother hiding the rug lmao <a rel="nofollow" href="https://t.co/nEbFg7B3Vw">https://t.co/nEbFg7B3Vw</a> <a rel="nofollow" href="https://t.co/bEuCZimlw1">pic.twitter.com/bEuCZimlw1</a> 
 — Wazz (@WazzCrypto) <a rel="nofollow" href="https://twitter.com/WazzCrypto/status/1819147767056339360?ref_src=twsrc%5Etfw">August 1, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Also Read: <a href="https://coingape.com/bitcoin-buy-the-dip-interest-wanes-amid-50k-calls-btc-etf-outflows-surge/">Bitcoin Buy The Dip Interest Fades Amid $50K Calls, BTC ETF Outflows Surge</a> 
Moreover, Crypto sleuth ZachXBT highlighted that the BALL token’s deployer address had suspicious ties to an abandoned NFT project called “Lil’ Hippo” and someone called “Mr. Moe.”. 
Furthermore, Zach pointed out that the former NBA player had previously launched an NFT project that was a rug pull. 
<blockquote class="twitter-tweet"> 
 Deployer address for BALL seems tied to the abandoned project <a rel="nofollow" href="https://twitter.com/LilHippoNFT?ref_src=twsrc%5Etfw">@LilHippoNFT</a> and whoever <a rel="nofollow" href="https://twitter.com/ItsMrMoe?ref_src=twsrc%5Etfw">@ItsMrMoe</a> is <a rel="nofollow" href="https://t.co/bq8Jwh7ivK">pic.twitter.com/bq8Jwh7ivK</a> 
 — ZachXBT (@zachxbt) <a rel="nofollow" href="https://twitter.com/zachxbt/status/1819152823378235402?ref_src=twsrc%5Etfw">August 1, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
In response to the blockchain detective’s comments, Mr. Moe commented that the Game 5 Ball project experienced a “hiccup on the launch” but that the team was addressing these issues and combating numerous scammers. He also emphasized that Game 5 Ball wasn’t a “celebrity” endeavor but an <a href="https://coingape.com/education/what-is-rwa-tokenization/">RWA</a> project focused on sports, developed in collaboration with Pippen. 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/k/KEu59DXg.png" alt="Ball Token" width="1876" height="825">
 <figcaption class="wp-caption-text">
 BALL/USD 1D chart
 </figcaption>
</figure> 
In the hourly chart, the Ball <a href="https://coingape.com/glossary/altcoins/">altcoin</a> showcases a sideways trend with a strong overhead supply at $0.002. 
The post <a href="https://coingape.com/markets/scottie-pippens-ball-token-in-hot-water-over-330k-withdrawal/">Scottie Pippen’s Ball Token in Hot Water Over $330K Withdrawal</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Scottie Pippen’s Ball Token in Hot Water Over $330K Withdrawal

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