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<p class="is-style-lead">Amidst false reports of rapper Lil Tay’s death, the crypto realm sees the baffling rise of two “LilTay” tokens, sparking intrigue and speculation.</p> 
<p>The sudden appearance of two crypto tokens named “LilTay” has intrigued and confused the crypto community.&nbsp;</p> 
<p>With one on the <a href="https://crypto.news/bnb-chain-ecosystem-roundup-best-performing-dapps-red-alerts-and-more/" rel="noopener noreferrer nofollow">BNB</a> Chain and another on the Ethereum (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) platform, the situation is rife with speculation and cautionary tales.&nbsp;</p> 
<p>The stage was set with a false death report of 14-year-old rapper Lil Tay, whose real name is Tay Tien. A now-deleted Instagram post claimed her death.</p> 
<p>However, it was later clarified that a third-party compromised her account.</p> 
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   <p lang="en" dir="ltr">I don’t know how true this is but this was posted from a different account the brother made claiming that the parents don’t want them in the public eye anymore and took away social media accounts <a href="https://t.co/GAvYhn7Ab6" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/GAvYhn7Ab6</a></p>— £ (@toxiccox01) <a href="https://twitter.com/toxiccox01/status/1689477943347621888?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 10, 2023</a> 
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<h2 class="wp-block-heading" id="lil-tay-tokens-create-a-mess">Lil Tay tokens create a mess</h2> 
<p>The BNB Chain <a href="https://bscscan.com/token/0xd80b7645667612e3df307e977aa5af3fd1adb72b" target="_blank" rel="noopener noreferrer nofollow">version</a> of the Lil Tay token, with a limited supply of just over 100 tokens, has yet to be traded. The team behind this token remains unknown, leading to various speculations.</p> 
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   <p lang="en" dir="ltr">Lil Tay Crypto Token 'LilTay' Emerges on BNB Chain Amidst False Reports on Rapper's Death. False reports about the death of internet-famous 14-year-old rapper&nbsp;Lil Tay&nbsp;have triggered the emergence of an unofficial crypto token named "LilTay" on the&nbsp;BNB Chain. <a href="https://t.co/0GQw2ocPtz" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/0GQw2ocPtz</a></p>— Super Coin (@supercoin_2077) <a href="https://twitter.com/supercoin_2077/status/1691002655773220864?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 14, 2023</a> 
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<p>Some believe that crypto enthusiasts may have sought to capitalize on the media hype surrounding the alleged death, while others see it as a tribute to the young influencer.&nbsp;</p> 
<p>The truth remains shrouded in mystery, and the limited supply adds to the intrigue. The lack of trading and the silence from the creators have only fueled the speculation further.</p> 
<p>Harry Tsang, Lil Tay’s ex-manager, has been developing an Ethereum-based “Lil Tay Token” for months. He has clarified that this token is unrelated to the BNB Chain version.</p> 
<p>Tsang’s involvement in the Ethereum token adds a layer of legitimacy to the project. He has been sharing development updates long before the fake death scandal, emphasizing the project’s ongoing development.</p> 
<p>Tsang has warned fans against potential scams involving Lil Tay. He clarified that no official launch had taken place on BNB Chain.&nbsp;</p> 
<p>The Liltay Token’s Twitter account has also cautioned followers.</p> 
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   <p lang="en" dir="ltr">Sharing this to let everybody know that we will not be launching anything soon. We’ve been in development for 4-5 months now. <br><br>If anybody is reaching out to you for money saying they’re involved with <a href="https://twitter.com/search?q=%24liltay&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$liltay</a> it’s not true. <br><br>If you see another token/coin with liltay it’s a scam.</p>— Liltay Token (@LiltayToken) <a href="https://twitter.com/LiltayToken/status/1689697027033030656?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 10, 2023</a> 
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<h2 class="wp-block-heading" id="celebrity-inspired-tokens-a-trend-with-risks">Celebrity-inspired tokens: a trend with risks</h2> 
<p>Creating tokens or meme coins inspired by celebrities or real-world events is not new. After PayPal’s announcement of PYUSD <a href="https://crypto.news/stablecoins-why-they-may-be-better-than-altcoins/" rel="noopener noreferrer nofollow">Stablecoin</a>, fake PYUSD tokens flooded the Ethereum <a href="https://crypto.news/learn/what-is-a-blockchain/" rel="noopener noreferrer nofollow">blockchain</a>.&nbsp;</p> 
<p>Similarly, the BALD meme coin, believed to be linked to FTX founder Sam Bankman-Fried, delivered massive losses to investors.</p> 
<p>Meme coins like Dogecoin have gained immense popularity, offering exponential returns for early investors. But with success comes imitation; not all imitations are created with good intentions. The Lil Tay tokens serve as a reminder of the need for caution and due diligence.</p> 
<p> You might also like: <a href="https://crypto.news/twitter-user-unveils-possible-mastermind-behind-bald-rug-pull/" rel="noopener noreferrer nofollow"> Twitter user unveils possible mastermind behind BALD rug pull </a> </p> 
<h2 class="wp-block-heading" id="lil-tay-token-s-future">Lil Tay token’s future</h2> 
<p>The Lil Tay crypto controversy is a complex tale that reflects the broader challenges and opportunities in the crypto world.&nbsp;</p> 
<p>Whether driven by opportunism, tribute, or a well-planned project, these tokens highlight the importance of due diligence and caution.</p> 
<p>In a world where hype can quickly turn into heartache, the Lil Tay tokens are a stark reminder that not everything that glitters in the crypto world is gold.&nbsp;</p> 
<p>As Tsang wisely put it, the situation calls for “cautious consideration” and a discerning eye that looks beyond the surface.&nbsp;</p> 
<p> Read more: <a href="https://crypto.news/2050-cbdcs-ai-and-the-uncharted-path-ahead-opinion/" rel="noopener noreferrer nofollow"> 2050: CBDCs, AI, and the uncharted path ahead | Opinion </a> </p>

Rapper Lil Tay’s fake death gives rise to mystery crypto tokens

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