SNEAK PEEK
- Ball Token linked to Lil Hippie NFT, sparking $330K rug pull allegations.
- NBA legend Scottie Pippen’s involvement further diminishes Ball Token’s credibility.
- Investors skeptical despite Ball Token team’s reassurances and scam-related issue fixes.
Recent investigations into the cryptocurrency and NFT space have raised significant concerns regarding the Ball Token (BALL) project. Allegations of a rug pull scheme have surfaced, linking the deployer address of BALL to the defunct Lil Hippie NFT project and its creator, Mr. Moe. The accusations come as a $330,000 withdrawal from the community fund has alarmed investors.
ZachXBT an on-chain analyst also noted concern relating to the deployer address of BALL and the publicly defunct Lil Hippie NFT project which stopped operating in June 2023. Lil Hippie project connected with Mr. Moe previously mentioned had offered extra utilities in the form of BALL tokens distribution. However, activities or lack of from the NFT team have not been reported since mid-2023 leaving the entire project and its motives questionable at best.
Deployer address for BALL seems tied to the abandoned project @LilHippoNFT and whoever @ItsMrMoe is pic.twitter.com/bq8Jwh7ivK
— ZachXBT (@zachxbt) August 1, 2024
ZachXBT mentioned that a transaction of $330,000 occurred, which is also a sign of rug pull where developers take investors’ money and run. It has raised questions in the crypto community because its large withdrawal makes it more prone to attacks.
The community has not taken well the sudden and unhidden transaction as can be evidenced by the following screening. The rub is fuelled further by NBA legend Scottie Pippen who had earlier regarding to other rug pulls.
Moreover, engagement of Pippen with the BALL project has made the project more questionable especially his enterprise called Pip engaged in the project. Pip’s problems have risen over the years, and even as people have said it is a long-term community-centered project, the issues have overshadowed such statements.
In response to the backlash, the BALL project team has acknowledged initial problems and claimed to be addressing scam-related issues.
They claimed that more liquidity has been found in the main wallet and have reaffirmed their dedication to the community. Nevertheless, there is a great deal of criticism even from idealistic investors who don’t believe the project is quite as reliable as it claims.
