Former SafeMoon Marketing Chief Exposed for a $12 Million Crypto Scheme

With cryptocurrencies gaining mainstream adoption, influencers have been creating their own tokens and pitching them to their audiences. However, a significant portion of these projects turns out to be nothing more than overhyped scams.

Coffeezilla, who has been regarded as the "internet detective", has investigated Ben Phillips and exposed him for maliciously raking in approximately $12 million in crypto from pitching SafeMoon to his fans.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

How Do KYC & AML Work in Crypto? (Explained)

SUBSCRIBE

ON YOUTUBE

According to him, Phillips pulled the usual "influencer" scam where people use their following to inflate the price and demand of a certain product or service through various social media channels. He has been doing this since 2021.

Coffeezilla’s investigation was possible, because Phillips posted his cryptocurrency wallet on social media once, where all of his transactions were open to the public. It turns out that right after dumping millions worth of SafeMoon coins, Phillips would post on social media and blame it on some "anonymous crypto whales."

The truth was that Phillips himself was the whale dumping the coin price, with Coffeezilla discovering that the ex-SafeMoon Marketing Chief sold $16M worth of SafeMoon, raking in a net profit worth $12M. 

This wasn’t the first time that the internet detective uncovered an influencer-backed crypto scam. Back in February, Youtuber Ice Poseidon was exposed for rug pulling his investors for $750K and openly admitting it.

Aaron S., Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

Full Bio

All Expert Contributors & Analysts