Crypto Influencer Receives a $7M Token Settlement Demand

Anonymous crypto influencer known as “ben.eth” has found themselves entangled in a legal dispute involving a $7 million pre-sale of the $PSYOP tokens.

In a tweet posted on May 20, a founding partner at the legal firm Loevy & Loevy, Mike Kanovitz, claimed that a settlement demand letter had been delivered as an NFT to the wallet address linked to Ben.eth, whose real name is still unknown.

According to Mike Kanovitz, the influencer used “a manipulative launch strategy” of the $PSYOP token. The latter raised approximately $7 million during its presale, which lasted over 72 hours. Kanovitz’s concerns include the structure of the project’s liquidity pools and the fact that the tokens were not sent out straight away.

In the letter, Loevy & Loevy invites Ben.eth to refund their “victims” with ETH. “The matter will be over, and you and your victims can all go on with their lives,” states Kanovitz’s letter. If the influencer does not oblige, Mike Kanovitz will reveal the real-life identities of ben.eth’s co-conspirators and proceed with filing suit in the United States District Court for the District of Arizona.

To @eth_ben and @psyopeth :
My law firm, Loevy & Loevy, will be filing a class action against you in your IRL name if you do not refund all of the $PSYOP presale purchasers immediately.
Our settlement demand letter has served as an NFT to your ben.eth address, viewable here:… pic.twitter.com/qaxhECDUhb

— Mike Kanovitz (@MikeKanovitz) May 19, 2023