Soulja Boy and Lil Yatchy Face Class Action Lawsuit For Alleged Cryptocurrency Scheme

Soulja Boy and Lil Yatchy are among the celebs facing a lawsuit for their involvement in an alleged cryptocurrency scheme.

Reportedly they along with other celebs and influencers were recruited to promote and sell tokens to cryptocurrency investors for a company called Safemoon.

The lawsuit claims that the company's motive in using them was a marketing tactic where eventually the celebs sell their holdings for a profit when the numbers are high commonly known as the pump and dump strategy. Misleading promotions and celebrity endorsements artificially increased interest and the trading volume throughout 2021.

The suit also includes rappers Jake Paul and Nick Carter as well as influencer/Youtuber Ben Phillips.

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