Sometimes things just don’t go as planned. Recently Lana Rhoades learned that lesson the hard way. She teamed up with a crypto guru of sorts, who helped her launch a new project called Crypto Sis.
Crypto Sis is a collection of 6,069 unique NFT’s based on Lana Rhoades. There are countless possibilities of what token you might get! Each Tokenized Lana is algorithmically generated with special accessories which will all contribute to the creation of each unique piece.
The image above, for example, was part of her NFT collection. It was listed for 0.02 ETH, which is basically worth about $52.11.
Doesn’t sound like much but overall the project was reported to have made $1.5 million. Then according to sources, she cashed out, taking the $1.5 million in Ethereum, and closed down the project.
Although this is speculation. It’s not known if Lana herself withdrew the money, or it was the developers. Many have reached out to her to find out, and all she will say is that she wasn’t interested in continuing with the project because the NFT community was too toxic and hateful. She didn’t want to be around that kind of negativity.
In fact, things have gotten so heated she’s even deactivated her Twitter account over all the hate and backlash she is getting over this.
This was just after she went off on a YouTuber who has been covering the Crypto Sis story.
Many, including this YouTuber, are calling Lana Rhoades out for running what is known as a pump and dump crypto scam.
Pump-and-dump schemes are a form of fraud. The originators of the scheme plan to take money from innocent investors by encouraging them to buy an asset based on false information. When those investors buy in, the pumper is selling, which effectively pushes the price lower.
A pump and dump is a scam. Scammers create false hype about a NFT, a cryptocurrency, or even a stock in order to generate interest. Then when the price goes high enough, they dump all of theirs and take off with the money.
Is this what Lana Rhoades did? Or is it something the developers behind the project are involved in? Right now, it’s hard to say.
Recently Soulja Boy, Jake Paul, and Lil Yachty were named in a class-action lawsuit over the SafeMoon Crypto pump and dump scheme.
Will Lana Rhoades face similar lawsuits? No doubt. However, it remains to be seen just how involved in the project Lana Rhoades really was and if she had any responsibility in the cash grab.