YouTube personality Olajide Olayinka Williams Olatunji, commonly known as "KSI," has found himself embroiled in pump-and-dump allegations from cryptocurrency investigators ZachXBT and Coffeezilla after reactivating his old cryptocurrency-focused X account.
On February 14, KSI revived his previous X account, where he had previously discussed cryptocurrency investments. He shared a post on the cryptocurrency account, which boasts approximately 371,000 followers.
Shortly after KSI's post, cryptocurrency investigator ZachXBT criticized the move, suggesting that KSI would resume promoting questionable projects. ZachXBT then highlighted a screenshot from KSI's post regarding his investment in XCAD Network (XCAD), followed by evidence of KSI selling $850,000 worth of XCAD tokens. This pattern was further exemplified by KSI's previous endorsements of tokens followed by substantial sales, such as Ethereum Chain (ERN) in 2021.
YouTuber Stephen "Coffeezilla" Findeisen weighed in with a follow-up video, sharing KSI's statement on the matter. KSI affirmed that he still holds some XCAD tokens and maintains faith in the project's potential profitability. He explained that he sold XCAD to invest in Terra Luna Classic (LUNC), formerly known as LUNA.
KSI clarified that he had no malicious intentions and attributed his actions to his novice status in the cryptocurrency space and his excitement about the industry. However, Coffeezilla criticized KSI's behavior, labeling it as a textbook case of pump and dump, where public statements contradict private actions aimed at inflating asset prices for personal gain.
KSI's association with fellow YouTuber Logan Paul, who has faced his own cryptocurrency controversies, adds another layer to the situation. Paul was previously involved in a class-action lawsuit related to the sale of non-fungible tokens (NFTs) under the CryptoZoo brand, promising an unreleased game. Amidst these controversies, Paul pledged to refund investors who dropped legal claims against him.
