Boogie2988 Faddy Crypto Scam

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Overview

Boogie2988 Faddy Crypto Scam refers to the fallout that came from the alleged "rug pull" of the Faddy token and meme coin that YouTuber and creator Boogie2988 had been promoting among his fans in late June 2024. The rapid decline of the coin's value, combined with an interview with Coffeezilla in which the coin was called a "pump-and-dump scheme," led to many in the Boogie2988 and crypto community to call the entire thing a scam as it sparked controversy online.

Background

On June 26th, 2024, Boogie2988 uploaded a YouTube video^[1] titled "FADDY" in which he declared that he was creating a new meme coin and cryptocurrency, called Faddy, and that it would be the meme coin to create a community of people who are going to have a better life. As a play on Andrew Tate, Boogie said that the true freedom of the world is to be a wage slave and demanded that his fan base buys Faddy to be true men (short clip shown, archive link to full video below).

Later that day, on June 26th, YouTuber and content creator Coffeezilla uploaded on his alt channel Voidzilla^[2] about him confronting Boogie2988 on the pump-and-dump allegations after the coin had a significant drop in value after $3 million worth of trading had occurred on it, in which it was reported to be a scam (shown below). The video received over 623,000 views and 25,000 likes in four days.

Online Reactions

In the days following the alleged pump-and-dump scam, Boogie2988 made many different public statements on Twitter / X about the crypto, including giving his justification for it, which is that he had a specific type of cancer that gave him expensive medical bills, as well as saying that he honestly does not believe that people in his community were targeted or bought in, only rich crypto bros. Further posts made by Boogie, all of which were deleted days later, indicated a lack of consistency regarding his ownership of some Faddy coins, as well as a video he uploaded^[3] showing him talking to his fans about it (shown below).

7. Here is the full video he deleted. pic.twitter.com/ejTXvoqEV6

— Optimus ⛩️ (@SubToOptimus) June 30, 2024

On June 30th, 2024, Twitch streamer and content creator Asmongold uploaded a video to his YouTube^[4] channel in which he went through an entire thread on Boogie2988's deleted Twitter posts, and gave context for some of the posts while helping to spread word and expose the inconsistencies in Boogie's story and discuss the situation, earning over 300,000 views in two hours (shown below).