FaZe Banks Accused of $200M Crypto Scam
1. Did FaZe Banks Scam $200 Million In Crypto? Shocking Truth Behind MLG Coin And Adin Ross
FaZe Banks, former CEO of FaZe Clan, is at the center of a massive crypto scandal involving MLG Coin and an alleged $200 million rug pull. Popular streamer Adin Ross is also implicated. Here's a breakdown of everything you need to know.
2. FaZe Banks Accused Of $200 Million Crypto Scam – What Happened?
- FaZe Banks (Ricky Bengtson) is accused of launching and promoting a meme coin called MLG Coin, only to abandon the project after raising millions.
DramaAlert'x : X
- Investors claim the project was a rug pull, where value is hyped up, then insiders sell off, leaving holders with worthless tokens.
- In response to the backlash, Banks stepped down as FaZe CEO and stated:
“I’ve never scammed anyone in my life. I did nothing wrong.”
Banks announced his resignation as CEO : Bagboy'x
Banks asserts he defrauded no one : X
3. What Is Adin Ross’s Role In The Scandal?
- Adin Ross appears in leaked private messages linked to the MLG Coin controversy. Although not officially charged, many speculate he may have knowingly participated.
- Ross previously promoted MILF Token, another crypto project that quickly crashed after a giveaway. This history raises concerns about repeated behavior.
FaZe Banks message leaks :Clipz'X
Adin Ross Responds: X
4. FaZe Clan’s History With Crypto Controversies
- Back in 2021, several FaZe members promoted a failed project called Save the Kids Token, which was accused of being a pump-and-dump scheme.
- FaZe Banks denied involvement at the time, but the incident left a lasting stain on the group’s reputation.
- More recently, popular streamer xQc accused Banks of running a pattern of shady crypto promotions, including MLG Coin and others.
5. Quick Recap Table
| Person | Involvement | Current Status |
|---|---|---|
| FaZe Banks | Accused of rug pulling MLG Coin ($200M) | Denies wrongdoing, resigned as CEO |
| Adin Ross | Implicated via leaks, past crypto deals | Silent, under scrutiny |
| FaZe Clan | Tied to multiple crypto scams since 2021 | Reputational damage |
6. Why You Should Be Cautious With Influencer Crypto Promotions
- Not every coin backed by an influencer is legitimate.
- Many creators use hype to exploit trust and pump prices.
- Always do your own research (DYOR) before investing in meme coins or NFT projects.
7. Final Verdict: Scam Or Victim?
Though Banks and Ross deny any wrongdoing, the leaked chats and public reaction suggest there’s more beneath the surface.
If you’ve invested in MLG Coin, this is the time to re-evaluate and stay updated on legal or financial developments.