FaZe Clan Members Tied to Crypto Pump-and-Dump Scheme Involving Children's Charity
Three members have been suspended and one has been removed from the group.
A handful of FaZe Clan members have now been tied to a cryptocurrency pump-and-dump scheme involving a child-oriented charity and initiative.
According to new reports, four members of the Esports group participated in a crypto project named Save the Kids, which promised to donate one percent of each transaction fee of its KIDS token to various foundations supporting the welfare of children. The charity’s creators managed to get several influencers from FaZe Clan to help promote the program prior to its launch in June, but the price of the altcoin subsequently crashed by 90 percent. Those involved have denied any ill intent, and that it was simply a vetting mistake when the idea was pitched to the group.
FaZe Clan has since released a statement on Twitter saying that it had “absolutely no involvement with our members’ activity in the cryptocurrency space, and we strongly condemn their behaviour. The trust and respect of our fans has been, and will always be, our number one priority.” The tweet also included the announcement that three members have been suspended, including Jarvis, Nikan and Teeqo, and Kay has been outright removed from the group altogether.
A statement from FaZe Clan. pic.twitter.com/HnPXpAoSYX
— FaZe Clan (@FaZeClan) July 1, 2021
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