The co-founder of the Synthetic Intelligence (AI) crypto mission Zerebro has been accused of faking his dying and dumping on traders after latest studies declare the developer pulled the stunt as an “exit liquidity strategy.”
Crypto Developer Allegedly Dies On Livestream
This week, the crypto group was hit with the stunning information of the obvious dying of a developer resulting from psychological well being points. Stories on-line introduced the passing of Zerebro’s co-founder, Jeffy Yu, who had seemingly dedicated suicide throughout a Pump.enjoyable livestream on Might 4.
The video, which was later shared on X, confirmed the mission’s co-founder smoking a cigarette whereas taking his personal life with a gun. Seemingly confirming his dying, an obituary for Yu was revealed on the obituary platform Legacy, claiming he died on the age of twenty-two.
Yu's obituary on Legacy. supply: Lookonchain on X
On Sunday, Yu launched the idea of “Legacoins,” a time period derived from “legacy memecoin,” in a Mirror weblog put up. As he defined, these tokens don’t promise returns, as they don’t seem to be investments, however are an “interactive performance art” the place “the chart is the canvas / you are the art.”
After his alleged passing, Zerebro’s official X account and Yu’s X account have been deactivated. In a scheduled put up, he said, “If you’re reading this, it’s because my 72 hour deadman’s switch triggered so i’m not here, at least physically.”
The Might 6 announcement unveiled Yu’s “final art piece,” the Solana-based LLJEFFY legacoin. The developer expressed his discontent with cash, stating that the token was “my burning ritual / my hatred for money made manifest.”
DexScreener knowledge exhibits that LLJEFFY’s value skyrocketed over 1,000% after the information unfold. Nevertheless, the cryptocurrency’s value shortly plummeted by over 90%, leading to losses for a lot of traders.
LLJEFFY's value motion over the previous 24 hours. Supply: DexScreener
On-chain analytics agency Lookonchain reported that the information of Yu’s dying “caused the price of $LLJEFFY to soar and plummet in a short period, causing some traders who FOMO bought to suffer losses,” including that one dealer misplaced $93,000 in a single hour.
Nonetheless, crypto group members began to query whether or not the co-founder had faked his dying, as on-line studies instructed in any other case based mostly on suspicious on-chain exercise.
A ‘Calculated’ Exit Rip-off?
In line with Bubblemaps’ timeline, the LLJEFFY creator pockets and a number of other linked wallets started to commerce and burn the token after Yu’s alleged suicide rumor began on X, with one of many addresses promoting over $170,000 price on ZEREBRO by means of a number of transactions by Tuesday afternoon.
On Wednesday, Lookonchain shared {that a} pockets probably linked to Yu offered 35.55 million ZEREBRO for 8,572 SOL, price round $1.27 million, on Tuesday evening. The deal with then transferred 7,100 SOL, valued at $1.06 million, to the LLJEFFY developer pockets “G5sjgj.”
Crypto influencer Irene Zhao additionally affirmed to have spoken to somebody acquainted with the matter, who confirmed that Yu had faked his dying and was wonderful. In the meantime, an X consumer claimed the developer was alive, and the crypto business had “just witnessed its first pseudocide exit strategy.”
Per the put up, “He sent a detailed letter directly to an early investor who round tripped it all,” with no regret, “just a calculated exit.” The alleged letter states that Zerebro’s developer intentionally created a video simulating capturing himself, arguing that it was his “only viable exit” from fixed harassment, blackmail, and threats after being doxxed.
He defined that publicly stepping away would have tanked the worth of the ZEREBRO and OPAIUM tasks, another excuse for the stunt. The letter closes by stating that Yu is “physically and mentally sound,” and never looking for help.
Quickly after, the Legacy obituary was deleted, fueling the hypothesis that Yu’s passing was false. As Lookonchain famous, “The official Zerebro team has made no public statement, and it remains unconfirmed whether Jeffy Yu is actually dead or faked his death. Be cautious with the news and don’t FOMO trade.”
Solana (SOL) trades at $147.65 within the one-week chart. Supply: SOLUSDT on TradingView
Featured Picture from Unsplash.com, Chart from TradingView.com
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