- The world of cryptocurrencies is currently infested with scams and scammers.
- Stephen Findeisen, also known as Coffeezilla, is a YouTuber trying to make a difference by investigating crypto crimes.
- The investigative YouTuber was able to expose truths about various pump and dump schemes, including SafeMoon.
For anyone in the crypto space, newbie or veteran, Bitcoin holder or Altcoin fan, millionaire or poor, there is one thing they all have in common: an encounter with a scammer. Whether it’s the “do you want to double your investment?” text on Telegram or the more complex pump and dumps: there is no escape.
Now, scams are not new. From the Eiffel tower selling out Victor Lustig to the infamous Charles Ponzi, swindlers and swindlers have been an integral part of our collective memory.
But today’s snake oil sellers have transcended the confines of snagging unlucky pensioners and moved into the digital space. And due to its unregulated nature, the world of cryptocurrencies seems to be the perfect petri dish for those looking to get into the pockets of unsuspecting victims.
But where there are villains, there are also heroes.
Today, uncovering scams is a field of study unto itself: most of its scholars exude wisdom in the welcoming and abundant space of YouTube. Much of this space is currently occupied by unemployed white women warning their fellow housewives about the pitfalls of multi-level marketing schemes (too many of which curiously revolve around essential oils).
And in the midst of this vast group of YouTube crusaders is Stephen Findeisen, aka Coffeezilla. With over 1 million followers, Findeisen is the one-man force behind taking down high-profile frauds like the SafeMoon project.
SafeMoon is allegedly a fraudulent crypto project masquerading as a safe investment vehicle. It quickly gained popularity and was even endorsed by YouTube sensation Jake Paul. Kudos to those who thought anything related to Jake Paul could be legit.
When SafeMoon collapsed a few months after its glorious launch (with a market capitalization of four billion dollars), Findeisen took it upon himself to discover the reason behind this collapse. The investigative YouTuber went to great lengths to unmask the scammer behind SafeMoon and uncovered an unusual suspect, an influencer who served as SafeMoon’s chief marketing officer, Ben Philips.
It’s quite disappointing that instead of a deep-voiced, hooded villain in a dimly lit room, the mastermind behind the bomb and dumpster turned out to be a YouTuber who specialized in prank videos, some of them as incredibly silly as ” I superglued my brother’s beer glasses”.
However, despite the large number of cryptocurrency scams, Findeisen is not anti-cryptocurrency. He is a Bitcoin holder himself. “I think about how we can shape [crypto] into something better, more like the future than the people who make it say they want. That way, we are on the same side,” says the crypto crusader.
With the overwhelming influx of fraudulent coins and scammers looking for any and all opportunities to make a quick buck, the need for such investigators cannot be overstated. So, to summarize, the world of cryptocurrencies needs more Findeisens.