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A crypto scam that saw the removal of one FaZe Clan member and the suspension of three others may not be be as open and shut as previously believed. The initial backlash when the scam came to light was that Kay, Teeqo, Jarvis and Nikan were all involved in a "pump and dump" scheme to get people to invest in a token and withdraw their funds once the value went up. An investigation by Coffeezilla and Keemstar may have exonorated Teeqo, however, as they claim the former FaZe Clan member did not pump and dump any funds since the promotion and has suffered huge personal losses.
Also read: The FaZe crypto catastrophe: An influencer "scam" that spiraled out of control
New evidence uncovered by Keemstar and Coffeezilla, allegedly proves Teeqo's innocence in FaZe SaveTheKids crypto scam
Taking to Twitter, both Coffeezilla and Keemstar claimed that suspended FaZe Clan member Teeqo was innocent and may have been caught in the crossfire after the scam went public. Showing the transaction history of Teeqo's crypto wallet, Coffeezilla concludes that Teeqo personally invested over $30,000 into the token and didn't sell any of it even after the scam went public.
Keemstar and Coffeezilla both affirmed that since Teeqo never sold his tokens, it meant that he was unaware of the pump and dump strategy his peers were about to apply.
While not all details have been shared as of now, Mutahar and Coffeezilla who have carried out their investigation, will be releasing a video soon, covering all bases.
Meanwhile, fired FaZe Clan member, Kay, has released a statement which garnered no sympathy from Coffeezilla or other members of the community.
"So this is the truth, alright? I lost money on SaveTheKids tokens, but what upsets me the most is that others were hurt. We've uncovered significant evidence which confirms that a dishonest person abused his trust with me to scam everybody. This person gained my trust and the trust of my friends while still encouraging us to be the public faces of these schemes. He then abused that trust to go and alter the code right before launch, resulting in six-figure profits for him and leaving the rest of us to blame."
-Frazier "Kay" Khattri
While the FaZe Clan has distanced itself from the parties involved in the scam, the situation is still unfolding and all the evidence hasn't come to the fore as of now. It also remains to be seen whether or not Teeqo will be brought back to the FaZe Clan at some point.
Also read: "Don't wanna stream until I can make good streams again": xQc quits streaming temporarily
