Rapper Soulja Boy has apologized for promoting dozens of cryptocurrency and non-fungible token projects that were reported as fraudulent by blockchain researcher ZachXBT in 2023.
The “Crank It” artist’s social media activity from 2021 to 2023 includes several posts promoting crypto tokens and NFT collections to his millions of followers. ZachXBT claims that many of these promotions involved projects that either collapsed, were abandoned, or were completely fraudulent within days of his message.
Soulja Boy, whose real name is DeAndre Cortez Way, addressed the allegations in a statement posted to X early Monday morning. He said he was not aware of the project’s fraud at the time and acknowledged past errors in judgment.
“I want to be clear and transparent. I had no idea that a scammer named Sahil was involved or that he was paying me to promote something fraudulent. Back then, I was doing paid promotions without understanding the crypto/NFT space like I do now. This was many years ago and I have learned a lot since then,” the rapper-turned-cryptocurrency investor claimed.
I want to be transparent.
I had no idea that a scammer named Sahil was involved or that he was paying me to promote his scam. At the time, I was doing paid promotions without understanding the cryptocurrency/NFT space as much as I do now.This was many years ago and I… https://t.co/y4g2Qno6LS
— Soulja Boy (Draco) (@souljaboy) December 14, 2025
He went on to apologize to his followers, saying it was “truly sorry and was never his intention” to promote a rug-pulling project. “I take responsibility for not doing deeper due diligence at the time. I have acted completely differently since then. Growth is learning from mistakes,” Soulja Boy concluded.
ZachXBT lists 5 scam projects promoted by Soulja Boy
According to ZachXBT’s X thread from April 2023, Soulja Boy has promoted cryptocurrencies and NFT drops at least 73 times since March 2021. Investigators said 16 of the NFT collections the rapper praised later turned into scams or failed ventures, Cryptopolitan said. reported.
One of the examples cited was a token known as RAPDOGE, which Soulja Boy mentioned several times in mid-2021. “On July 19, 2021, Soulja Boy tweeted: ‘Pump up $RAPDOGE to $.000001 and get all your friends in on this, you lilyachty with me.’ In the hours that followed, the rug was pulled from the project after also receiving sills from Lil Yachty and Quavo,” investigators wrote.
RAPDOGE tokens subsequently disappeared and investors suffered losses as liquidity was withdrawn shortly after the promotion was promoted.
ZachXBT also spoke about Soulja Boy’s battle with the U.S. Securities and Exchange Commission (SEC). The SEC accused him and several other celebrities of illegally promoting tronix (TRX) and BitTorrent (BTT).
The SEC argued that the promotion failed to disclose that the rapper was paid for endorsing Token, along with actor Lindsay Lohan, WWE athlete and influencer Jake Paul, and artists Akon and Ne-Yo.
Two projects known as Orion and The Life Token were also part of Soulja Boy’s cake, which he allegedly used for charity.
“Orion and LifeToken, these two projects used cancer and suicide prevention charities as a way to drive up prices. Within a month of Orion’s Hill, it was hardened and Twitter was deleted. LifeToken was abandoned in early 2022,” ZachXBT speculated.
Soulja Boy promoted another project called Flokinomics, which fraudulently claimed to be related to Elon Musk and paid for media promotion to make it appear authentic, but its liquidity was ultimately taken away. ZachXBT estimates that the “Superman” rapper earned more than $730,000 from promoting cryptocurrencies and NFTs during the period covered.
Celebrity acquitted of 2-year Cryptozoo case
Several famous names were mentioned last year along with failed crypto projects, but perhaps the most talked about was Logan Paul’s Cryptozoo craze. The WWE superstar and online personality has concluded the chapter on the defunct NFT project’s legal dispute after a U.S. district judge upheld the dismissal of a class-action lawsuit that accused him of misleading investors.
The lawsuit, filed in 2023, alleges that Paul and his associates promoted an NFT-based game that promised profits through the breeding and trading of digital animals. The project never fully took off, leading to claims that investors had been defrauded and that the effort was a “rug rug pulled out.”