Scam Alert! James Wynn Warns of Fake Memecoins Launched in His Name

Crypto figure James Wynn has warned the public about memecoins falsely associated with his name, labeling them suspicious and advising people to stay away. In a recent post on X, Wynn blamed a group he described as “the cabal” for launching several tokens with manipulated prices and sudden rug pulls.

He pointed to one token that had seen more than $4.3 million in trades yet had a market capitalization of only $495,000. Wynn claimed this mismatch signaled clear manipulation. He emphasized that he only supports two meme coins, $MOONPIG and $PEPE, which he insists are not associated with the alleged schemes.

Allegations Surface Over Wynn’s Past Memecoin Promotions

Wynn’s warning, however, quickly drew skepticism from the crypto community. Blockchain investigator ZachXBT questioned his credibility, suggesting that Wynn may have engaged in similar deceptive schemes in the past. To support this, ZachXBT pointed to a mid-2024 thread by crypto analyst Dylan, which outlined Wynn’s alleged involvement in promoting a meme coin called BabyPepe.

According to Dylan, the crypto figure contacted the BabyPepe team on June 29, 2024, requesting 2% of the token supply, valued at around $57,000, in exchange for promotional support. Interestingly, Wynn allegedly asked the team not to send the tokens to his publicly known ENS wallet, which Dylan interpreted as a deliberate effort to obscure the transaction.

Dylan’s thread further claimed that Wynn received the tokens on July 1 and immediately began promoting BabyPepe in his Telegram group. Within hours, he reportedly sold off his allocation in increments of about $6,000, ultimately cashing out approximately $68,000. Shortly afterward, Wynn allegedly cut off communication with the team and distanced himself from the project.

Community Reacts

Wynn’s past conduct has sparked a broader debate within the community. For instance, a user named ExTravert asked if Wynn’s involvement in other projects could also be suspect. In response, ZachXBT summarized the sentiment bluntly, saying, “TLDR is gambling with stolen money.”

Another commenter, Smash, had earlier raised concerns about Sibel, who had previously claimed that many influencers grow their portfolios through shady tactics. While the blockchain investigator agreed with Smash’s point, he also suggested that Sibel herself might be involved in similar exploitation.

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