Kanye West may have sold his X account to Barkmeta for $17 million. This news has raised alarms in the crypto community. Analysts are worried about potential fraud due to Barkmeta’s past. Barkmeta is known for trading meme coins and has faced accusations of scams.
In 2022, Barkmeta was involved in the POX token rug pull. The next year, he was linked to the DeFiApes NFT collection, which raised over $40 million but later collapsed, causing significant losses for investors.
On-chain analyst Blade noticed a change in Kanye’s account activity. The posts shifted to focus on crypto and promoted a new meme coin launch. Kanye’s account started following a Barkmeta team member, Tall, who some think is another Barkmeta account. Blade believes there is a 95% chance that Kanye’s account was sold and advises against investing in the new meme coin.
Suspicion grew when Barkmeta hosted a Twitter Space to promote the project as the biggest meme coin launch. His answers to difficult questions seemed evasive, increasing skepticism. Additionally, an account linked to Barkmeta promoted a token called “Yeezy Coin,” which turned out to be a scam after a rug pull occurred shortly after its launch.
Barkmeta responded to the rumors with sarcasm, sharing an image of two phones—one showing Kanye’s account and the other his own. This added to the speculation that he had access to Kanye’s account.
Kanye has denied any connection with Barkmeta, stating, “This is not real. I don’t know this person.” He promised that any future coin launch would be official and transparent. Recently, a user reported that an official YZY meme coin was created but warned against suspicious links leading to a site called BankofYZY, which lacks liquidity.
The crypto community is on high alert due to Barkmeta’s history and Kanye’s sudden change in online behavior, waiting for more information.
