The growing adoption of cryptocurrencies has provided new ways to make money online. However, while this is recommendable, the industry has also attracted bad actors whose primary goal is to scam innocent investors. Over the last few years, more than $5 billion worth of crypto assets have been lost to scammers. Such unfortunate incident has prompted the rise of investigators who expose and call out bad actors in the industry.
Among them is popular YouTuber Coffeezilla. This article focuses on him. We will discuss what he does and the inspiration behind his job. Continue reading to learn more about Coffeezilla.
Who is Coffeezilla?
Coffezzilla’s official name is Stephen Findeisen. He is a 39-year-old YouTuber based in the United States. As of September 2023, his YouTube channel has garnered over 3.1 million subscribers, having created it in 2018. Coffeezilla revealed his face in 2020.
Coffezilla’s Job
The content on Coffeezilla’s YouTube channel is mostly about investigations of crypto scams. He exposes crypto players and influencers promoting fake projects to the public. Coffeezilla’s analysis of various crypto projects has been helpful to his viewers as it enables them to avoid falling victim to scammers.
What’s the Motivation Behind Coffeezilla’s Interest in Investigating Cryptocurrency Scams?
In a 2022 interview with well-known podcaster Lex Freidman, Coffeezilla said he got interested in investigation scams during his college days after his friends fell victim to a Ponzi scheme. Since then, the YouTuber swore to hunt down fraudsters and call them out for their evil actions. Coffeezilla added that he decided to focus on crypto since it was the most affected.
Challenges That Coffeezilla Faces
Several legal actions have been taken against Coffeezilla by some of the people he has called out. Moreover, investors of the alleged scam projects who are still in denial have launched online attacks on the YouTuber. A notable attack occurred in 2021 when an unknown person told the public they had evidence proving Coffeezilla was a domestic abuser and cocaine user. This incident forced the American YouTuber to release a video addressing the issue, in which he denied the allegations.
Why is Coffeezilla’s Job Important?
As mentioned earlier, the crypto industry has attracted bad and good actors. To ensure that the bad ones do not thrive, Coffeezilla exposes their scam projects, thus preventing investors from losing their money.
Moreover, the YouTuber teaches crypto users how to differentiate a legitimate project from a hoax.
How Does Coffeezilla Generate Income?
A significant percentage of Coffeezilla’s income comes from YouTube’s ad revenue. Does he accept sponsors? No! Coffeezillla says he doesn’t like sponsorships.
The YouTuber also makes money from charging a $5 fee to people who want access to his exclusive content. Additionally, Coffezilla sells branded merchandise once in a while.
What are Some of the Scams Coffezilla Has Uncovered?
CryptoZoo
This project was launched in late 2021, but its developers failed to keep their promise of continuing to build it. Online influencer Logal Paul promoted CryptoZoo as a play-to-earn (P2E) game with the promise of distributing massive rewards to the players. Anyone interested in playing CryptoZoo was required to hold the project’s NFTs worth $400 apiece at the time.
Soon after the NFT collection sold out, the project developers stopped providing updates regarding the project, prompting Coffeezilla to launch an investigation. The YouTuber later reported that Logan Paul and CryptoZoo developers had pocked investors’ funds and abandoned the project.
Paul denied the allegations and threatened to sue Coffeezilla. However, in June 2022, he apologized to investors in CryptoZoo and promised to refund them using his own cash, but he hasn’t kept his promise to date.
SafeMoon
The buzz around Safemoon when it launched in 2021 was huge. The following year, in April, Coffeezilla decided to assess the project’s legitimacy. That month, he made a video explaining his findings. He reported that he had found out the Safemoon team forked a code of a token that rug-pulled its investors in 2020. The YouTuber was convinced Safemoon would also rug-pull.
A few months later, the developers behind the token were charged with executing a pump-and-dump scheme.
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