What is Lil Tay Crypto Coin? Everything you Need to Know about the Scam

What kind of a flap is this, considering that Lil Tay’s death was just recently reported and her crypto coin has just been released?

A cryptocurrency coin named after Lil Tay, real name Claire Hope, a 15-year-old influencer, entered into circulation less than a day after her death was reported on her verified Instagram account. Her management said that the Lil Tay crypto currency was fraudulent.

On Thursday morning, 100 of the Lil Tay cryptocurrency began trading on the BNB Smart Chain. The coin’s rightful owner has not yet come forward.

In an interview with Insider, Tay’s ex-manager Harry Tsang said that since April, he’s been working on a digital coin dedicated to the late rapper. Nonetheless, he denied participation in the actual one that was launched. On Thursday, he took down the Lil Tay token website he had launched earlier this year.

There’s no way that’s me. I have already issued a warning to everyone. And we are not like that at all. Everything, even the website, was suddenly taken down,” he stated. This remark definitively disproves the legitimacy of the Lil Tay cryptocurrency.

Sharing this to let everybody know that we will not be launching anything soon. We’ve been in development for 4-5 months now.

If anybody is reaching out to you for money saying they’re involved with $liltay it’s not true.

If you see another token/coin with liltay it’s a scam.

— Liltay Token (@LiltayToken) August 10, 2023

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There is no genuine Lil Tay crypto coin

Former Lil Tay manager Harry Tsang has admitted to being involved in the planning stages of a crypto currency based on the artist. Since April, he’s been working on the token, he admitted.

However, after hearing of Lil Tay’s supposed death, Tsang publicly denied any involvement with the coin. He publicly disassociated himself from the newly produced money and promptly removed a webpage he had made earlier in the year in regards to the Lil Tay crypto coin.

Tsang warned Twitter followers to be wary of the Lil Tay crypto coin because of a possible scam involving the coin shortly after its debut. You need to keep your eyes peeled and only trust official announcement channels, as this is a common hoax.

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Who is Lil Tay?

Lil Tay, then just nine years old, shot to fame with a series of obscene and provocative short films. She became known as “the world’s youngest flexer” after posting photos of herself with flashy cars and stacks of cash. She collaborated with divisive YouTube stars like Jake Paul and Danielle Bregoli, generating nonstop media coverage.

When Lil Tay and her brother made their social media debut in 2021, they made allegations of physical and emotional abuse by their father. They want to give their mother full custody of the kids and have created a GoFundMe to raise money for legal bills. Christopher Hope has told Instagram to stop responding to the allegations against it.

Both the Vancouver Police Department and the Los Angeles County Medical Examiner’s Office, where Lil Tay was born and raised, and where she currently resides, have no record of any inquiry regarding the death of a Claire Hope.

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A “hacking incident” caused Lil Tay’s death, it seems

Lil Tay has recently released a statement confirming that she is still alive despite the hacking of her social media accounts. After an Instagram post, the entire world was convinced she had died, but Lil Tay is alive and well. That Lil

To be clear, my brother and I are well; yet, I am at a loss for words and am struggling to convey how sorry I am. The past 24 hours have been extremely traumatic. In a statement provided to TMZ by her family, Tay claims, “I was bombarded with endless heartbreaking and tearful phone calls from loved ones all day yesterday, all while trying to sort out this mess.”

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How much time is required to produce a cryptocurrency coin?

A new cryptocurrency can take anywhere from one to six months to develop from scratch, depending on the complexity of the blockchain and coin. Developers of new cryptocurrencies also have to factor in the time needed for things like audits and launching an initial coin offering (ICO). The development of the Lil Tay cryptocurrency has taken about four to five months.

The difficulty of creating a cryptocurrency coin or token affects its value. Coins with the most specialized features and those built on native blockchains are the most expensive. Launching standard tokens on Ethereum might not require any upfront costs.

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Social media crypto scams can wipe out entire retirement funds

Scams involving cryptocurrencies can be as hard to see in the huge social media universe as a chameleon in the jungle. It’s not uncommon for these cons to appear real at first glance, what with flashy websites, well designed promotional materials, and likeable leaders promising sky-high returns on investment. The superficial allure, however, masks a web of dishonesty.

“Pump and dump” is an example of a common con. Scammers play a complicated game of smoke and mirrors in which they exploit excitement and misleading information to artificially inflate the value of a given cryptocurrency.

They dump their shares as soon as the price reaches a predetermined peak, leaving naïve investors with assets that are rapidly depreciating. It’s a new spin on an old confidence trick that could end up financially devastating.

The internet may seem like a dangerous jungle full of fake news, but you may use a few key indications to find your way. Be wary, first and foremost, of claims that promise you unimaginably high returns.

Remember that you should expect some level of risk with each investment you make, and that any company that says otherwise is usually not to be trusted. Be aware of projects as well whose personnel, tech stack, or long-term goals are not transparent.

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