Scottie Pippen recommits to $BALL project amid backlash

NBA Hall of Famer Scottie Pippen has thrown more weight behind the Ethereum project in an effort to boost trust after cryptocurrency watchers and experts highlighted shady activities related to the token.

Pippen’s controversial Ethereum-based BALL project launched on August 2 and received immediate backlash from the community. Users quickly added community notes to Pippen’s announcement post on X, warning investors to stay away from the supposed real-world asset venture.

Crypto detective ZachXBT highlighted that the BALL distribution address reflects a wallet used for at least two past scams; commonly known on web3 as rug pulls. ZachXBT also noted that Pippen launched a non-fungible token that failed in the NFT twilight of 2022 and is widely considered another rug pull.

Another crypto watcher provided data showing that Pippen and his developer wallet drained $330,000 worth of BALL tokens in a single transaction. In response, the six-time NBA champion claimed that 103 Ether (ETH) was liquidated to “mitigate attacks” amid intense scrutiny from the crypto community.

Pippen’s post didn’t do enough to allay suspicions, with social media users responding with data showing that BALL insiders control over 15% of BALL’s supply.

Failed projects and the controversy surrounding famous crypto projects haven’t stopped public figures from entering Web3. However, most of the launches have occurred on Solana (SOL). According to crypto.news , around 30 famous memecoins have been launched on Solana in the past month. Most of the projects have failed, affecting many users and increasing hostility towards popular individuals entering the space.