Stephen Findeisen, also known as Coffeezilla on YouTube, has accused artificial intelligence company Rabbit AI of being involved in an NFT scam and attempting to cover it up. Findeisen released a video on his channel where he shed light on Rabbit AI’s alleged activities in the NFT space. Rabbit AI, previously known as Cyber Manufacture Co., raised $6 million for an NFT project named Gama. However, the CEO of Rabbit AI, Jesse Lyu, claimed they would not touch crypto and called Gama a “fun little project” he participated in during the COVID-19 pandemic. Contradictory recordings were presented by Findeisen where Lyu discussed ambitious plans for Gama, indicating potential misuse of funds raised for the project.
Rabbit AI recently went viral after raising $30 million in venture capital and selling $20 million in consumer products. The company was previously known as Cyber Manufacture Co., which raised $6 million for an NFT project named Gama. Despite Rabbit AI’s claims that the funds were only used for the NFT project, Findeisen raised concerns about the company’s foundation being built on the remnants of the Gama project. He also criticized Rabbit AI’s R1 product, drawing parallels between the exaggerated promises made by both Gama and R1. Other individuals, including Josh Olin, have expressed skepticism about Rabbit AI’s offerings, labeling the project as a “scam” designed to attract investors with false promises.
Coffeezilla’s allegations against Rabbit AI are not the first time he has exposed crypto scams. He previously targeted popular YouTuber Logan Paul and his project CryptoZoo for similar reasons. CryptoZoo, launched in September 2021, allowed users to purchase “eggs” with their own cryptocurrency, ZooCoin, which could be hatched into animals that acted as NFTs. Coffeezilla alleged that CryptoZoo had been largely abandoned after its launch, with Paul distancing himself from the project despite initial promotion. In response to the allegations, Paul blamed the co-founders and advisors for any wrongdoing and threatened to sue Coffeezilla.
The controversy surrounding Rabbit AI and Coffeezilla’s investigations into crypto scams highlight the risks associated with investing in innovative technologies like NFTs and cryptocurrencies. Investors should be cautious and conduct thorough research before committing funds to projects promising significant returns. The allegations against Rabbit AI and Logan Paul’s CryptoZoo project serve as a reminder of the importance of due diligence when participating in the fast-paced world of blockchain technology and digital assets. Coffeezilla’s role in exposing potential scams within the industry demonstrates the need for independent scrutiny and transparency to protect investors from fraudulent activities.
