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Matt Lorion, a 17-year-old influencer TikTok, known for promoting cryptocurrencies online, posted a new video apologizing for a Star Wars themed scam he promoted. Last week Lorion sang the praises of a new cryptocurrency called Mando which turned out to be a pump-and-dump scam. But Lorion says he had no idea it was a fraud.
“The other day I was promoting a cryptocurrency called Mando, which … the developers basically scammed everyone, including me,” Lorion said in the TikTok video.
“Some of you invested in Mando, and I too had $ 10,000 invested. It’s all gone now, ”Lorion continued.
The Mando cryptocurrency website was registered a week ago today on March 25 and featured many images from the hit Disney + show “The Mandalorian” – images all used without permission, of course.
The website is currently a shell of itself, stripped of instructions on how to “buy” this new cryptocurrency through a website called PancakeSwap.
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The Twitter account, which was also deleted, had an alternate method of “buying” Mando tokens, which was captured by users on 4Chan last week who wondered if this was a scam.
The MandoToken.com site wasn’t even online long enough to be indexed by Google or the Wayback Machine, but a cryptocurrency YouTuber captured footage of the website in a video from March 27. The images show the promotion of a ‘presale’ where people could buy-in this new memecoin.
Whoever was behind Mando posted a “white paperFilled with unverifiable claims about how the token had been tested. Lorion claims in the video that he lost $ 10,000 of his own money in the scam, but this could not be independently verified on Thursday.
“So to make sure something like this doesn’t happen again, my management team is going to get in touch with every developer before I promote a cryptocurrency,” Lorion said in his video. apologies.
“We’re going to do some background checks and we’re going to make sure that whatever we promote is 100% legitimate and long term. And I just want to clarify, from now on, whenever I promote a cryptocurrency, it is only me that shows the crypto, ”said Lorion. “You want to do your own research and make sure that you are investing money in something that you have believed for a long time.term.”
Lorion’s latest video is about a new cryptocurrency called Elongate, which he acknowledges people think is another scam. But Lorion swears this piece is legit and he even got involved to prove how scam it isn’t. The Elongate motto is based on a tweet from billionaire Elon Musk, who said if he was ever involved in a scandal, he would like it to be known as Elongate.
One of Lorion’s videos on Elongate has over 4 million views, which obviously got other people who invested in crypto excited after hearing about it on TikTok or Reddit. Lorion did not respond to a request for comment sent via Instagram.
It’s hard to tell the difference between a pump and dump system and pretty much everything else in the crypto world right now. because the whole world of cryptocurrencies depends on people’s trust in the system. When people get away with real money and let the others hold nothing –zero dollars and zero cents—Which erodes confidence in the future of other things like bitcoin and ether, although they are not explicitly short-term “scams” in the traditional sense.
“I can’t even say how shitty I feel right now and how sorry I am for what happened,” Lorion said. “Thanks guys for your understanding and something like this won’t happen again.”
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