NotLarvaLabs founder takes $1.1m in exchange for ‘nothing’

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Users sent more than $1.1 million in Ethereum and other crypto assets to the NotLarvaLabs founder’s wallet under the alias Pauly in exchange for ‘nothing’.

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There is nothing for sale. I cannot reiterate this enough.

People simply choose to send tokens to:

YouGetNothing.eth

Or they choose not to. pic.twitter.com/bR2KxwpQjH

— PAULY (@Pauly0x) May 31, 2023

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“There is nothing for sale. I cannot reiterate this enough. People simply choose to send tokens to yougetnothing.eth,” he said.

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The strange initiative appeared on May 30. Since then, enthusiasts have continued sending assets to the address yougetnothing.eth. Pauly personally stated that users would receive nothing in return.

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According to Arkham Intelligence, more than 1,000 transfers have been sent to the wallet. The largest transaction was by user Maverick_time — 10.05 ETH (~$19,150).

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A visualization of the wallet shows over 1000 transfers, with the largest known wallet coming in at $13K from «Maverick_time» on OpenSea. pic.twitter.com/zHKjZO4rmu

— Arkham (@ArkhamIntel) May 31, 2023

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A day later, Pauly reiterated that he has no intention of selling anything or creating another coin. He said that ‘people simply decide’ to send funds to his address.

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I’m not sure if you have realized this or not.

But the entire crypto industry is an absolute joke.

It’s a mockery.

If there is anything you learn from following this account, I hope it’s that you should never take any of these literal ASSCLOWNS seriously.

— PAULY (@Pauly0x) May 31, 2023

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“I’m not sure if you have realized this or not. The entire crypto industry is an absolute joke. It’s a mockery. If there is anything you learn from following this account, I hope it’s that you should never take any of these literal ASSCLOWNS seriously,”

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Probably, it was a kind of performance lampooning meme tokens and the people who beg for money to create them.

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Recently a Twitter user under the handle ben.eth, in collaboration with crypto blogger Ben Armstrong from the BitBoy Crypto channel, initiated a fundraising drive to create three coins.

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The founders of the ‘project’ say that the assets will be useful in the meme-cryptocurrency space. They promised ‘investors’ distinctive dividends once the required sum is raised.

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$BEN $LOYAL $PSYOP Announcements

1. $LOYAL is the token of a new DEX/Memecoin Launchpad named PsyDex
2. As a Uniswap competitor, it will bring back the spirit of Deventralization to the DEX game
3. $PSYOP holders will benefit — that’s @eth_ben’s to explain
4. $BEN details ⬇️

— Ben Armstrong (@Bitboy_Crypto) May 30, 2023

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According to on-chain researcher ZachXBT, 112 people collectively sent him 21.3 ETH (~$39,500) from centralized exchanges, so they will not receive any coins in return for technical reasons. He also noted that ben.eth retweeted posts with phishing.

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For the latest ben.eth presale 112 people have now sent 21.3 ETH ($39.5k) in total from their exchange accounts.

Not sure how these on-chain clowns expect to receive their tokens.

— ZachXBT (@zachxbt) May 28, 2023

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Earlier in May, users began sending numerous meme tokens to the wallet of the Tron founder Justin Sun. This happened after he stated that he intended to ‘actively trade’ such coins.