Crypto community questions $1M prize after serious on-chain fraud allegations surface against X contest winner.
Serious allegations have emerged against “Beaver,” winner of the $1M X contest, with claims of on-chain fraud and repeated rug pulls.
Beaver is accused of pumping the $SIAS token to a $6 million valuation before allegedly exiting with $600,000 in profit. Blockchain analytics firm Bubblemaps reportedly linked wallets associated with him to dozens of memecoins that later crashed to zero.
Responding to the accusations, Beaver allegedly said, “Cry me a river,” and claimed the incident was not even among his top five scams.
The controversy has triggered backlash across the crypto community. Critics argue that awarding a $1 million prize to someone facing serious fraud allegations could damage trust and credibility. Others say any action should depend on verified evidence and due process.
The debate now centers on accountability, transparency, and whether platforms should reassess winners when misconduct claims surface.
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