Mark Wallace — a YouTuber that became famous thanks to his Dogecoin (CRYPTO: DOGE) content — is being accused of performing an exit scam after his AcceptCrypto (CRYPTO: ACEPT) token first skyrocketed 12,000% and then crashed to being worthless.
What Happened: Market data shows that AcceptCrypto collapsed from its Tuesday high of 0.000000008743 Ethereum(CRYPTO: ETH) down to its current price of just 0.000000000165 ETH — a fall of well over 98%.
Now the community is accusing him of performing an exit scam: a scam where the creators of a given digital asset sell all of their holdings of the token they created after raising capital and then stop working on the project.
Dogecoin creator Billy Markus referred to Wallace as a scammer in a Wednesday tweet, noting that he does not like calling people like him out since "calling out scammers leads to harassment and death threats. Always. Because evil is evil."
Wallace kept his online presence alive and faced the angry community on his project's official Telegram chat, so it is highly unlikely that he did — or plans to — perform an exit scam. Despite this, there are some aspects of the events that do not add up.
Also Read: Fraud Alert: This Doge-Named Crypto Is A Honeypot Scam
As Benzinga reported in late March, Wallace initially intended to call his token "AcceptDogecoin" but had to change his plans after Markus told him "Matt, literally, you are breaking the law," and warned that the Dogecoin foundation is "looking into taking legal action" over trademark infringement.
Wallace's now-deleted tweet said that his "favorite thing about Dogecoin is the positivity." Markus replied, telling him to "knock it off with this 'positivity' thing. There is nothing positive about being a criminal, the thing you are doing."
Wallace denies that he dumped the tokens on investors and claims that the cause of the incident is a bug that was overlooked by smart contract auditing firm Solidity Finance.
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