Thread by @zachxbt

1\ NFT’s have been awesome as of recent. Throw money at any project and get 2-10x returns in minutes. It is DeFi summer all over again.

However with all money it brings opportunists who deceive people at whatever cost to get what they want.

Let’s examine ColeThereum.

2/ Let’s examine his past, actions as an influencer, and some of the project he’s founded.

Many of you may not be familiar with his username but as of recent he has become a popular name in the space due to the success of Pudgy Penguins.

3/ Recently Cole was called out for a previous business he ran called eBoy Outlet. He clarified it was a drop shipping business he founded early on with not much capital.

When you visit the social media page for the brand you are flooded with negative reviews.

4/ Why the negative reviews you might ask?

The comment and review sections are filled with instances of customers not receiving orders, refunds, or responses from support.

Note he deleted the Instagram page today after he got called out. Luckily the Facebook page was there.

5/ Cole responded today denying the claims and blamed the issues due to COVID. He claims everyone was refunded. Yet what’s comedic is a lot of these orders were before COVID even happened….

Funny “coincidence”

6/ Cole also promised to host a giveaway for the FLS NFT, which he only did after being called out weeks later.

He claims that it was “always” his plan to give it away.

Yet he listed the NFT for sale on Open Sea as well.

7/ He was also paid to shill NFT projects but never disclosed this to his audience on Twitter and instead pretended to have a genuine interest in them.

But he was called out for it and donated the alleged funds.

He claims its for his mental health and to spread positivity

8/ Lets look at MFP, a project he founded. This one in particular hasn’t been active in weeks.

Have to love cash grab projects.

(Enjoy holding your pickles and remember it’s all for peace, love, & positivity)

9/ More recently his project Pudgy Penguins caught traction and gained popularity fast. Whales and funds bought them up

This made a lot of people huge sums of money fast.

However with more and more bad things popping up daily about Cole. Its unfortunate to see it gain traction.

10/ Well for one people are quick to defend him because they made money from Penguins.

Unfortunately however he’s rekt many people and still earns a % on each Penguin sale.

Do you see the pattern where he only apologizes and makes excuses after being called out?

11/ There’s no problem with making your own projects and innovating the NFT space.

But shilling projects w/o disclosing, abandoning projects, and riding off the success of other projects is not the way to go about it.

In the end it’s pretty transparent it’s all just an act.

Update: @StikTheDip was one of the first people to expose Cole for what he was doing.

Cole did not like this and proceeded to DM him repeatedly. This is the exchange between the two.

Want to know the messed up part? Cole even proceeded to to get Stik removed from his NFT job.

This is the “DOX” he’s referring to.