ZachXBT named some sponsors of Token2049 as sketchy. While these coins may have hype-fueled pumps to cult-like followings, they may have no real utility.
Crypto investigator ZachXBT criticized Token2049 for poor sponsor vetting, warning that platinum sponsorships don’t equate to legitimacy. Several sponsors he flagged turned out to have shady records.
JPEX and HyperVerse used event sponsorships to project credibility. Both later collapsed under fraud investigations, causing billions in investor losses and arrests.
Red flags include anonymous teams, low liquidity, overhyped marketing, poor tokenomics and listings only on obscure exchanges.
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