Hasbulla crypto scam rumors are swirling after the internet celebrity launched a controversial meme coin called Bulla (BULLA). On May 26, Hasbulla Magomedov invited fans to send BNB or USD1 stablecoins to a wallet on the BNB Chain as part of a presale. Within 24 hours, he claimed to have raised over $20 million from more than 8,700 investors — but provided no details on when the tokens would be distributed.
No Token Launch Timeline Raises Red Flags
The crypto community quickly raised concerns. Hasbulla has not released a roadmap or tokenomics, and the official BULLA website is offline. Investors are now questioning whether they’ve been lured into a pump-and-dump or rug pull scheme.
Notably, blockchain investigator ZachXBT flagged suspicious activity on the BNB Chain. He pointed out that many “investments” came from wallets recently funded via centralized exchanges.
“If you check BNB Chain activity, you’ll notice wallets linked to centralized exchanges. This is classic manipulation to fake demand,” ZachXBT warned.
He implied that Hasbulla could be orchestrating a rug pull — a scheme where a token’s value is pumped artificially and then dumped by its creator, leaving investors with worthless assets.
History Repeats: Hasbulla’s Failed BARSIK Token
This is not Hasbulla’s first foray into questionable meme coins. In November 2024, he launched Hasbulla’s Cat (BARSIK), which quickly collapsed in value after an initial bull run. Investors suffered major losses as the coin’s price plummeted and trading volumes dried up within weeks.
Crypto analysts now fear that BULLA could follow the same path, with artificially inflated hype and a hidden exit plan. The lack of transparency and technical infrastructure has only deepened those suspicions.
Is BULLA a Meme or a Trap?
While some defenders argue that BULLA is “just a meme,” critics say it uses humor as cover for high-risk behavior. Without a smart contract audit, whitepaper, or confirmed roadmap, the project fails even basic due diligence standards.
If Hasbulla follows through with token distribution and liquidity locking, BULLA might recover trust. But for now, the Hasbulla crypto scam allegations remain a warning to investors: meme coins tied to celebrities may offer laughs — but not always value.
