FaZe Kay speaks out after crypto scam allegations: “Don’t believe what you’re hearing”

Disgraced former FaZe Clan member Kay has addressed the crypto scam controversy that led to his dismissal, claiming the creator “abused his trust with [him] to scam everybody,” as well as asking fans to “not believe what you’re hearing online.”

Kay was among four FaZe Clan members involved in the alleged SaveTheKids crypto “pump and dump” scheme. The quartet advertised the token and told their fans to buy it before the value of the coin plummeted to nearly 10% of its original value.

Jarvis, Nikan, and Teeqo were suspended from FaZe Clan indefinitely, but Kay was given the boot entirely.

However, he’s now broken his silence since the allegations were leveled, claiming he was also caught up in the scam and asked his fans to “please not believe what you’re hearing online.”

“All of these people making videos think that they know the truth and they know who’s responsible when they just don’t. Here’s the truth: I lost money on SaveTheKids token, but what actually upsets me the most is that anybody else was hurt,” he said in a July 9 video.

Kay launches investigation into SaveTheKids “con man”

Kay himself has hired a team to conduct a “very thorough, independent, and aggressive investigation to find out exactly what happened” with the SaveTheKids token launch.

“We’ve uncovered significant evidence that a dishonest person abused his trust with me to scam everybody,” he said.

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“This person gained my trust and the trust of my friends while still encouraging us to be the public faces of his scheme. He then abused that trust to alter the code right before launch, resulting in six-figure profits for him and for the rest of us to be blamed.”

He asked his fans to come forward with any evidence they may have if they invested in the token themselves.

“We want to provide the authorities with all the evidence they need to take proper action, and with your help, we can hold them accountable and make sure he’s never able to do this sort of thing again.

“You will never know how much I appreciate all of your support, and one way I can pay that forward is that this con man gets the justice he deserves.”

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It comes after experts, on top of organization owner FaZe Banks, said the four members could be arrested for charity fraud and money laundering over their involvement.

Banks denied knowing about the investment before the allegations were released.