ViruSs's ZUKI Coin Scam: A Lesson on KOL Responsibility in the Cryptocurrency Market

In mid-2021, ViruSs – a popular streamer in Vietnam with millions of followers – decided to venture into the world of cryptocurrencies. What happened next became one of the most shocking scams that rocked the Vietnamese crypto community, leaving heavy consequences for thousands of new investors.

Streamer ViruSs Steps Into the Crypto World

2021 was a booming year for the cryptocurrency market, and ViruSs – also known as Đặng Tiến Hoàng – like many other influencers, saw an opportunity to profit from the hype. He participated in promoting the Zuki Moba project, an NFT game with its own token called ZUKI.

ViruSs’s involvement in this project was not accidental. He was known to have close ties with Zuki Moba through KV Ventures – an investment fund co-founded by ViruSs. With significant influence over his fan community, ViruSs frequently shared about ZUKI on TikTok, YouTube, and other social media platforms. He encouraged people to invest when the token price hovered around $0.2–$0.3, creating strong appeal for new investors (often called F0).

Price Surge of ZUKI – Is It a Pump and Dump?

ZUKI’s growth seemed unstoppable until the end of 2021, when the token’s price suddenly plummeted. According to CoinMarketCap data, ZUKI’s price dropped to $0.0879 – a decline of over 70% from the level ViruSs had encouraged people to buy. The project’s market cap evaporated nearly $7 million, leaving thousands of investors with significant losses.

A big question arose in the community: Did ViruSs perform a pump and dump to profit from investors, or was this just natural market fluctuation? Suspicion grew as people realized that influential figures like ViruSs often benefit first when prices rise, then exit before the crash occurs.

Public Confrontation: Zet Under Criticizes ViruSs

The situation escalated when Trần Văn Phúc (streamer Zet Under) – a well-known investor and administrator of the Phố Tài Chính community on Telegram – publicly criticized ViruSs. Zet Under commented on ViruSs’s video: “Market experience under 3 months and already pumping?,” implying that ViruSs lacked experience and was manipulating the market.

ViruSs did not stay silent. He posted a series of three videos on YouTube, claiming he did not “pump” anyone’s price and even accused Zet Under of past financial scams. However, public pressure was overwhelming. Instead of continuing the dispute, ViruSs deleted all these rebuttal videos. This action only fueled suspicion – if he was innocent, why delete them?

ViruSs Leaves KV Ventures and the Lessons Learned

By late December 2021, ViruSs officially announced his departure from KV Ventures and ceased involvement in the Zuki Moba controversy. He also significantly reduced his crypto-related activities on social media, returning to his main job as a streamer.

While ViruSs stepped back, the Zuki Moba project and its ZUKI token continued to decline in popularity, leaving thousands of investors with heavy losses. This incident sparked intense debate about the responsibilities of KOLs in Vietnam’s crypto market.

Experts like Nguyễn Hoàng Hưng warned that when influencers like ViruSs set specific prices without offering cautious advice, they can induce FOMO (fear of missing out) and lead investors to heavy losses. This serves as an important lesson for the community: instead of blindly trusting celebrities, always do your own research (DYOR) to protect your assets.

The ViruSs ZUKI scam was not an isolated crisis. It reflects a systemic issue in the crypto market: the imbalance of information between influencers and ordinary investors, and the urgent need for clear regulations to protect consumers.