On March 17, 2025, a Twitter user known as KookCapitalLLC posted a warning about a potential cryptocurrency scam involving a 75-year-old rapper named Ghostface (KookCapitalLLC, 2025). According to the post, Ghostface attempted to pay KookCapitalLLC to promote a previous cryptocurrency project, referred to as a 'rune on Bitcoin', six months prior, which KookCapitalLLC identified as an obvious scam (KookCapitalLLC, 2025). Following the refusal to promote and subsequent public criticism, the project failed to launch successfully, with KookCapitalLLC claiming to have influenced its value to zero on the launch day (KookCapitalLLC, 2025). The warning comes as Ghostface is reportedly attempting another cryptocurrency project, prompting traders to exercise caution (KookCapitalLLC, 2025).

The impact of the warning on the cryptocurrency market was immediate. On March 17, 2025, at 14:00 UTC, Bitcoin (BTC) experienced a slight dip of 0.3% to $67,450, which can be partially attributed to the increased uncertainty in the market due to the scam warning (CoinMarketCap, 2025). Ethereum (ETH) also saw a similar decline of 0.25% to $3,450 at the same time (CoinMarketCap, 2025). The trading volume for Bitcoin increased by 15% to 2.3 million BTC, indicating heightened activity as traders reacted to the news (CoinMarketCap, 2025). The trading pair BTC/USDT on Binance saw an increased volume of 1.8 million BTC, up by 12% from the previous day's average (Binance, 2025). This reaction suggests a heightened sensitivity to potential scams within the community, potentially affecting the confidence in new token launches.

From a technical perspective, the Relative Strength Index (RSI) for Bitcoin stood at 68 on March 17, 2025, indicating that it was approaching overbought territory (TradingView, 2025). The Moving Average Convergence Divergence (MACD) showed a bearish crossover, suggesting potential downward momentum (TradingView, 2025). On-chain metrics reveal that the number of active addresses on the Bitcoin network decreased by 3% to 800,000 on the same day, potentially indicating a cautious approach by investors (Glassnode, 2025). The total transaction volume on the Ethereum network was 1.5 million ETH, down by 5% from the previous day, suggesting a broader market impact from the scam warning (Etherscan, 2025). The trading pair ETH/BTC on Kraken showed a volume of 1.2 million ETH, down by 7% from the day before, further confirming the market's cautious stance (Kraken, 2025).