Stephen Fideisen, a YouTuber better known as Coffeezilla, has levelled explosive allegations of a multi-million dollar scam against AI company Rabbit Incorporation.
In a recent video, Coffeezilla claims that Rabbit, previously known as Cyber Manufacture Co, orchestrated an NFT scam centred around a project called Gama, for which the company allegedly raised $6 million.
Coffeezilla’s investigation hinges on some prior recordings of public conversations and alleged comments made by Rabbit’s founder and CEO, Jesse Lyu. According to the YouTuber, these recordings depict a starkly different image from Rabbit’s current positioning, with Lyu enthusiastically promoting GAMA as a groundbreaking crypto project.
“In these recordings, Lyu allegedly boasted of millions invested to make Gama a revolutionary experience,“
Coffeezilla noted, contrasting this with Rabbit’s subsequent distancing from the cryptocurrency space altogether after its rebranding a few months ago.
According to the YouTuber, this discrepancy raises serious questions about the true nature of the $6 million raised for the project and where those funds ultimately went.
Despite Rabbit’s claims that the funds were solely used for the project, Coffeezilla emphasized the lack of transparency surrounding the project’s true purpose and the ultimate use of the money. The YouTuber claimed that Lyu’s dramatic shift in stance raises suspicions of wrongdoing.
Coffeezilla also claimed that Rabbit’s recently launched R1 product might be another overhyped project similar to the alleged GAMA scam. In his words:
“So many of the promises of Gama didn’t happen. This is relevant to the R1 not just because this project is built on the skeleton of that scam project, it’s also because the R1 is overhyped in a similar way.”
Coffeezilla noted that the team from Rabbit replied to his request for comments, saying, “GAMA is not abandoned but has been ‘opensourced’.”
The Rabbit team has responded to my requests for comment saying GAMA is not abandoned but has been “opensourced”
I tested the Unreal Engine “Metaverse” they “open-sourced”. It crashes constantly, is based on a starter game ‘LYRA’, and the “AI API” was non-functional.
— Coffeezilla (@coffeebreak_YT) May 21, 2024
The Rabbit team has not given any official statement regarding the accusations as of press time.
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