Key takeaways
- Philip Banks’ account may have been compromised after an unexpected tweet announcing the intellectual property rights of the ChillGuy token team.
- The ChillGuy token surged 30% after the tweet, but all gains were erased as speculation about the compromised account grew.
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Speculation has emerged that CHILLGUY creator Philip Banks’ account may have been compromised after an unexpected tweet announcing the granting of intellectual property (IP) rights to the CHILLGUY token team.
The tweet, allegedly posted by Banks, declared“I have decided to provide licensing and intellectual property rights to the CHILLGUY token and the team.”
However, doubts quickly arose when Banks’ account was linked to the launch of a new meme coin featuring another of his characters, Philb, on Pump.fun.
The new coin quickly gained traction, reaching a market cap of $1 million before collapsing completely. This raised suspicions that the bank’s account may have been hacked or compromised, leading to an unusual announcement regarding intellectual property rights.
The official X community account CHILLGUY also expressed confusion, stating:
“We were surprised by a tweet on the @PhillipBankss page this evening announcing that it had granted licenses and intellectual property rights. We continue to seek details. Always stay safe and do not send funds to solicitations without proper due diligence.
These events have fueled growing concerns about the security of bank accounts.
Banks’ sudden change in stance – initially announcing plans to make takedowns for unauthorized uses of the character CHILLGUY, followed by granting intellectual property rights to the token team – confused many.
Despite the controversy, the CHILLGUY token initially surged 30% following the IP rights announcement, but quickly erased its gains.
The token went viral in November after TikTok videos attracted massive attention, pushing it to a peak market cap of over $700 million.
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