Hasbulla’s BULLA Token Faces Scam Accusations Amid Growing Crypto Criticism

The post Hasbulla’s BULLA Token Faces Scam Accusations Amid Growing Crypto Criticism appeared first on Coinpedia Fintech News

The latest memecoin hype around Russian influencer Hasbulla’s new token BULLA is turning sour as serious concerns have been raised by well-known crypto voices. The coin, which raised around 20 million dollars, is now being accused of scamming early investors, with critics warning that history may be repeating itself.

Hasbulla raised $20M for a memecoin presale in the past 24 hours.

One single address sent in almost $1 Million USD1.

Good luck to all participants! pic.twitter.com/ifvYw0NrDr

— Arkham (@arkham) May 27, 2025

Crypto investigator ZachXBT and others are scooping security and see this as a potential scam. Citing past incidents like the BARSIK rug pull earlier this year, ZachXBT warned users not to send funds, highlighting a lack of trust due to Hasbulla’s history in the space.

Memecoin History Raises Red Flags

So sad to see #Binance endorsing people like Hasbulla.

Last time, he launched the $BARSIK memecoin and rugged the Barsik community without a word.

Now he’s raised another $20M for his new memecoin, $BULLA…

And guess what?

Binance and CZ still openly endorsed him during the… pic.twitter.com/DFSUEchvvB

— Wise Advice (@wiseadvicesumit) May 28, 2025

Crypto analyst Wise Advice expressed disappointment in Binance for supporting Hasbulla during a recent event. He pointed out that Hasbulla had previously launched a memecoin called BARSIK, which disappeared without any explanation after launch. Now, with BULLA in the spotlight, he fears the same trick is being played again. He called out a familiar pattern that includes using a famous face, promising big things, and then vanishing once retail investors put in their money.

Wise Advice also criticized Binance founder CZ for backing a project tied to someone with a known track record of rug pulls. He believes the platform should not give exposure to such tokens, especially when many inexperienced investors get caught in the hype.

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What’s Brewing Inside?

Blockchain investigator ZachXBT also came forward with strong concerns. He accused the BULLA team of deleting important messages and offering zero transparency about the token’s plans or structure. When he asked questions, the team reportedly banned him from the group instead of providing answers.

@zachxbt called out the $Bulla team (yep, the Hasbulla meme token) for scamming presale investors. He pointed to deleted messages and zero transparency. Instead of a real answer, they banned him.

Famous face or not, a meme coin stays a meme coin. Same old “take the money and… pic.twitter.com/60CCipIrw0

— Teazelbtc (@Teazelbtc) May 28, 2025

Another Crypto user, Teazelbtc, supported Zach’s claims and reminded followers that a memecoin, no matter how famous the face behind it, is still a memecoin. He called it the same old trick of taking money from investors and disappearing without fulfilling any promises.

Investors Urged to Be Cautious

With these warnings surfacing, more crypto users are now urging caution. The mix of celebrity hype and lack of accountability is proving dangerous for everyday investors. While the BULLA team has yet to respond publicly, the growing criticism shows that trust is quickly eroding.

As always, experts advise investors to do their own research and not to be swayed by celebrity influence when it comes to risky assets like memecoins.