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Chill Guy Meme Coin Under Fire for Alleged Plagiarism as Market Cap Falls
In the latest development in the crypto space, Chill Guy meme coin has been accused of plagiarism, sparking widespread outrage and controversy on Crypto Twitter. The allegations have led to a significant drop in market cap, with the asset currently trading at $172 million.
The incident centers around a Vietnamese children’s magazine cover featuring an illustration that bears an uncanny resemblance to Chill Guy art. Many users have taken to social media platforms to question whether creator Phillip Banks had indeed plagiarized the artwork. Banks himself addressed the accusations, stating that his work was the original source and dismissing critics.
However, Coin68, a reputable Vietnamese crypto publication, has revealed that the magazine cover artist drew inspiration from Banks’ Chill Guy artwork. This revelation has fueled the debate, with many users on X calling out Banks for alleged intellectual property theft.
The controversy comes as Chill Guy’s market cap continues its downward trajectory. The once-viral meme coin, which had reached a peak of $790 million, is now facing an existential crisis due to this plagiarism scandal and other earlier controversies, including a hacking incident that led to false IP rights claims and the promotion of another token.
The saga highlights the need for transparency and authenticity in the crypto space.
Source: cryptobriefing.com
