Crypto investigator Stephen Findeisen, known as "Coffeezilla" on YouTube, has brought to light accusations against the AI firm Rabbit, suggesting the company is involved in a non-fungible token (NFT) scam.
In a video released on May 21, Coffeezilla revealed that the company previously operated under the name Cyber Manufacture Co. and had raised $6 million for an NFT project, Gama.
A few years later, Rabbit's founder and CEO, Jesse Lyu, distanced the company from crypto, stating on Discord that Rabbit would “never touch crypto.”
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Findeisen's investigation included recordings of Lyu from the project's early days, in which he described ambitious plans for Gama, claiming they were investing millions to create a "next-level experience." Lyu mentioned that NFTs were just the beginning, with future plans for a "Gamaverse" and innovative ideas involving clean energy and Gama Coin.
However, Coffeezilla questioned the use of the $6 million raised for Gama, suggesting that the project fell short of its promises and that Rabbit might be built on what was left from this failed project. He pointed out that many of the grand visions for Gama were never realized, raising suspicions about Rabbit's current R1 product:
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.
Lyu tried to minimize the significance of the Gama project, calling it a "fun little project" from the COVID-19 pandemic, and claimed to have left it once it was open-sourced.
Findeisen's concerns echo in statements by other people in the industry. On January 14, Josh Olin, founder and CEO of WeGPT, labeled Rabbit’s project a “scam” on X, describing it as a quick cash grab designed to attract investors.
These allegations have cast a shadow over the Rabbit AI company's integrity, prompting calls for greater transparency.
In other news, two individuals have recently been arrested for laundering $73 million in crypto through "pig butchering" scams.
