Jeffy Yu, a co-founder of the AI crypto project Zerebro, has been accused of faking his own death to manipulate investors, as recent reports claim he used this as a strategy for financial gain.
Crypto Developer’s Apparent Death During Livestream
This week, shocking news emerged about a developer’s presumed suicide related to mental health struggles. Reports surfaced about Jeffy Yu, co-founder of Zerebro, seemingly taking his own life during a livestream on Pump.fun on May 4.
In a disturbing video shared on X, Yu appeared to end his life while smoking. An obituary was later published on Legacy, confirming his death at age 22.
On May 4, Yu introduced “Legacoins” in a blog post—tokens described as interactive art rather than investments. Following his alleged death, both Zerebro’s and Yu’s X accounts were deleted. In a scheduled message, he mentioned that if readers were seeing it, his “deadman’s switch” had been activated, implying he was no longer alive.
Yu’s announcement featured a new token called LLJEFFY, which signified his disdain for money. Following the reports of his death, LLJEFFY’s value initially surged over 1,000% before rapidly dropping more than 90%, causing significant losses for investors.
Analysis from Lookonchain revealed that the rumors of Yu’s death triggered extreme price fluctuations for $LLJEFFY, with one trader alone losing $93,000 in just one hour due to panic buying.
Nevertheless, the crypto community began to suspect Yu had faked his death based on irregular patterns in blockchain transactions.
Allegations of a Planned Exit Scam
According to Bubblemaps’ timeline, wallet activities linked to LLJEFFY changed significantly after the rumors of Yu’s death surfaced. One address was reported to have sold over $170,000 worth of tokens shortly thereafter.
Additionally, a wallet associated with Yu reportedly sold 35.55 million ZEREBRO for around $1.27 million, followed by a transfer of over $1 million to the LLJEFFY developer wallet.
Crypto influencer Irene Zhao indicated she had spoken with someone familiar with the situation who confirmed Yu was alive and well. Meanwhile, some individuals in the crypto space suggested the scheme could be viewed as the industry’s first “pseudocide exit strategy.”
A supposed letter from Yu suggested that the staged suicide video was his only escape from ongoing threats and harassment. The letter stated that his public departure would have damaged ZEREBRO’s value.
As speculation grew, the obituary on Legacy was quickly removed, and Lookonchain commented that the Zerebro team hasn’t made any official statements to clarify whether Yu is indeed alive or if his death was fabricated. Traders are advised to be cautious amidst the swirling rumors.
