Bryan Legend: The Man, the Myth, the… Scammer?

By Grit Daily Staff Grit Daily Staff has been verified by Muck Rack's editorial team
Published on March 1, 2023

Cryptocurrency has launched us into a new age of transacting and investing, but the field has proven itself ripe for exploitation through scams like ‘Pump and Dump,’ ‘Rug Pulls,’ and ‘Burn Wallet Scams.’

If you are wondering what these are, a “Pump and Dump” involves artificially inflating the price of a crypto token, only to sell it for a profit and leave investors holding worthless assets. On the other hand, “Rug Pulls” refer to developers removing liquidity from a project, rendering tokens useless. Lastly, “Burn Wallet Scams” trick investors into sending tokens to an inaccessible wallet under false premises.

Why is this important? Because today we are dissecting the complicated life and business dealings of one man, Bryan Legend, who has been accused of employing many of these tactics.

The Man Behind the Pseudonym – Bryan Legend

Bryan Legend, born Bryan Seiler, began his foray into questionable business practices with what could be considered “entry-level scams.” These included selling non-existent movie tickets on eBay, a practice that even caught the attention of his own family.

As Bryan moved onto larger schemes, he changed his name, claiming he did it due to jealousy from his family, who have gone on record discussing his long history of alleged scamming.

The Beginning of a Questionable Crypto Saga: Fitrova, Tagz Exchange, and Clever DeFi

The initial cryptocurrency projects that Bryan Legend was involved in were relatively minor in comparison to his later scams, but they still raised concerns. Fitrova and Tagz Exchange were early endeavors that set the tone for a path of questionable integrity. Both projects were opaque, raising red flags for those with even a modest understanding of the crypto space.

Following Fitrova and Tagz, Bryan was associated with Clever DeFi, where he was accused of using shell wallets to manipulate the token price artificially. Despite vehemently denying these accusations, he later inadvertently leaked wallet information, linking him back to these controversial tactics.

The So-Called “Game Changer” Safuu and Vulcan Blockchain

Safuu: Promises and Downfall

The first major project that brought Bryan Legend into the crypto limelight was Safuu, a blockchain project with lofty claims of decentralization and community empowerment. At its onset, Bryan assured investors he was financially stable and did not require a salary until the blockchain was operating seamlessly. However, discrepancies soon emerged.

Coffeezilla, a noted YouTuber and crypto investigator, delved deep into the Safuu project and discovered that $26.5 million was withdrawn from the Safuu Treasury within a year. The fund was supposed to support projects, marketing, and mitigate price drops, but Bryan’s extravagant lifestyle and missing funds told another story.

Furthermore, the Safuu Insurance Fund (SIF) and another wallet named The Fire Pit, which were supposed to be untouchable, were also compromised. Bryan would later admit to having access to these funds all along, causing even his staunchest supporters to question his integrity.

Vulcan Blockchain: The Mystery of Missing Millions

As Safuu lost steam, Bryan Legend initiated another fundraising endeavor — Vulcan Blockchain. According to him, the project successfully raised $8.6 million. However, most of this money was unaccounted for and did not contribute to the development of the blockchain as he said.

A member of Vulcan Blockchain confirmed that the actual expenditure on protocol engineering was far below the numbers Bryan publicized. Around $7 million remains unaccounted for to date.

Bryan Legend announced his resignation from Vulcan in July. “It was only right and the best move for me to resign and sacrifice myself for the greater good,” he said in a tweet. “This was the only way Vulcan could have legs to succeed and prosper.”

While his “sacrifice” seems questionable, it is certainly true that his departure is the only way the company has a chance to survive.

Bryan’s Next “Miracle Crypto Project” Is Called Yomp Token

Bryan Legend seems undeterred by the mounting criticisms and controversies surrounding him, which shouldn’t be a surprise given his history of “survival” in the face of criticism.

Bryan’s latest venture, Yomp Token, is already in the works. While details are scarce, the cautionary tale of his past projects offers a grim forecast. Yomp Token may be the next vehicle for the same types of questionable tactics that have become Bryan’s modus operandi—unaccounted funds, unrealistic promises, and eventually, disappointed investors.

The crypto community is now better informed and more skeptical, and hopefully, waiting to see how this new venture unfolds or if legal action for his past actions will be taken.

Why Do People Keep Investing?

Despite numerous red flags and even calls for legal action from disillusioned supporters and family members, Bryan Legend has successfully evaded repercussions. One might ask, why do people continue to invest in his ventures?

For some, it is greed — the lure of quick profits. For others, it is a lack of a proper understanding of cryptocurrency and crypto investment.

Bryan has an ability to project confidence and articulate grand visions, which also plays a role in drawing in new and sometimes inexperienced investors. However, as awareness grows, his window of opportunity is gradually closing.

Final Thoughts

While Bryan Legend’s ventures continue to generate buzz, they also serve as a cautionary tale. From his early days of selling fake movie tickets on eBay to the latest reports of multi-million-dollar scams in the crypto space, Bryan’s journey has been riddled with questionable decisions and unfulfilled promises.

His story underscores the risks inherent in the largely unregulated world of cryptocurrencies and emphasizes the importance of conducting thorough research before investing. It remains to be seen whether Bryan will face any legal consequences for his actions, but what is clear is that his credibility and reputation have been severely compromised. Proceed with caution.

Editors Note: Our original article portrayed Bryan Legend in a favorable light. However, new investigative findings have revealed a series of alleged scams and questionable practices. This article has been revised accordingly to provide accurate, critical information.

By Grit Daily Staff Grit Daily Staff has been verified by Muck Rack's editorial team

Journalist verified by Muck Rack verified

Grit Daily News is the premier startup news hub. It is the top news source on Millennial and Gen Z startups — from fashion, tech, influencers, entrepreneurship, and funding. Based in New York, our team is global and brings with it over 400 years of combined reporting experience.

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