Is Lil Tay Launching a Cryptocurrency? Everything to Know About the ‘LilTay Token’ Rumors

As the story of Lil Tay's death announcement and subsequent confirmation of life continues to unfold, questions surrounding the bizarre incident remain.

On Thursday, TMZ reported that the outlet interviewed Lil Tay (real name Tay Tian), who claimed that her Instagram account had been compromised. However, social media users noticed that the fake death announcement aligned with the launch of LilTay coin.

YouTube personality Keemstar (real name Daniel Keem) theorized in a tweet posted Thursday that it may have all been a part of a grand scheme.

"Brother always put out false info on her account for years. Media outlets tried to confirm the passing of Lil Tay & there is no record. Father refused to give comment," Keem theorized. "Lil Tay crypto coin launches today."

Soon after, Rolling Stone reported that in an investigation into the launch of the coin, it found that the cryptocurrency endeavor appeared to be led by Tian's former manager, Harry Tsang.

Previously, Tsang refused to confirm nor deny that she had died in a statement to The Messenger. In a new statement given to The Messenger, Tsang appeared to place blame for the incident on Tian's brother, Jason Tian, who was allegedly behind most of the controversial content on his sister's social media accounts.

"The actions of Lil Tay's brother, renowned for his propensity for extreme measures, lead me to hypothesize an alternative motive behind this occurrence," Tsang said. "It is conceivable that the intention behind these events could be rooted in an endeavor to illicitly extract funds from devoted supporters and unwitting bystanders."

The post on Tian's Instagram account incorrectly announcing her death also falsely claimed that Jason had died.

However, Rolling Stone found that Tsang's website redirected to the crypto's token site, which now says: "We are currently close..." The outlet also reported that Tsang was the author of the site, and that he is listed as the CEO of Lil Tay Token in a tweet advertising the coin.

"Good Morning Legends! Our CEO Harry Tsang has been active with the mainstream media, there are certain things we're unable to address at the moment. 'This situation calls for cautious consideration and respect for the sensitivities involved,'" the tweet said.

However, in an update posted Thursday, the token's account claims it has not launched yet.

"Sharing this to let everybody know that we will not be launching anything soon," the update read. "We've been in development for 4-5 months now. If anybody is reaching out to you for money saying they're involved with $liltay it's not true. If you see another token/coin with liltay it's a scam."

Rolling Stone also reported that the moderator of a Telegram account for the token seemingly denied rumors of Lil Tay's death.

A co-founder of the token, a Telegram user who goes by the name "Steven A. Savage," wrote in the comments, "There are a lot of details 'fans' are just speculating on….if Harry wants to go into details with people. I'll let him do it."

Despite all this, the Bit Times, a cryptocurrency news site, reports LilTay Token was deployed on Aug. 10 — only one day after the influencer's death was announced on Instagram. A note on the coin's listing reads that it was flagged "due to evidence of a bug, hack, or scam."

PinkSale, a site that aims to help users create and share their own cryptocurrency, said its sale has been canceled for the time being in light of recent news, according to Rolling Stone.

One Twitter user replied to the LilTayToken account's announcement, accusing the moderators of creating a "publicity stunt."

"So it was 100% a publicity stunt to get eyes on your social medias so you can just *casually* mention your scamcoin lmao," the user wrote. "Honestly 8/10 PR move, utilizing the death of a kid is a great way to get people to hear about you."

The account replied, writing, "The scam would have been if we lied about [Tsang] being on our team. Thank you for trying to understand."