The shocking news of Jeffy Yu’s alleged death this month has sent shockwaves through the cryptocurrency community. Yu, a co-founder of the crypto project Zerebro, reportedly died on May 4 while broadcasting live on the Pump.fun platform.
According to reports, the incident appeared to be a suicide. During the broadcast, Yu was seen smoking a cigarette before taking his own life with a gun. Following the tragic event, an obituary was published on Legacy, confirming that Yu had passed away at the age of 22.
Several digital currency enthusiasts started to doubt Yu’s reported death. At the same time, others in the crypto world mourned Yu’s loss. On May 6th, Yu’s official social media feed accounts were shut down, and this post surfaced purporting that a ‘72-hour deadman’s switch’ had been triggered.
In a final comment, Yu presented the “Legacoins” concept, describing them as a form of “interactive performance art” rather than one of investment. He stressed how much he hated money and burning his Solana-based LLJEFFY coin, creating his “burning ritual” and “manifestation of hatred for money”.
Although the figures are dramatic, on-chain analysis has found suspicious activities in no time. According to Lookonchain, Yu’s wallets had sold millions of Zerebro coins worth of the cryptocurrency after the revelation of his death. The price of the LLJEFFY token had skyrocketed by more than 1,000% on May 6, only to crash by over 90%, resulting in huge losses for some of the more asthmatic traders.
As investigations into the incident continued, doubts about Yu’s death grew. Online sources suggested that Yu had staged his death as a "pseudocide exit strategy" to profit from the situation. A report from Bubblemaps outlined that significant amounts of cryptocurrency had been moved from Yu’s wallets after the alleged suicide.
Furthermore, crypto influencer Irene Zhao claimed to have spoken to someone close to the matter who affirmed that Yu had faked his death. The alleged strategy was supposedly designed to escape persistent harassment and blackmail, with Yu’s assets secure under the guise of his death.
A private letter supposedly written by Yu was shared by Wonderland CEO Daniele Sestagalli, confirming these claims. The letter stated that the apparent suicide was a "viable exit" to disengage from constant threats and harassment, with the final decision to create a fake death influenced by the desire to avoid devaluing the Zerebro and OPAIUM projects. This letter suggested Yu was alive and well, though he remained out of sight to avoid further trouble.
Zerebro’s official team hasn’t made any public statements on the matter. Now that Yu’s obituary has been erased and skepticism about the circumstances is increasing, the question yet to be answered is whether the developer died or if he orchestrated his exit for personal benefit. Crypto analysts have cautioned traders when trading on the news because the real details are still not confirmed.