Jeffy Yu, the 22-year-old co-founder of the Zerebro artificial intelligence (AI) crypto project, has found himself in a controversy amidst suspicions that he may have staged his own death.

Initially thought to have taken his own life, reports of Yu's demise led to a significant surge in the value of LLJEFFY token, a meme coin associated with his legacy, reaching a market cap of approximately $105 million. However, emerging evidence indicates that Yu might still be alive and participating in cryptocurrency transactions.

The situation unfolded when a video circulated on X (formerly Twitter) supposedly showing Yu's suicide during a livestream on the Pump.fun platform on May 4. This shocked the crypto community. Despite an obituary appearing on Legacy on May 6 and subsequent tributes, a pre-scheduled article attributed to Yu introduced the concept of "Legacoin," a new type of meme coin connected to legacy and permanence. He launched LLJEFFY as the inaugural legacoin on the day of his reported death.

The LLJEFFY coin, considered a form of interactive performance art, saw a drastic increase in value following the blog's publication. The market capitalization surged to around $105 million, representing a significant rise of 2,115%. However, the token's value has since dropped significantly by 96.19%, bringing its current market cap down to only $4.0 million.

Concerns arose as users presented evidence suggesting that Yu was alive and actively involved in trading. Posts on X highlighted trading activities associated with Yu's alleged wallet address postulated to be linked to him.

Claims from various sources, including crypto influencer Irene Zhao, hinted that Yu may have orchestrated his death to escape public scrutiny. Additional information surfaced when a user named Daniele posted a letter reportedly from Yu to an early investor, detailing the reasons for faking his death due to harassment, blackmail, and doxxing concerns.

Yu emphasized in the letter that his decision was motivated by safety and privacy, rather than financial gain. His current whereabouts remain uncertain, triggering ongoing discussions within the crypto community about the repercussions of this unprecedented event.