Joey Essex is among a string of reality stars to have been caught up in a crypto coin con thought to have squeezed £500,000 worth of investment from their social media followers, according to reports.

Joey, 30, promoted EATS Coin, a company ‘linked to supposed food delivery app CryptoEat’ on his Instagram alongside the likes of Love Island‘s Belle Hassan, with the pair even sharing photos from a swanky bash held by CryptoEat last week.

However, The Sun reports that yesterday ‘all traces of CryptoEats had vanished online’, prompting Joey to tell the paper: ‘It’s disgusting and I feel bad for anybody in that situation. I do tons of appearances. It’s difficult to vet everybody

Con: Joey Essex is among a string of reality stars to have been caught up in a crypto coin con thought to have squeezed £500,000 worth of investment from their social media followers

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Con: Joey Essex is among a string of reality stars to have been caught up in a crypto coin con thought to have squeezed £500,000 worth of investment from their social media followersPromotional content: Joey, 30, promoted EATS Coin, a company 'linked to supposed food delivery app CryptoEat' on his Instagram and attended a bash in the brand's name (pictured)+8

Promotional content: Joey, 30, promoted EATS Coin, a company ‘linked to supposed food delivery app CryptoEat’ on his Instagram and attended a bash in the brand’s name (pictured)

Also at last week’s CryptoEats event – held at the exclusive London Reign club – were DJ Charlie Sloth and influencer Mandi Vakili.Dailymail.co.uk: News, Sport, Showbiz, Celebrities from Daily MailPauseNext video1:13 / 2:21Full-screenRead More

Joey, Belle, Charlie and Mandi have more than a million followers combined, all of whom would have seen their promotional content.

The stars’ followers were enticed to invest in EATS Coin, which could then be used to purchase food on CryptoEats.

According to the paper, ‘the company’s website and social media accounts are down and anyone trying to sell their EATS Coin is getting error messages’.Joey Essex and other stars ‘tricked’ into promoting CryptoEats

Social media posts: DJ Charlie Sloth plugged the brandParty: Love Islands' Belle Hassan was also seen in photos at the swanky bash held by CryptoEat last week+8

Party: Love Islands’ Belle Hassan was also seen in photos at the swanky bash held by CryptoEat last weekSupport: Influencer Mandi Vakili also offered the brand her support, posing with merchandise stamped with Crypto Eats' logo+8

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Support: Influencer Mandi Vakili also offered the brand her support, posing with merchandise stamped with Crypto Eats’ logo 

Joey added when speaking to The Sun: ‘This company used my name to dupe lots of people into investing money.

He continued: ‘It was all done in good faith, but I feel terrible for people who have lost out.’

Joey’s manager Dave Read told the paper that the TOWIE star was ‘thinking of investing himself’ and ‘feels awful’.Video: DJ Charlie even produced a promotional video for the brand+8

Video: DJ Charlie even produced a promotional video for the brand+8

Investigating: Charlie and his team have since confirmed in an Instagram statement that his team are investigating the incident

DJ Charlie even produced a promotional video for the brand and has since confirmed in an Instagram statement that his team are investigating the incident.

One of the event’s coordinators said many celebrities and influencers were in attendance and plenty of alcohol was available, with guests having a good time. They added that in hindsight ‘it all looks like a big scam’.

The Met Police told The Sun last night it was unaware of the scam.

By block head

Block Head is a blockchain journalist.