Once again, the cryptocurrency sector finds itself embroiled in a controversy, this time around a prominent influencer in the CryptoTwitter space, MrPunk.Eth. The influencer gave birth to his own token, $GANG, with promises attached of huge profits for his unsuspecting followers. What began as a superhyped-to-the-max community project has rapidly devolved into what many will surely call and some are already calling a complete and total pump-and-dump scheme. Having dropped 96% from its apex, with countless investors left nursing grievous wounds, the happenings around $GANG have ignited a firestorm of debate over what, exactly, influencer-run crypto projects mean for the
The post Was $GANG a Massive Scam? Influencer Cashes Out Millions, Followers Left Holding the Bag appeared first on The Merkle News.
]]>
Two 23-year-olds, Gabriel Hay and Gavin Mayo, allegedly abandoned projects after providing misleading information on project roadmaps.
]]>
A look at the dark side of rug pulls and the complex manipulation strategies pervading them.
]]>
A young trader pulled off a pump-and-dump scheme on the coin called QUANT token, but the crypto community countered by rallying the token’s price. Trader Live Streams Token Dump A pump-and-dump coin created by an unidentified young trader saw its market capitalization continue to surge hours after he dumped his holdings on unsuspecting users. Although […]
]]>
Memecoins have turned numerous cryptocurrency investors into millionaires despite their intrinsic lack of utility.
]]>
A federal jury convicted a man for orchestrating an NFT rug pull scheme, pocketing nearly $400,000 through abandoned projects and cryptocurrency laundering schemes. The NFT Rug Pull That Went Too Far — Federal Jury Brings Verdict The U.S. Department of Justice (DOJ) announced Thursday that a federal jury in Tampa, Florida, found Berman Jerry Nowlin, […]
]]>
Cardi B’s WAP memecoin launch stirs controversy as crypto investigators link the wallet address to past scams and rug pull projects.
]]>
The project claimed it was allowing users 72 hours to sign up to receive their ETH back, but two months later, the funds have not moved.
]]>The Solana meme token $FWOG recently experienced a dramatic 73% drop after its top three major investors liquidated their positions and took profits. This significant sell-off caused the token’s value to plummet in a short period, shaking the confidence of many holders. Among the notable traders, one address, known as Smart Money 5CQD2…psn2j, made headlines with a series of strategic moves. Shortly after $FWOG went online, this trader spent 52.6 SOL (approximately $9,510) to acquire 18.1 million $FWOG tokens at an average cost of just $0.0005251 per token. Top Whales Sell $FWOG 3 Million Tokens To Liquidate Their Entire Holdings
The post Solana Meme Token $FWOG Sees Massive Sell-Off, Plummeting 73% Amid Major Investor Liquidations appeared first on The Merkle News.
]]>
The developer wallet made an over 5,100-fold return on his initial $550 investment.
]]>