The pieces even continue to attract speculators, but their explosive popularity has also fueled a wave of scams.
A recent case involving alleged fraud in India left investors in shock after the creator of Gang Token did not drain millions in a few minutes.
An anonymous crypto analyst, Fawi, exhibited the suspected scheme, connecting it to a pseudonym investor, MRPUNKDOTETH. The token was promoted as a cultural movement, but skepticism appeared when its creator has retained an overwhelming majority of the supply. Initially claiming to control 90%, a more in -depth survey suggested that it held almost 95%.
While trading has launched, it quickly dump Holdings, obtaining $ 1.3 million in the first two minutes. Using several portfolios, he would have extracted a total of $ 10 million before converting funds by Binance.
While estimates on final transport vary, experts think that the scam has brought in at least $ 4 million, leaving investors with no value. The gang price dropped 99.5%, triggering a general indicator while the community required legal action and called for exchanges to freeze the stolen funds.
Meanwhile, separate controversy saw the brutal collapse of the meme Charles play. Its creator had sent a value of $ 100 million in chips to the founder of Cardano, Charles Hoskinson, in the hope of approval. Instead, Hoskinson has burned the entire offer, instantly erasing any speculative value linked to its name.
