The altcoin project introduced by a crypto influencer and claiming to be the secret PEPE has gone to zero. There are suspicions that the project is a ‘rug-pull’ event. Allegedly, investors lost $2.2 million.
Influencer said “Next PEPE”, fraud is out!
cryptocoin.com As you can follow from , scams and scams are not uncommon in the crypto world. A popular crypto influencer named Pauly has promoted a new entrant altcoin called PNDX. So much so that he claimed that the project would be the next popular meme coin, PEPE. However, the end of this project was a complete disappointment. According to recent reports, PNDX has lost millions of dollars to its investors. There have also been suspicions that its developers designed the altcoin for a ‘rug-pull’.
Allegedly, the altcoin project in question had a malicious function. Because his smart contract allowed anyone to transfer someone else’s tokens to any address. Thus, as soon as liquidity was added to the PNDX pool on Uniswap, the bad guys who sold the tokens for huge profits pulled the carpet. After that, the altcoin price dropped vertically to zero.
PNDX price chart. source: Rune/TwitterMeanwhile, Pauly claimed there was an issue with the token launch. It also claimed that it would compensate users who suffered losses. However, the influencer had previously claimed that it would lock up liquidity for a week.
Investors lost $2.2 million
As a result, investors who eagerly bought PEPE tokens are left with their worthless PNDX. Allegedly, investors lost about $2.2 million in this event. Following the situation, the crypto trader nicknamed Rune shared the following after the event:
Pauly time remained intact for a week. However, it messed up so much that almost everyone lost money on PNDX. He pasted a contract and a website. On the website, people could print tokens. But it was like a pre-sale. A random guy added liquidity right after printing and everyone started buying on contract using typical MaestroBots or eamUnibot. It was as it usually is.
Pauly time rugged for a week, and fucked up so hard that near everyone lost money in $PNDX
He pasted a contract and a website. On the website people could mint tokens, but it was like a presale. Some random dude added liquidity right after minting, and everyone started buying… pic.twitter.com/iETfmRpVXn
— Rune 🔮 (@RuneCrypto_) July 28, 2023
In addition, Rune said in her statement, “Liquidity was ~$5,000. People were buying tens of thousands. However, they were getting fully rect (-100%). Because the miners were selling ~100X up on a low liquid coin with great effect. I’ve seen several wallets that make ~$700,000 for less than $10,000. However, everyone else lost about $2.2 million in total,” he said.
