One of the scourges of the cryptocurrency market is scam projects. In recent developments, the meme coin project, which was advertised by a Dogecoin phenomenon, suffered 600,000 dollars. Here are the details…
Scandalous scam claims in the meme coin project
A token released by popular Dogecoin phenomenon Matt Wallace lost 99.9% of its value within minutes in its early days. On Tuesday, Wallace and fellow YouTuber Myles G launched the AcceptCrypto (ACEPT) project, whose value dropped to zero after seeing a 12,000% rise.
The investors of the token on social media that the project insiders are most likely a scam He was in turmoil among the phenomena who published his arrangement. They essentially eliminated all liquidity by cashing out and dumping new investors’ funds.
Dogecoin co-founder on Twitter Shibetoshi Nakamoto (@BillyM2k ), Billy Markus thinks the creators lost 200 Ethereum (ETH) worth $600,000.
While the event was lit with the tweets above, Crypto Accept (ACPT) The price lost 100% in a short time.
Matt Wallace denied the allegations
Wallace denied all accusations that he was behind the pump and dump plot. In a statement posted on Twitter, the Dogecoin phenomenon said that he was “not entirely sure what happened” and was “doing everything he could” to find a solution:
I don’t think they did it on purpose, but the contractual issue is something from Solidity Finance. it was due to team member because there was no change. I’ve done everything I can to figure this out and find a solution and it’s been awful.
Drawing attention after Wallace’s statements, Solidity Finance has the following on the subject:
Matt Wallace shared during the day, “It’s discouraging for us to hear this because the code works perfectly. We created working code for them, had other senior analysts audit it, and then handed it over. We have absolutely no control over the project, on the blockchain or otherwise.
Earlier this month, Wallace attempted to issue a token called “Accepted Dogecoin” to raise funds to encourage businesses to accept DOGE as payment. As we reported on cryptokoin.com, the name of the token was changed to “Accept Crypto” after Dogecoin co-creator Billy Markus and the Dogecoin Foundation threatened to sue Wallace for trademark infringement.
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