Another scam has come from the cryptocurrency market. It is claimed that the developers of the altcoin project MonkeyPoxInu, inspired by the monkeypox virus that has been talked about recently, disappeared with $ 400 million 3 days after the launch. After the news, the altcoin price collapsed.
The developers of the altcoin project took the coins and fled!
The MonkeyPoxlnu (MPOX) coin, named after the recent resurgence of the MonkeyPox virus, was launched on May 21 and lost 99% of its value three days later on May 23. According to a tweet shared by
CryptoWhale, the value of MPOX has plummeted after its developers allegedly committed an exit scam and disappeared for more than $400 million.
MPOX is one of the leading brands like CoinMarketCap or CoinGecko as it is a new token. not listed on crypto data websites. It is a BEP-20 type token and is only listed on PancakeSwap under this address: “0xE0934870Bcb3EF47c9Ff61Bda47CBdA74F1D0DC3”
Is $400 million really gone?
Some community members question the amount the developers allegedly stole. Unknown in the discussions, they concluded that $400 million is too much of an investment for a three-day altcoin.
The Financial Times raised the same question. According to an article they published yesterday, MonkeyPoxInu’s Telegram channel had 13 hodlers and 90 subscribers. The article points out:
It would be absurd to believe that developers made more than $400 million by any means other than money laundering to this level first.
At the time of writing, there is still no update on the amount allegedly stolen by the developer team.
Based on Tweets commenting
that the altcoin project is similar to SQUID, the community was waiting for the exit scam. To many, MPOX is like the Squid Game Token (SQUID) scam, where the developers took advantage of the popularity of an issue we also featured in the Cryptokoin.com news before disappearing with the money raised. Many mocked the news, implying that the apparent result was a rug pull scam.
Another user sarcastically gave the example of PonziCoin and some people never did. He implied that he didn’t know.
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