The funds raised are estimated at $906,000. The number of subscribers to the project was more than 50,000. As reported by Whale Insider, the community suspects the SolCondoms team of committing the so-called rug pull. This is when developers suddenly abandon a project and sell or remove all of its liquidity. The name comes from the phrase “to pull the rug out from under (someone),” that is, to remove support.
“You can't trust a damn soul in the cryptocurrency market. If you received a CONDOM airdrop, your wallet will be emptied. This account had 50,000 followers in X and was followed by big names. $1 million was stolen,” a community member under the nickname Harfordton accuses the project team.
Rug pulls are more often associated with decentralized finance projects that provide liquidity to decentralized exchanges.
Earlier, Ethereum co-founder Vitalik Buterin said that memcoins rise and fall in price too often without having any value. According to Buterin, meme tokens are becoming a problem, and it is worth considering how to find better uses for these digital coins.
Source: Bits
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