[REMINDER]Disabled "dev" memecoin rug pull

[acroman08]

So, there is a story going around for a couple of days now where a disabled "dev" who supposedly only has 120 Hours to live launched a memecoin called "120 hours" and said that "trading fees would go to his family". After the coin's market cap reached $500k, the guy did a rug pull, which caused the price to crash. After the rug pull, the guy went offline and disappeared.


source [1][2]

In the end, this is just another reminder for everyone to avoid shitcoin/memecoin as much as possible.

[Hazink]

lol… So one supposed disabled dude who happens to be a developer just used sympathy to win the heart of investors with the heartwarming statement, “I only have 120 hrs.” to be on the earth, and they believed him. What was actually the belief of those investors, if I may ask? Now the guy is gone and did not even wait till the 120 hrs. Maybe his death came sooner, and the family decided to empty the volume for his funeral since the fee was actually meant for them.

[albon]

This is one of the strangest stories I've heard so far. The person who launched this meme coin is quite a talented actor. They should bring him to Hollywood.

It's easy to create a meme coin and gain people's sympathy to push them into investing in it, as happened here. Experts point out that new coins entering the market are soft rug pulls , designed to drain investors’ wallets. Each coin has its own story and strategy for attracting investors. . Half a million dollars is an enormous amount, which clearly shows that the meme coin sector is one of the riskiest sectors. Therefore, one should not invest out of sympathy or greed. This will only lead to losses, while the coin’s developer gets rich at your expense.

[acroman08]

What was actually the belief of those investors, if I may ask? Now the guy is gone and did not even wait till the 120 hrs.

It's either because of sympathy(as you mentioned) or because of what memecoins investors usually do, a quick buy and sell strategy to make money(which is probably the reason for most of the investors on this memecoin).

[Hazink]

What was actually the belief of those investors, if I may ask? Now the guy is gone and did not even wait till the 120 hrs.

It's either because of sympathy(as you mentioned) or because of what memecoins investors usually do, a quick buy and sell strategy to make money(which is probably the reason for most of the investors on this memecoin).

Meme coins are just trap, I also don’t blame the people who describes it as Ponzi scheme the reason is because, since they have no good use aside from the hype it survive on, at the end their will be one who will benefit and win a jackpot from it and their are also those who pays dearly for that as they will lose, this developer, just helped in making things quick for them, lol.. he took everything for himself, even the dude who reported to have been rug pulled is not all righteous if he had the opportunity to sell off what he might have purchased he could have also taken as much volume as he could have from the market.

[DYING_S0UL]

Memecoins have literally no use cases at all. They are solely created as a joke/fun/humor cause, they have zero utility, and is highly risky. That's exactly why I don't trade memecoins or keep any in my wallet. I don't even go for the short profits, because sooner or later I might end up lossing everything, if I kept doing it, similar to those who got rugged pulled by this so called sympathetic dev in your topic. Honestly, this guy deserves an award, because that was some next level acting.