I believe the developers can be sued if their coin did not provide what was promised. Most of these meme coins promise a lot of things, especially during that period when memecoins were at their peak, and almost every celebrity had a token. They should be sued. Or at the very least, the authorities should hold them accountable for things like that. This is why I believe the memcoin market needs a lot of regulation. But at the same time, the investors need to take responsibility for their actions and face the consequences. If they had made huge profits, no one would have heard about it.
It's a valid argument. But suing developers would only be possible if their identities are known to the public. If they're like Satoshi Nakamoto, then good luck with that. It'll be impossible to hold them accountable for their actions. Investors must do their own research first, before making wild decisions that will cost them their money. The vast majority of people believe crypto is just a "get rich quick" scheme with zero risks.
"Meme" coins are among the riskiest cryptocurrencies on the market. Besides lacking real use cases, they're subject to high inflation and market manipulation. Developers often use these crypto assets to hunt for victims and fill their pockets with money. Not all of them, of course. Because there are a few that are honest and dedicated to the community. Dogecoin's developers are a good example of this. Fortunately, regulators are paying close attention to the recent developments in the industry. We can feel assured they'll come to investors' protection when disaster strikes. Only time will tell...
