YODA coin carpet pulled and lost 100% of its value on May 5, as crypto sleuth PeckShieldAlert revealed.
The project deleted his Twitter account and the scammer has already transferred more than 68 Ethereum (ETH) according to PeckShieldAlert’s tweet.
Pull the carpet
Avid crypto collector @borovik.eth was one of the first to realize the appeal. He tweeted a screenshot of Yoda Coin’s official account, which was inaccessible.
Crypto Twitter then provided additional information about the suspended addresses in the comments. On-chain sleuth ZachXBT shared that the YodaCoin team has also deactivated nine bot accounts with gold ticks.
PeckShieldAlert monitored the scammers’ wallet movements and discovered that they moved more than 68 ETH to the FixedFloat exchange. The amount equates to over $129,000 in ETH at the time of writing.
Memecoin season
While the crypto community’s thoughts on memecoins may differ, recent data has shown that they are, in fact, quite resilient. a CryptoSlate April insight stated that memecoins:
“Continue to defy expectations by thriving in the bear market, outperforming other cryptocurrencies and expanding their usefulness, attracting private investors and newcomers to the crypto world.”
Popular memecoins such as Dogecoin (DOGE) and Shiba Inu (SHIB) have proven to be quite profitable in the past. While their volatility has gone mainstream, other memecoins have been surprise investors lately.
Most recently, memecoin PEPE (PEPE) caught the attention of the crypto community when it surged more than 90% in 24 hours on May 1. At the time of writing, PEPE continues its rise. The token registered an increase of 59.38% in the past 24 hours and an increase of almost 700% in the past seven days.
A few days later, the Turbo memecoin, created by ChatGPT, reached a market cap of over $30 million within a week of its launch. Several crypto exchanges have also listed Turbo tokens as a tradable asset.
According to CryptoSlate data, the memecoin market has an industry dominance of 1.49% with a market cap of over $17 billion. The sector’s 24-hour volume exceeds $1.49 billion.
The Sudden Collapse of the Post Yoda Coin: How Investors Lost Over $129,000 in Ethereum to a Carpet Pulling Scam first appeared on CryptoSlate.
