Crypto influencer MrPunk.eth launched $GANG, cashed out $10M, and mocked investors. Allegations of a pump-and-dump scam fuel controversy.
The $GANG token, launched by crypto influencer MrPunk.eth, quickly went from soaring to crashing 98%. It all started with MrPunk.eth using his massive social media reach to hype the coin. However, after a brief surge, the token plummeted, and accusations started flying.
The famous crypto investigator @freakyfawi accused MrPunk.eth of selling $1.3 million in $GANG tokens within two minutes of tweeting about it, cashing out a total of $10 million weeks later. Of course, immediate rumors of a classic “pump and dump” surfaced, with prices suddenly spiking only to fall just as quickly and leaving most investors with extraordinary losses.
GoFundMeme, the company behind $GANG, took to its defense, stating that MrPunk.eth had used special features to avoid snipers and that the team wasn’t involved in buying tokens. Yet some users weren’t buying it, accusing GoFundMeme of being in on the scam.
Meanwhile, MrPunk.eth snubbed his followers’ concerns, even to the point of making fun of those who lost money by calling them “broke losers.” As the drama unfolds, @freakyfawi unveiled MrPunk.eth’s real identity as Rajinder Pathani. In any case, it was either market manipulation or a rug pull; the crypto community was abuzz with debate.
Also Read: Coinbase Bets Big on Solana & Hedera Futures – Here’s What’s Coming
