- A Solana investor in poverty has created a new wallet to purchase MBAPPE coins.
- The Solana trader’s investment went from $1 million to less than $10,000 in just a matter of minutes.
- 2024 saw a series of celebrity cryptocurrency lawsuits, most of which were related to hacks.
A cryptocurrency investor has had to say goodbye to his $1 million investment after purchasing a fake meme coin called $MBAPPE. The spontaneous decision to purchase Kylian Mbappé tokens came after scammers promoted the Solana meme coin, named after the famous French soccer player.
Another celebrity meme coin bites the dust
MBAPPE, created by Pump.Fun, received support from the official Kylian Mbappé X account, which was hacked late Thursday night. Tweets promoting the token included a smart contract address, the coin’s ticker symbol, and an image of the soccer star as a ninja turtle. One of the hacker’s tweets concluded, “After all, I look like Donatello.”
What happened next shocked many crypto enthusiasts who believed that the $MBAPPE coin was a legitimate celebrity coin. Within minutes of its launch, the fake cryptocurrency received a bad rap. For the uninitiated, the bad rap is done by removing most of the liquidity of the cryptocurrency, causing a significant drop in the market value of the coin.
Investors request refunds from Embape
The unlucky meme trader bought 93 million MBAPPE tokens at $1.03 million and 7,156 Solana (SOL) at $0.0111. The tokens printed a huge red candle within minutes, leaving only $92,000 of the initial $1.03 million investment.
Investors have asked about the possibility of a refund. “@KMbappe what is a refund???,” I asked President Push, a self-proclaimed alpha caller and ****coin maxi with over 15,000 followers on X.
Shortly after the incident, Mbappé’s Twitter account was deleting the hacker’s tweets. The soccer star himself has not commented on the hack. Celebrity Meme Coins Rug Pull Pandemic has been hit by numerous hacks since June, mainly targeting fans of the musician.
On the other side
- In 2021, Kylian Mbappe took legal action against scammers who tried to obtain funds using his name through various cryptocurrency-related online advertisements.
- Chinese blockchain journalist Colin Wu reported that another Solana trader made a profit of $200,000 by selling at the all-time high using 2 SOL.
Why this matters
In 2024, online scammers frequently used the tactic of impersonating celebrities to lure cryptocurrency enthusiasts into purchasing counterfeit coins.
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