The cryptocurrency industry is known for its volatility, and meme coins are no exception. The recent huge success of meme coins such as Dogecoin ($DOGE), Shiba Inu ($SHIB) and PEPE ($PEPE) have attracted the attention of traders and investors worldwide. These coins have proven to be quite profitable investments resulting in quick returns.

Unfortunately, this illustrates the downside of investing in cryptocurrency; scams and rugs. Popular meme coin YodaCoin ($YODA) from $ETH was incredibly rug pulled resulting in losses for many investors. The scammer transferred approximately 68 $ETH ($132K) to FixedFloat.

It has been suggested that the scammer used mutant apes in gold checkmark-bearing bots accounts to impersonate influencers and lure in potentially unsuspecting victims.

The lesson to be learnt from this rug is that it’s important to carefully consider your investment decisions and to engage with reputable entities when investing in cryptocurrency. Furthermore, there are always risks involved in any investment, so it is wise to be aware of these potential issues before engaging in any investments. It is also important to remember that these volatile currencies have a high potential for profit but also a high potential for losses; as highlighted by the YodaCoin scandal.



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