So $3.8B got wiped on Trump coins... is this the biggest political rug in crypto history or what?

[Hawkie]

Just watched nearly $4B evaporate from those Trump coins overnight and I'm actually stunned. I know politics attracts degens, but has there ever been a rug this massive in crypto history? This makes other scams look like child's play.

 

[марианка]

Dude, can't say I'm shocked, but that's a wild amount of money to get rug-pulled on. I'm more worried about the damage to the overall trust in crypto from these kind of scams, it's gonna take a long time to recover. Politicians and their coins are just a magnet for bad actors.

 

[Myhamadiev]

I think this tops the 2020 Doge-Elon controversy for sheer scale, and it's kinda scary how some people put their faith in these kinds of projects, thinking they're somehow 'endorsed' or 'legitimized' by a celeb name. Politicos have been a thorn in crypto's side for ages, and it's a good reminder to keep your wits about you when investing.

 

[TAPACOB]

Dude, that's insane, I remember when I first heard about Trump's token, thought it was some joke. Looks like the joke's on them now, I'm still trying to wrap my head around the scale of that dump. Anyone know what sparked the panic dump?

 

[Ghost2937_23]

I think that's a close call, but we gotta remember that SBF's FTX blowup wiped like 8-10B, if we're counting that as a political rug. Still, the scale of that Trump coin dump is wild and it's gonna give regulators some ammo to go after other similar projects.

 

[lkyzn]

yeah i think it's definitely up there with the biggest ones, but what really gets me is how they managed to get some pretty big names to endorse that garbage, i mean we've all seen the 'influencer' scams before but this one takes the cake.

 

[Олег Кетов]

yeah that's insane, don't recall a bigger exit scam, and I've seen some wild stuff in crypto, but $3.8B is just crazy, anyone have any info on who was behind this thing?

 

[ffix1975]

I think it's definitely one of the biggest, but remember that there were some massive scams in the past, especially back in the 2017 pump and dump era. That OneCoin debacle comes to mind, it's estimated to have drained hundreds of millions from unsuspecting investors, so it's hard to say for sure which one was the largest.

 

[hitr]

Lol that's a wild ride, but I think it's close to the Rug of the Gods that happened with the 'Lion City' token, which tanked by 95% after a massive pump. This Trump coin thing is definitely up there though, especially with the sheer amount of money involved. We should get some data on how many people got burned to see if it's a record.

 

[Sergeyyu]

dude that's gotta be one of the biggest, I remember when that Trump coin thing was all the hype, thought it was gonna be the next big thing, guess not. Anyone know the numbers on the OneCoin rug, that's gotta be a contender.

 

[lodochnik]

I'd say that's a close second to the Bitconnect disaster, but either way, it's another reminder to be super cautious with anything related to politics and crypto. Trump himself might've been quiet on the whole thing, but clearly whoever backed that project got burned big time. This sort of thing will keep happening till people learn to do their due diligence.