Amid the recent resurgence of the Monkeypox virus, someone created a cryptocurrency token coin named? MonkeyPoxlnu (MPOX) last week. It was launched on May 21 and reportedly listed on the decentralized exchange (DEX) PancakeSwap by the creator.?
Soon after listing, the cryptocurrency started gaining traction and reached a significant market cap in the past few days.
The MPOX coin was launched on May 21 but lost 99% of its value three days later on May 23rd, as per Cryptoslate.
This has happened after the developers of the MonkeyPoxInu cryptocurrency have allegedly run off with investors' money in another rug pull crypto scam.
It is noteworthy that the crypto coin MonkeyPoxInu is so new that it is not even included in the lists of popular cryptocurrency statistics sites like CoinMarketCap and CoinGecko yet. It is a BEP-20 type token and was only listed on PancakeSwap, as per a report in BusinessToday.??
A tweet by CryptoWhale states that the developers have vanished with more than $400 million.
Replying to this, a Twitter user?allegedly claimed to have lost $107,000 in the scam. Another user claimed to have lost entire life savings of $200k.?
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Some community members have reportedly questioned the amount which the developers allegedly stole. They reasoned that $400 million was too much of an investment for an unknown three-day-old coin, as per the Cryptoslate report.
Even as per the Financial Times article stated in the report, MonkeyPoxInu had 13 holders and 90 subscribers on its Telegram channel. The article stated, ¡°It would be absurd to believe that the developers got away with $400m+ by any means other than washing it up to that level first.¡±
As soon as the scam was discovered, Twitter users were quick to react to the alleged scam,
One user sarcastically gave the PonziCoin example insinuating that some people never learn.
Some other Twitter users were angry with the people who actually invested in the new crypto coin MonkeyPoxInu hinting that they deserved to lose it.
??Another Twitter user said he couldn't believe this happened to a community as strong and real as MonkeyPoxInu.
Now, it remains to be seen whether this MonkeyPoxInu Scam was actually as big as $400 million, and if yes, then what happens to the investors¡¯ money which the developers have run away with?
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