MonkeyPoxInu Scam: Developers Allegedly Run Away With $400 Million In Just 3 Days
Amid the Monkeypox virus' recent resurgence, someone created a cryptocurrency token coin named MonkeyPoxlnu (MPOX) last week. And just 3 days after launch, the developers have reportedly run away with $400 million.
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.
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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.
BREAKING: 'MonkeyPoxInu' Coin has tanked -99% after devs get away with over $400+ million in exit scam.#MonkeyPox #Crypto #Bitcoin pic.twitter.com/IYseq50DYG
¡ª CryptoWhale (@CryptoWhale) May 23, 2022
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.
I just lost $107,000 on this. my wife and I'd entire life savings gone. I'm currently sobbing waiting for her to come home???. I quit everything for MonkeyPoxInu. My hobbies friends old job all gone, now so is my money. I have no idea what to do and Im unsure what to tell her
¡ª Barry Bonds Fan Club (@barrybclub) May 24, 2022
I just lost $200k on this!! Me and my husbands entire life savings are gone. I'm currently sobbing waiting for him to come home?I sold everything for MonkeyPoxInu. I have no idea what to do and Im unsure what to tell him when he comes home.
¡ª matthew ? (@SanguineFate) May 24, 2022
I just lost $200k on this!! Me and my husbands entire life savings are gone. I'm currently sobbing waiting for him to come home?I sold everything for MonkeyPoxInu. I have no idea what to do and Im unsure what to tell him when he comes home.
¡ª matthew ? (@SanguineFate) May 24, 2022Also Read: Co-Creator Of Elon Musk's Favorite Dogecoin Calls 95% of All Crypto Projects 'Scam and Garbage'
Is The Scam Really $400 Million?
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.¡±
How Twitterati Is Reacting To The MonkeyPoxInu Scam
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.
That literally happened, there was a coin called PonziCoin and the white paper said "This is a scam, we are going to steal your money" and people still invested
¡ª Charles (@Mr_Indigo) May 23, 2022
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.
If you purchased a coin called ¡°monkeypoxinu¡± you deserve to lose it all sorry. #CryptoNews #Monkeypoxalypse #MonkeypoxVirus #WLUNA #AVAX https://t.co/QlKSUmzj6g
¡ª MohFit Tech Trades (@MohFit7) May 23, 2022
no, someone did not just make off with 400 million dollars of real money by inventing a fake coin called "MonkeyPoxInu". we've reached the level of cryptohell where even the *scams* are scams https://t.co/tsFyDfAKjF
¡ª Stuart P. Bentley (@stuartpb) May 24, 2022
WHY WOULD YOU BUY A COIN CALLED MONKEYPOXINU? https://t.co/mBj29FPRNi
¡ª Tarnished¡¸Brian¡¹??? (@_Briaaaaaaaaaan) May 23, 2022
I feel like if you invested in a crypto called "MonkeyPoxInu" Coin, you were just begging to get scammed ? https://t.co/A4PalftXNp
¡ª Remz ?? (@RemzTheAwesome) May 24, 2022
People really put 400m into MonkeyPoxInu!?!? Cmon!!! Bring on the regulations now please!!! Lmao
¡ª Ken (@Kennymath21) May 23, 2022
imagine losing your life savings because you thought investing in something called MonkeypoxInu Coin was a safe bet.
¡ª Maxitrillion Pegasus (@cannonballsaber) May 23, 2022
I swear to God man how is it this easy to make people suckers, theres no way people are this dumb. https://t.co/pEw8JJTTYF
Another Twitter user said he couldn't believe this happened to a community as strong and real as MonkeyPoxInu.
I can't believe this could happen to a community as strong and real as MonkeyPoxInu https://t.co/AK0IV75y8E
¡ª Ryan Broderick (@broderick) May 23, 2022
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?
Also Read: 24YO Woman Loses $300,000 Inheritance Money After Falling For A Crypto Romance Scam On A Dating App
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