The Downfall of Slerf: Accidental Token Loss Results in $10 Million Evaporated
Monday, 18 March 2024, 13:30
The Slerf Meme Coin Disaster
The Slerf meme coin project on Solana faced a devastating loss of over $10 million due to an unintended destruction of all its tokens. The project had no recourse to mint new tokens or secure refunds.
Meme Coins Raise $100 Million in Presales
Despite the financial catastrophe, Slerf’s token price soared by 745%. A trader capitalized on this volatility, earning over $3 million in just 12 minutes. However, the incident has drawn criticism from the crypto community for the management oversight and investor gullibility.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.