A project called “Encryption AI” promised a Telegram bot that would provide a “secure and efficient way to launch tokens”. People poured in around $2 million before the developer suddenly withdrew all the funds, crashing the token price by 99%.The developer reportedly posted a message to Telegram, apologizing for taking the funds. “I must confess that I have fallen into a severe addiction to online gambling and casinos,” the developer reportedly wrote. “Despite being only 22 years old, I have struggled to overcome this addiction, and unfortunately, I have lost nearly $300,000 over the past few months, including after the launch of [Encryption AI].“They added, “Although I cannot guarantee when or if I will be able to make amends and relaunch [Encryption AI], I promise that I will make every effort to become a better person.” Oh, well, in that case.

Total loss estimated at $2,000,000.