A project describing itself as “The world’s first memecoin pre-announced as a rugpull” was explicit in its marketing: “do not buy this coin, as it will go to zero.“Despite that, people sent the creator over 8.8 ETH (almost $29,000) for the project’s “pre-sale”, even as they repeated on Twitter that the project was a scam and that no one should buy it.

Total loss estimated at $28,878.