• The WSB token launched by WallStreetBets has lost 90% of its value following dumps by insiders.
• Users on Twitter have alleged a rug pull perpetrated by the memecoin’s developers.
• WallStreetBets on Twitter has claimed that he was scammed by the co-creators of the WSB token.

The WSB token affiliated with the popular finance subreddit WallStreetBets has tanked more than 90% amid allegations of a rug pull after insiders dumped several hundred thousand worth of WallStreetBets tokens over the past 24 hours.

The official Twitter handle of the WSB Coin revealed earlier today that it had made mistakes in the wallet that controlled the WallStreetBets token’s treasury holdings. The treasury multisig was allegedly used to move funds and sell a considerable amount of WSB tokens. The team has since been buying back the sold tokens to make the treasury whole again.

On-chain sleuth ZachXBT took to Twitter earlier today to report that an insider from the WSB project who goes by zjz.eth on Twitter, had dumped a large portion of the WSB token’s team supply for 334 ETH ($635,000). When the sleuth reached out to the WallStreetBets team, he was told that the transaction i…

The post WallStreetBets’ WSB Token Tanks 90% Amid Rug Pull Allegations appeared first on Coin Edition.

• The WSB token launched by WallStreetBets has lost 90% of its value following dumps by insiders.
• Users on Twitter have alleged a rug pull perpetrated by the memecoin’s developers.
• WallStreetBets on Twitter has claimed that he was scammed by the co-creators of the WSB token.

The WSB token affiliated with the popular finance subreddit WallStreetBets has tanked more than 90% amid allegations of a rug pull after insiders dumped several hundred thousand worth of WallStreetBets tokens over the past 24 hours.

The official Twitter handle of the WSB Coin revealed earlier today that it had made mistakes in the wallet that controlled the WallStreetBets token’s treasury holdings. The treasury multisig was allegedly used to move funds and sell a considerable amount of WSB tokens. The team has since been buying back the sold tokens to make the treasury whole again.

On-chain sleuth ZachXBT took to Twitter earlier today to report that an insider from the WSB project who goes by zjz.eth on Twitter, had dumped a large portion of the WSB token’s team supply for 334 ETH ($635,000). When the sleuth reached out to the WallStreetBets team, he was told that the transaction i…

The post WallStreetBets’ WSB Token Tanks 90% Amid Rug Pull Allegations appeared first on Coin Edition.