WallStreetBets subreddit-related meme coin WSB plummeted 90% after member zjzWSB offered a big portion of tokens for 334 ETH value $635k, triggering a mass selloff.
The crypto neighborhood is shocked as WSB crew rug pulled their very own venture after combating towards Wall Street Baby for a number of days.
WallStreetBets Rug Pulled WSB Project
On-chain sleuth ZachXBT in a tweet on May 4 revealed that zjzWSB dumped almost 7 billion WSB tokens for 334 ETH ($635k). He reached out to hunt clarification on one other multisig signer for the 6.86 billion WSB transaction and located that zjzWSB created the transaction and mod OIP executed the sale. It is confirmed that zjzWSB and OIB are totally different individuals.
Another day one other meme coin rug this time involving ZJZ.eth from @wsbcoinofficial who immediately dumped a big portion of the WSB crew provide for $635k (334 ETH)
In Nov 2022 he messaged me
“I guess we should have been greedy amoral bastards instead ????” pic.twitter.com/b9mfrZv0CD
— ZachXBT (@zachxbt) May 4, 2023
The tweets from zjzWSB revealed an inner spat between the WallStreetBets mods as he stated WSBMod and WSB Ash don’t even belong to the favored subreddit WallStreetBets.
“I’ve had my issues with wsbmod but I see no reason to let bootleg shitcoins use our name unchallenged.”
PeckShieldAlert reported that one other pockets that acquired 46.7 million WSB from zjzWSB additionally dumped the tokens for 8.312 ETH.
As a results of mass dumping, WSB value fell 90% and the value is at present buying and selling at $0.000066 from a 24-high of $0.000535. WSB members have been just lately speaking about taking on the PEPE coin hype with its meme coin WSB and different tokens claiming to be associated to WallStreetBets are rug pulls.
Meanwhile, WSBMod gave zjzWSB a 4-hour deadline to contact him. He claims to file police and FBI report if zjzWSB fails to contact him. He stays hopeful in regards to the return of funds to the treasury.
i assumed bc they have been doxed, prime mods of one of many largest subreddit, and placing their very own reputations as mods and the subreddit’s popularity on the road that there was no threat of them doing something like this
that was an enormous mistake. i bought scammed and so they deserve jail time.
— WSBMod (@wsbmod) May 4, 2023
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