Memecoins
The creator of Meme Coin said he had no hands, so he couldn’t carpet: he lied
A man who claims to have no hands has started a live stream on Twitch encouraging cryptocurrency users to invest in his Solana meme coin last weekend, because without hands, so he claimed, he wasn’t capable carpet pulling project and deposit with the proceeds.
“I have no hands, I can’t touch you, guys, relax,” the developer’s Twitch channel, No hands, no carpethe proclaimed heavily.
Can you guess what happened just three minutes into the stream?
According to several participants in the live streaming, which took place on Sunday, the coin, HANDS, began to accumulate liquidity. That is, until the coin’s apparent creator, standing in a bedroom with a sign under his chin, revealed that he actually had his arms hidden behind his back, before running to the computer and immediately using his new hands and fingers to extract liquidity from the market. project.
The exploit, which took about three seconds to execute, immediately drained all liquidity from the token, leaving holders, sorry, empty-handed.
This isn’t the first time a nefarious cryptocurrency user has taken advantage of live streams to drum up excitement for a new meme coin. Last week, a mom performed sexually suggestive acts during her supposed son’s livestream to pump her meme coin, LIVEMOMbefore the duo appeared to cover the token.
This week’s least graphic sleight of hand may not have caught all viewers by surprise. Just before the live stream began, one crypto user asked the extremely right question: “How was the token distributed then?”
“Dick,” another user replied.
In total, the NoHands developer earned around 7 SOL, which was worth just over $1,000 at the time.
But in cryptocurrencies, one degen’s trash can always become another’s treasure. After a clip of the dastardly developer’s hand reveal started circulating on Twitter (aka X), it quickly gained attention.
Within a day, a group of four anonymous friends reported it Decipher who initiated a community takeover of HANDS, confident that it had achieved enough notoriety as a meme to potentially become a meme coin with real staying power. They say they do not hold a substantial amount of the token, but have focused their efforts on expanding NoHandsNoRug’s social media presence.
On Monday they opened a Twitter account and Telegram account for the token; other community members are already building a website. Since Monday, the token has seen trading volume of around $552,000; today it has fallen to a market cap of around $16,000.
The supposed new leadership of HANDS says they are taking measures to prevent the token from being weakened by burning its liquidity. Second DexScreenerHowever, an anonymous cryptocurrency trader currently holds about a third of the entire token supply. To be clear, meme coins like HANDS can easily be withdrawn by large holders, assuming they can find liquidity to trade.
said Wusi, a pseudonymous crypto user who purchased HANDS during the developer’s initial livestream Decipher they lost 1 SOL when the token was sturdy.
They have since reinvested 2 SOL into the project.