Bitcoin fell below $89,000 as Nasdaq futures signaled further tech losses and a strong yen raised concerns of risk aversion similar to August 2024.
A token tied to a fake Sam Bankman-Fried account became the rug-pull of the day.
The scam started with the account “Comune Guardiagrele,” a small Italian city with a verified grey checkmark indicating it’s an official government or organization account, based on web results on identity verification.
Scammers probably hijacked or bought the account and changed the name to “@SBF_Doge" mimicking Sam Bankman-Fried (SBF), the disgraced crypto mogul jailed for the FTX fraud.
The account then launched a memecoin, likely tricking unsuspecting traders or bots into thinking it was legitimate due to the verification badge.
The memecoin’s market capitalization rose to $10 million before its creators pulled liquidity, crashing it to a $100,000 capitalization and pocketing fees and proceeds gained from the sale.
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