Crypto Entrepreneur Mario Nawfal Faces Allegations of Orchestrating a Meme Coin Rug Pull

The controversy erupted after Nawfal's X account, @RoundtableSpace, posted about a supposed partnership with Ross to launch a Solana-based token, ROSS.

Crypto entrepreneur Mario Nawfal is facing allegations of orchestrating a meme coin rug pull with prominent streamer Adin Ross.

The controversy unfolded after Nawfal’s X account, @RoundtableSpace, announced a partnership with Ross for a Solana-based token, ROSS. The post was later deleted, sparking suspicions of fraudulent activity.

On Tuesday, @RoundtableSpace shared the launch of ROSS, claiming that Adin Ross was backing the project. The tweet included a contract address, seemingly legitimizing the meme coin. However, within 20 minutes, the post was deleted, immediately triggering skepticism within the crypto community.

X (Twitter) user @cryptolyxe flagged the incident, accusing Nawfal of faking a partnership with Ross to drive up the token’s value. Cryptolyxe shared screenshots showing the original tweet and a price chart, highlighting an 82.72% price crash, indicating a rug pull.

According to cryptolyxe, the token’s market cap reached $7 million before plummeting to zero.

“So Mario Nawfal just posted a fake ‘partnership’ with Adin Ross for a memecoin, then rugs the coin from $7m to 0, and deletes all the tweets… bruh,” cryptolyxe stated.

Following the accusations, @RoundtableSpace issued a series of statements denying any wrongdoing. They explained that an unauthorized individual from their team, @hardsnipe, posted about the token without approval.

Nawfal’s team asserted that they acted quickly to delete the post and clarified that no official partnership with Adin Ross existed. Later, Nawfal claimed that his account had been compromised.

“Someone got access to both this account and Crypto Town Hall and posted a fake CA yesterday and today,” Nawfal stated.

He further explained that once the breach was discovered, delegate access was revoked and passwords were changed to prevent further unauthorized posts.

Despite Nawfal’s explanations, many in the crypto community remain unconvinced. Several users, including @nftkeano, pointed to Nawfal’s history of promoting dubious crypto projects, fueling doubts about whether this was an accident or a deliberate scam.

“This is literally your 3rd rug this month…,” Keano noted.

Adding to the controversy, Adin Ross’s team denied any involvement with the token. Chat logs suggest internal confusion regarding Ross’s participation, reinforcing the claim that the partnership never materialized.

While Nawfal’s team maintains the ROSS meme coin post was a mistake, the crypto community is skeptical. The rapid deletion of the tweet and the sudden collapse of the token’s value raise questions.

Moreover, Nawfal’s past controversies do not bode well for his case, leaving many questioning the true nature of this event. Whether this was a genuine blunder or an intentional scam, the incident reflects the ongoing risks in the crypto arena.

Three weeks ago, rumors circulated about the sale of Kanye West’s X account. The new owners used it to promote the Barkmeta meme coin, sparking fears of a meme coin rug pull.

The incident raised questions about celebrity involvement in crypto scams. Meanwhile, Barstool Sports founder Dave Portnoy faced backlash over accusations that he orchestrated a GREED rug pull. After promoting the coin, Portnoy allegedly sold off a large portion of his holdings, leading to a price collapse that left investors at a loss.

Additionally, reports indicate that insiders behind the LIBRA meme coin have been linked to other controversial projects, including the MELANIA coin, which also faced rug pull allegations. The growing trend of rug pulls highlights the risks investors face when buying tokens associated with high-profile figures or influencers.