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WSBCoin Experiences Rug Pull As zjz.eth Dumps Team Supply for $635K

Cointime Official

May 4 (Cointime) - ZachXBT reported on Twitter that another meme coin, WSBCoin, had fallen victim to a rug pull. The token was associated with the WallStreetBets community, and the rug pull was reportedly executed by a member of the WSBCoin team, zjz.eth. The member dumped a significant portion of the team's supply for $635k (334 ETH), resulting in an 86% drop in WSBCoin's value.

  PeckShield, a blockchain security firm, confirmed that the wallet associated with zjz.eth was responsible for the sell-off.  The wallet reportedly sold a large portion of WSB for 334 ETH, equivalent to $635,000. Another wallet that received 46.7 million WSB from zjz.eth also appears to have sold off for 8.312 ETH.

The transactions can be viewed at https://etherscan.io/token/0x0414d8c87b271266a5864329fb4932bbe19c0c49?a=0x0ae042d2e5826bfbde038163366f2ae372fe7894. 

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