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Monday, July 1, 2024
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HomeFinanceElon Musk AI undertaking impressed memecoin ‘Grok’ falls 74% on creator rip-off...
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Elon Musk AI undertaking impressed memecoin ‘Grok’ falls 74% on creator rip-off declare

The worth of a memecoin drawing its namesake from Elon Musk’s synthetic intelligence undertaking “Grok” plummeted over 70% after blockchain sleuth ZachXBT alleged the token’s social media account was recycled from a rip-off token undertaking.

In a Nov. 13 X (previously Twitter) put up, ZachXBT shared screenshots exhibiting numerous social media accounts and web sites tied to the Grok (GROK) token have been repurposed from previous initiatives — together with an deserted memecoin undertaking referred to as ANDY — which has considerably declined from its all-time excessive.

GROK’s value plunged greater than 70% in 5 hours following ZachXBT’s allegations. Supply: DexTools
The Grok developer burned 90 million GROK tokens after the token’s value plummeted. Supply: Etherscan

Proceed Studying on Cointelegraph

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