Crypto News – The $850 million airdrop event from cross-chain bridging platform Wormhole, which unveiled its native governance W (W) token on Thursday, has drawn a large number of cryptocurrency scammers, hackers, and memecoiners.
Wormhole Airdrop Reveals Scammers and Parody Meme Coins
On April 3, the W token officially debuted on the Solana-based decentralized exchange (DEX) OpenBook, commanding a market value of $2.98 billion at launch, with a price of $1.66. Independent blockchain investigator ZachXBT reported on April 3rd on X that a large number of plausible fraud accounts, many of which had gold checkmarks, had targeted Wormhole’s official post announcing the airdrop.
Warmhole Parody Meme Coin Rises Incredibly
Opportunistic memecoin producers were aware of the airdrop event, as evidenced by the introduction of a parody token named “Warmhole” just after it was announced. With a market worth of roughly $100,000 at inception, the Warmhole memecoin quickly surged to a high value of $8.3 million, or an approximate 83,000% gain in less than six hours. A user made fun of the fact that beneficiaries of the Wormhole airdrop would have become billionaires if they had instantly exchanged their new W tokens for the Warmhole memecoin.
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