What Are the Key Lessons to Learn from $GREED 2.0?
The social experiment called $GREED began in 2023, tricking crypto traders hoping to make a quick buck by asking them to tweet embarrassing things in X. It was essentially a lesson in common sense masquerading as a money-making opportunity. But this lesson didn’t last very long. Less than a year later, the avarice of memecoin speculators drove them to once again sacrifice sound judgment in favor of unrealistic rewards. On-chain detective ZackXBT claims that pre-sale scammers who pitched unique meme coins earlier this year took $122 million from hopeful fast-money earners.
Voshy, the creator of $GREED, however, chose to rerun his social experiment with a modification. Last time, he tricked them into giving him access to their X accounts so he could disgrace them by tweeting about how much their own greed had cost them. This nonexistent $GREED token made a mockery of its victims without costing them any money. Similar to the previous time, there would be no token involved and no cost for participants in $GREED. It would instead serve as bait for an unexpectedly profitable staking freeze. Unaware that they were protected against presale predators, $GREED members would lock their own SOL in a staking account.
The Mystery Behind the $GREED Airdrop: Voshy’s Campaign Raises SOL Stake Worth $1 Million
Voshy began phase two of $GREED by retweeting ambiguous statements about what appeared to be an impending GREED token airdrop. It became popular. Similar to 2023, cryptocurrency traders began to fish for a token that they did not know of. Voshy quickly raised the stakes by launching a website that could connect to wallets. It seems as though people may finally pledge their SOL to GREED. But for what reason is not clear. There was no mention of a presale on the website. It didn’t specify what it was for or what the recipients would receive. Specifics were irrelevant because in the first hour, 6,220 SOL, or almost $1 million, were pledged by 1,527 wallets.
- People who locked their money in $GREED are not entirely trapped.
- By drafting a governance proposal and persuading fifteen other $GREED members to vote in favor of the release of their assets, they can withdraw their tokens.
Voshy’s attempt deviated from the shady cryptocurrency presales at that point. Voshy’s website had pushed users to stake their SOL tokens to a Solana validator rather than accept money in exchange for a token (or for nothing, as scammers do). They locked their tokens to this validator when they signed the transaction, and they remained locked until mid-September, six months later.
Locking it for three days, nobody would care. We wanted the people to notice, we wanted the people to feel something, to remember it just like last $GREED,
Voshy
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