Dogechain Developer Wallet Was Found To Be Dumping 1 Million DC Tokens Per Minute
Dogechain launched DC tokens on August 24 via airdrop to eligible wallets. Eligibility criteria are any Dogechain wallet that interacted with the protocol before August 23. This requires adding Dogecoin liquidity (DOGE) to the protocol.
Reddit user u/evelynvee posted that the developer wallet mentioned by @ZachXBT is dumping 20 billion tokens received from the airdrop at a peak of 1 million tokens a minute.
According to u/evelynvee, DC token holders generally cannot dump their tokens because there is a fee of 8 million DC tokens to connect to the Ethereum chain, plus a minimum transfer of 9 million DC tokens ($16,000).
The official Dogechain Twitter page did not respond to requests for comment at the time of writing.
Dogecoin Foundation board member Jens Wiechers warned that Dogechain is not a related product and is disseminating false information to the contrary. Similarly, Dogecoin developer @cb_doge said it is “another fake token” and warned DOGE holders not to risk their meme-coins.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…
With the platform facing a cracked whip, Trump Media company is expanding into new business…
Major crypto firms, including Ripple, Kraken, and Circle, are competing for spots on President-elect Donald…
Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…
SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with President-elect Donald…
The MicroStrategy convertible notes offering, initially set at $1.75 billion, was increased to $2.6 billion…
This website uses cookies.
