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Home > News
Published: 19/03/2024
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Author: Leexim
Slerf Apologizes to Users After Accidentally Burning $10 Million
The Solana-based memecoin project, Slerf, left investors shocked after a mistake resulted in the deletion of all liquidity provider (LP) and airdrop tokens.
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The memecoin project on the Solana platform, Slerf, surprised investors after a mistake led to the deletion of all liquidity provision (LP) and giveaway tokens. Unable to create new tokens due to loss of authority, investors now face a difficult reality: their investment is gone.
An Expensive Mistake
Imagine you collected over $10 million and 50,000 SOL, promised big dreams, and then — poof — it all disappeared in a cloud of smoke. Investors who quickly bought into the presale, hoping for big profits, now find themselves empty-handed, with no tokens to justify their investment and no SOL refund in sight eye.
A tweet from Slerf reveals all in a painful confession. Trying to clean some unwanted tokens with a tool, the person behind the operation accidentally wiped out valuable tokens.
“I’m sorry… this is the biggest deal, and I just lost my words,” they confessed. A new pre-sale period is proposed, offering refunds to those willing to invest again. But many people are wary of risking more money.
Emotion
The seriousness of the situation was reflected in how the team responded in a Twitter Space chat. Emotions ran high, and the price of SLERF suddenly increased by 322%. In the community, people are confused, hoping things will get better, and a little nervous about the idea of raising the value of the token to a billion dollars.
Related: Investor Loses $147,000 Playing Memecoins on Solana
Solana Continues to Grow Strong
Despite Slerf’s crisis, the broader Solana ecosystem appears to be going strong, with a notable spike in market activity and interest in its other memecoin projects. SOL’s recent performance has been impressive, surpassing BNB to become the fourth most expensive cryptocurrency and achieving a large transaction volume surpassing Ethereum and other EVM-based Layer 2 solutions.
This resurgence is fueled by the popularity of memecoin projects like BONK, demonstrating the strong connection between these tokens and their networks. Solana remains a hub for innovation and investment, despite setbacks like Slerf’s.
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News | Bitcoin | Editor Choice 19/03/2024
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Home > News
Published: 19/03/2024
-
Author: Leexim
Binance Enhances Customer Screening in the United States
According to Bloomberg, Binance has urged leading brokers to enhance customer screening to ensure they do not serve customers in the United States.
Azcnews (2)
Global cryptocurrency exchange Binance has asked leading brokers such as FalconX and Hidden Road to improve their customer vetting processes to prevent Americans from trading on the platform.
According to the report, since brokers primarily serve institutional investors, information needed from customers includes the geographical location of their offices, founders, and employees. They also require customers to provide authentic information to ensure accuracy.
Binance’s situation after CZ pleaded guilty
The report said that since Binance was accused in November, the cryptocurrency exchange has asked top brokers to increase information about their customers.
Binance after pleading guilty and admitting to violating the Bank Secrecy Act last year. The United States Department of Justice announced a settlement with Binance over charges related to money laundering, fraud, and sanctions violations, resulting in the exchange paying a $4.3 billion fine.
Changpeng Zhao
Changpeng Zhao
Changpeng Zhao turned Binance, the company he founded and runs as CEO, into the world’s largest cryptocurrency exchange by targeting the US market, but declined comply with the laws of the United States,” Acting Assistant Attorney General Nicole M. Argentieri of the DOJ’s criminal division said in a statement last November.
Binance’s US branch faced a lawsuit from the Securities and Exchange Commission last June, along with Binance and Zhao, claiming it had to cut its staff by more than two-thirds after revenue fell 75% following enforcement measures.
Related: Former Binance CEO CZ Announces Upcoming Plans
However, the global exchange appears to have grown stronger since Zhao’s guilty plea and subsequent resignation, as the total value of assets under management has increased from $67 billion to $112.5 billion. USD since November, according to data from DefiLlama. This may be because the value of bitcoin has seen record increases over the past few months.
Binance remains the world’s largest cryptocurrency exchange in terms of trading volume, according to data from CoinMarketCap.
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Malik Sohail jahnbaz
19/03/2024 at 4:25 am
Z Coin 🪙 it’s amazing Coin
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News | Bitcoin | Editor Choice 19/03/2024
Bitcoin Sends Shockwaves as It Drops to $8900 on BitMEX Exchange
An unidentified entity unloaded over 400 Bitcoins in a short period on the spot market BitMEX BTC-USDT, prompting BitMEX to initiate an internal investigation.
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News | Altcoin | Editor Choice 19/03/2024
Slerf Apologizes to Users After Accidentally Burning $10 Million
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