tldrdailynews.com logo

Eric Adams’ NYC Token crashes as $2.5M liquidity drained in alleged rug pull

1 min read
Source: The Verge
Eric Adams’ NYC Token crashes as $2.5M liquidity drained in alleged rug pull
Photo: The Verge
TL;DR

The NYC Token, backed by former NYC Mayor Eric Adams, peaked near a $580 million market cap but collapsed to about $130 million after a suspected rug pull; blockchain analytics flagged suspicious activity and a deployer wallet withdrew roughly $2.5 million in liquidity at the peak, with some funds not returned.

Topics:businesscrypto#crypto#crypto-scam#cryptocurrency#eric-adams#nyc-token#rug-pull
Share this article
  1. Former NYC Mayor Eric Adams accused of $2.5 million crypto ‘rug pull’ as his NYC Token crashes  The Verge
  2. Pitching Crypto and Needling Mamdani: Adams’s Post-Mayoralty Takes Shape  The New York Times
  3. Eric Adams’ next act is exactly what you thought it might be  Politico
  4. Investors cry foul over former NYC Mayor Eric Adams’s crypto launch: ‘Such an obvious rug’  Fortune
  5. Eric Adams Finally Has His Own Cryptocurrency, NYC Coin  New York Magazine

Want the full story? Read the original reporting

Read on The Verge