Reprinted from: Web3 Frontline Author: Frontline Jun
BSC chain Meme coin ENTS suffered a crash last night, plummeting 73% overnight.
Ents is a Meme token with the mission of reviving BNB Chain to promote community consensus. It was initiated by a former babydoge trader and blogger named VT. Its slogan is "It is our duty to revive the glory of BSC."
VT first used 3,000 BNB to build the pool, and other BNB were used to protect the market. Yesterday afternoon, he said that he would take out 10,000 BNB to promote the market:
However, the pull-up turned into a smash-up, with a waterfall of 59% in almost one second last night. So far, ENTS has fallen 73.2% in 24 hours.
Afterwards, netizens had different opinions on social platforms:
Some people say that VT is acting, and some people say that the capital market is ambushing in advance and waiting to raise prices and sell goods. Indeed, there are many suspicions of rat positions.
Some people also came forward to expose VT’s previous fraud history and usual harvesting methods:
VT once claimed that he was the boss of A9 A10, but in fact he was just an investor holding a small position.
VT has manipulated other projects many times, cutting leeks through false promises, pulling and pulling, and rat-holding, etc., and has long been notorious. The reasons for each collapse are different, such as ex-wife stealing wallet, brother's betrayal, core backstabbing, friend's injury.
In the ENTS project, VT used 30% of the raised funds to add to the pool, but in fact all these funds were cashed out by him through rat positions.
"Xiao Fa Ge" thought this was a premeditated script. He said:
"When the market opened, VT bought 2 billion coins with the mouse warehouse and cashed out more than 10 million dollars; added 3 billion to the pool, opened 7 times lower than the opening price, and bought more than half of it at a low price; the chip allocation was 30% for private equity, 30% for the pool, and 30 for the team %, adding these coins to the pool is the place to cut leeks. The project team still has endless goods, and the pool is simply not enough. Use your left and right hands to cash out and wash away the remaining BNB. Buy as many sets of hold-up disks as you want. The time to reset all depends on VT. Feeling."
He also deduced that if the situation becomes serious next, he should continue to repurchase, and his rat warehouse will continue to purchase goods at the lowest point, and then ship out at the highest point. Then I talked about repurchasing it, and slowly defrauded all the money in it.
Of course, VT himself did not admit that he had smashed the market. He posted that he did not cut the leeks or smash the market, and he would not give up on the $Ents project. He hoped that the exchange would help freeze the relevant funds.
Now the entire Internet is trolling VT, and big community players are also organizing to defend their rights.
From this incident, we once again realized deeply: if you play with local dogs, you are destined to have 10 times the profit and 10 times the risk of falling.
I just saw Bitcoin Ziqi writing a long article on his Twitter to defend Red God’s withdrawal from the circle, and then I realized that the recent controversial announcement of Red God’s withdrawal from the circle was also affected by the VT fraud incident. Many Red Gods on the Internet From the screenshot of the project, when only 20% of the coins were put into the pool, a bunch of accounts suddenly appeared and began to accuse Red God of joining VT for fraud. Later, you could hardly see those scolding VT, and all of them turned to scolding Hong. God, to be honest, this matter is not trivial. Someone might go to jail. I guess the Red God couldn't stand it anymore, so he announced his withdrawal from the industry.
