adams

🚨 How People Got Scammed by an Ex New York Mayor's Memecoin

The Hype That Turned Into a Nightmare 💸

Former NYC Mayor Eric #Adams launched "NYC Token" at a flashy Times Square press conference in January 2026. He promised it would somehow combat antisemitism (yeah, we're confused too 🤔). The coin's market cap skyrocketed to $600 million almost instantly.

The Crash That Shocked Everyone 📉

Just 30 minutes after launch, disaster struck. The token crashed over 81% in what's called a "rug pull", basically, the developers yanked their money and ran. A wallet linked to the team withdrew $2.5 million, leaving investors holding worthless tokens.

Real People, Real Losses 😔

One trader lost $473,500 in under 20 minutes. That's a 63.5% loss in the time it takes to watch a sitcom episode. Roughly $500 million in paper value vanished into thin air.

The "Not Us!" Defense 🙄

Adams' team claimed they didn't withdraw anything, just their "market maker" making "adjustments." Right. This is the same guy who called himself the "$BTC Mayor" and took his paychecks in crypto.

The Lesson? If a politician launches a memecoin, run. 🏃‍♂️

#memecoin #scam #NYCTokenScandal