Pharma Bro’s token goes down
The transformation of the scandalous Martin Shkreli from Pharma Bro to Crypto Bro is not going as smoothly as planned. In recent weeks, his Web3 platform’s own token, Druglike, has collapsed completely.
After an early release from a high-security prison, Shkreli, who is banned from returning to the pharma industry, embarked on an idea that is at the intersection of pharma and the crypto sphere. He launched Druglike, a unique platform for developing new medicines.
“We started Druglike because in our experience, traditional drug discovery software is too difficult and expensive to use.”
According to Shkreli, the platform has the potential to remove barriers in the early stages of drug discovery, increase the number of innovations and motivate a considerable quantity of participants with rewards.
As a DeSci platform, Druglike ensures the integrity of collaborative research through the Proof-of-Optimization consensus algorithm. Its main goal is to make the drug development process more democratic and accessible not only to certified pharmacists but also to students and activists.
Current in silico software is only accessible to large pharmaceutical companies willing to pay obnoxious licensing fees. Students in every country no matter their university, startup companies to Fortune 500s, and even dedicated hobbyists will all have the same opportunity to design new molecules to change the future of drug discovery.said Shkreli.
Is it a hack or a provocation?
Druglike is a platform with its own token called Martin Shkreli Inu. Launched a while ago, it reached an all-time high on July 27. But already August 12 was fatal for the Pharma Bro personalized token: it collapsed, reaching a bottom of $0.00000057859. During the next few days, the coin showed a slight recovery trend, but it couldn’t go higher than $0.00000497 as of the moment of writing this article.
Why did the token crash, even though the crypto market has not had its worst days recently? One possible reason is the unauthorized withdrawal of more than 160 billion tokens by the 0xshkreli.eth account, which led to the crash.
Shkreli claimed the hack. There has been no further official comment on the situation. Social networks, including Reddit, were abuzz with the news. Users did not miss the chance to leave sarcastic remarks about the new “successful” business of the controversial entrepreneur and the name of the token. At the same time, many of them are sure that the catastrophic fall of MSI is the work of Shkreli himself.
