🌋 The GROK Token Plummets Amid Fraud Allegations
posted 14 Nov 2023
GROK, a meme token inspired by Elon Musk's artificial intelligence
ventures, experienced a dramatic 50% drop in value after its developer
was exposed.
Initially, GROK soared 13,000% in just nine days, reaching a market
capitalization of $150 million with over 13,000 owners. However,
blockchain researcher ZachXBT uncovered the founder's links to past
fraudulent schemes, leading to a sharp decline in GROK's price.
Despite this, a portion of the GROK community still believes in the
project, considering the aforementioned information to be FUD (Fear,
Uncertainty, Doubt). A user on social network X points out that the
developer(s) even burned all the tokens in the deployer's wallet by
sending them to a zero address.
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