One of the Actors of the LIBRA Scandal Rugladı This Meme Coin! Massive Damage Done! - Coin Bulletin

According to the data shared by Lookonchain, an investor lost $101,000 in just 3 hours by selling Dave Portnoy's token named Greed.

Barstool Sports' founder and Dave Portnoy, who is frequently in the news for his moves in the cryptocurrency market, caused a major crash after getting rid of the Greed token. According to Lookonchain's analysis, an investor spent approximately 153 thousand dollars to buy Greed for 911 Solana (SOL).

However, when selling, only 309 SOL, equivalent to 52 thousand dollars, could be recovered. This caused the investor to lose 602 SOL, equivalent to about 101 thousand dollars.

Greed token investors are experiencing huge losses

Dave Portnoy, who previously caused a 99% price collapse by creating the Greed token and selling his assets. With this move, Portnoy, who made a profit of 258 thousand dollars, then released a new token called Greed2. However, these projects continue to carry significant risk for investors.

Portnoy previously made headlines with the LIBRA token scandal. It was claimed that Portnoy was given 6 million tokens by the President of Argentina Javier Milei to promote the LIBRA token, which he rejected as unethical. Meanwhile, after the price of the LIBRA token skyrocketed to 4.5 billion dollars, it suffered a massive 'rug pull' and lost 95% of its value, with Portnoy's name being one of the central figures in this incident.