Someone was looking for a
#PonziScheme, and
#Influence served it on a golden platter! π½οΈ
Many people sold their Arena holdings and jumped into Influence, only to find themselves sitting on massive losses today. A token that once reached a $250K market cap has now crashed to just $10K!
The biggest red flag? The developer allegedly sold off their entire token supply and dumped on the community. Looking back, the selling pressure appears to have been there since the token's launch, but people failed to see it for what it was.
Endless promises, false hopes, and big dreams kept people invested while the developer reportedly walked away after selling a bag worth over $60,000, along with approximately $25,000 in fees earned.
Arena had a community. Influence sold people a dream. And now, many are paying the price.
Sometimes, the biggest lesson in crypto is this: don't blindly follow the hype.