Solana’s Neiro Memecoin Developer Nets $2.85M in Rug Pull
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jul 31 2024Rug Pull Incident: The developer of the Neiro memecoin on Solana executed a rug pull, earning $2.85 million after initially investing only $552, raising concerns about the legitimacy and risks associated with such tokens in the crypto market.
Market Impact and Community Response: Despite the controversy, Neiro gained significant popularity, leading to increased trading volumes on Solana, surpassing Ethereum's, and prompting discussions about investor safety and potential regulatory actions in the memecoin sector.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
