4 ms·

Former NYC Mayor Eric Adams rugs his own memecoin just 30 minutes after launch

81 points by pulisse 9mo ago

Finnucane 9mo ago
I know it’s not right to blame the victim when someone gets scammed, but really.
- e2le 9mo ago
  It goes without saying that scammers often target the most vulnerable. People desperate to escape their circumstances. In such a situation, not everyone is able to think clearly.
  - skybrian 9mo ago
    Some might be duped. But it could also be a way for fans or whales to “donate” to him.
ComputerGuru 9mo ago
Corrupt person engages in further corruption, shocked marks surprised to learn he hasn’t changed. News at six.
OgsyedIE 9mo ago
Why not do it again, and again and again? Every alpha-generating tactic is legal when there's no enforcement.
tibbydudeza 9mo ago
He must be desperate - the cheque from Bloomberg bounced.
pjc50 9mo ago
And people wonder why Mamdani won, despite a massive propaganda campaign. There's a real demand for anti-corruption candidates, and occasionally it's possible to find someone who actually is, rather than simply an even worse grifter with better propaganda. Note that the Trump administration exceptionally cancelled the prosecution of Adams for previous offences, enabling new offences: https://www.bbc.co.uk/news/articles/c74nl3120k4o https://www.bbc.co.uk/news/articles/c74nl3120k4o
ycombiredd 9mo ago
Maybe I am missing something or am just naive, but isn't it fairly common for social media accounts of well-known figures to be taken over (hacked/phished/whatever) for the purpose of shilling some crypto scam? Launching a memecoin and then very quickly (30 min later, apparently) rugpulling seems like it would at least as likely fit that type of scam as it would being one where the public figure themselves is actually behind the scam. Not making a claim as to what is actually true, just positing explanations. Heck, maybe plot twist: it is actually Eric Adams behind it, but the "account takeover" possibility was planned to serve as plausible deniability. You know... like "an actor that's playing a dude, disguised as another dude" type thing.
- tomasphan 9mo ago
  Nope he made a video about it: https://x.com/ericadamsfornyc/status/2010849167258566727?s=46&t=iVhoPrSrZ0w4gAEb5Ds9EA https://x.com/ericadamsfornyc/status/2010849167258566727?s=4...
  - shmeeed 9mo ago
    Just pointing out, this clip could have been done with AI just as well.
    - panja 9mo ago
      Yeah but I doubt it. These people have PR teams and could have easily released a statement if this was fake.
      - ycombiredd 9mo ago
        Yeah, just following up to my grandparent comment to say "wow. Holy shit. It is how it looks." I'm not sure why I was surprised; maybe I'm an optimist, or as I suggested in my first comment, a bit naive. In my defense, I don't think I'm stupid; I just don't want to believe so many people in power are cartoonishly evil, so I tend to look for explanations that don't require it. I think my internal sense of the world wants there to be a distinction between, say, average cryptoscammer evil buffoonery and the people in positions where at least ostensibly they try to present as a good guy while trying to keep their evildoings secret. This story gives me some sort of cognitive dissonance, and while reflecting on that fact, I get a bit sad. This world is bonkers.
qaz_plm 9mo ago
I’d say this is more of a previously agreed upon payoff than a scam on people buying coins…

81 points by pulisse 9mo ago

Finnucane 9mo ago

I know it’s not right to blame the victim when someone gets scammed, but really.

e2le 9mo ago
It goes without saying that scammers often target the most vulnerable. People desperate to escape their circumstances. In such a situation, not everyone is able to think clearly.
- skybrian 9mo ago
  Some might be duped. But it could also be a way for fans or whales to “donate” to him.

ComputerGuru 9mo ago

Corrupt person engages in further corruption, shocked marks surprised to learn he hasn’t changed. News at six.

OgsyedIE 9mo ago

Why not do it again, and again and again? Every alpha-generating tactic is legal when there's no enforcement.

tibbydudeza 9mo ago

He must be desperate - the cheque from Bloomberg bounced.

pjc50 9mo ago

And people wonder why Mamdani won, despite a massive propaganda campaign. There's a real demand for anti-corruption candidates, and occasionally it's possible to find someone who actually is, rather than simply an even worse grifter with better propaganda. Note that the Trump administration exceptionally cancelled the prosecution of Adams for previous offences, enabling new offences: https://www.bbc.co.uk/news/articles/c74nl3120k4o https://www.bbc.co.uk/news/articles/c74nl3120k4o

ycombiredd 9mo ago

Maybe I am missing something or am just naive, but isn't it fairly common for social media accounts of well-known figures to be taken over (hacked/phished/whatever) for the purpose of shilling some crypto scam? Launching a memecoin and then very quickly (30 min later, apparently) rugpulling seems like it would at least as likely fit that type of scam as it would being one where the public figure themselves is actually behind the scam. Not making a claim as to what is actually true, just positing explanations. Heck, maybe plot twist: it is actually Eric Adams behind it, but the "account takeover" possibility was planned to serve as plausible deniability. You know... like "an actor that's playing a dude, disguised as another dude" type thing.

tomasphan 9mo ago
Nope he made a video about it: https://x.com/ericadamsfornyc/status/2010849167258566727?s=46&t=iVhoPrSrZ0w4gAEb5Ds9EA https://x.com/ericadamsfornyc/status/2010849167258566727?s=4...
- shmeeed 9mo ago
  Just pointing out, this clip could have been done with AI just as well.
  - panja 9mo ago
    Yeah but I doubt it. These people have PR teams and could have easily released a statement if this was fake.
    - ycombiredd 9mo ago
      Yeah, just following up to my grandparent comment to say "wow. Holy shit. It is how it looks." I'm not sure why I was surprised; maybe I'm an optimist, or as I suggested in my first comment, a bit naive. In my defense, I don't think I'm stupid; I just don't want to believe so many people in power are cartoonishly evil, so I tend to look for explanations that don't require it. I think my internal sense of the world wants there to be a distinction between, say, average cryptoscammer evil buffoonery and the people in positions where at least ostensibly they try to present as a good guy while trying to keep their evildoings secret. This story gives me some sort of cognitive dissonance, and while reflecting on that fact, I get a bit sad. This world is bonkers.

qaz_plm 9mo ago

I’d say this is more of a previously agreed upon payoff than a scam on people buying coins…