The founder of a meme coin project called Slerf has sparked chaos in the crypto community after accidentally destroying 150,000 Solana (CRYPTO: SOL) tokens, valued at roughly $10 million.
What Happened: Detailing the events in a series of tweets on Monday, the founder said they initially attempted to burn the project's liquidity pool (LP) using Solana tools.
These tokens were slated for an airdrop, a promotional giveaway designed to attract interest in the project.
When that method failed, they switched to Sol incinerator, a platform designed to destroy unwanted tokens.
According to Slerf's tweets, while attempting to clear out "shitcoins" sent to the project's wallet, they mistakenly included the airdrop tokens in the burn transaction.
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Twitter Reacts With Shock and Humor
The crypto community reacted to the news with a mix of shock, amusement, and frustration.
"From what we have gathered, it does seem like a genuine mistake," crypto influencer Mario Nawfal told Benzinga.
Twitter users like Aldover and Abceater labeled the incident the "biggest rug in presale history," while others like zarkayus expressed disbelief at the sheer magnitude of the mistake.
Slerf's subsequent tweets attempted to remedy the situation.
They offered apologies and proposed a new pre-sale, promising to refund those who participated in the original pre-sale from the proceeds.
However, some users, like Crypto Adversiting remain skeptical.
The possibility of legal repercussions was also raised, with users like GQGGameClub recommending Slerf contact law enforcement.
The blunder occurs at a time when the cryptocurrency community is debating whether this bull market is stalling or bound to continue soon.
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