In the $3.42T worth of the crypto industry, meme-inspired tokens have built their kingdom, as their demand is quite high. In 2024, the memecoins and meme coin creators count grown exponentially, especially with token launcher platforms like Pump.Fun, where millions of tokens have been launched in just a few months. One such token’s creator has made a major crypto transaction mistake, losing $150k within seconds, leaving the crypto community in shock as to how such an experienced individual could make such a foolish mistake.
How The ‘I Have Nothing’ Meme Coin Creator Lost $150k?
I Have Nothing meme coin creator DomTheTroll lost $15ok during a live stream while conducting a routine operation. This happened a few days ago, when DomTheTroll, a popular YouTuber and live-streamer, accidentally burned his tokens by transferring them to a burn address. This is one of the biggest transaction blunders, as the meme coin creator lost all of his crypto holdings worth around $150,000, that too in front of hundreds of viewers.
As already clear, a burn address permanently locks the cryptos with no way to recover, which has put DomTheTroll in a major loss. Even the crypto community sympathized with the creator, as it was a very common mistake and has happened to many, where people missed cross-checking information before proceeding with crypto transactions.
This “dev” accidentally burned $150k of tokens (everything he had) while live streaming
pic.twitter.com/C6CRSzFaXE
— Gordon (@AltcoinGordon) November 27, 2024
Interestingly, it is normal for crypto investors to earn millions in the trading industry, but such hefty losses are also equally normal.
Two More Crypto Users Made Similar Mistake
Similar to the meme coin creator, a crypto trader lost millions as he transferred $3.08M worth of tokens to the wrong address. The trader intended to transfer funds to a receiving wallet but did not cross-check the entire wallet address and transferred the tokens to a scammer’s wallet. The scammer has been planning this scam for a long time. He custom-created a wallet address that has a similar character as the receiving wallet. He then created a transaction history with the crypto trader. In the end, the scammer got $3.08M after the victim transferred 7M PYTH.
Additionally, another crypto user lost $25 Million after mistaking the safe module for the safe wallet. This happened at the beginning of the month when the user intended to transfer his Renzo Restaked ETH to a safe module. Instead, he sent these tokens to the safe module, which has locked these tokens in a Smart Contract forever. The only solution was to request the Renzo team to modify the Smart Contract, but due to compliance issues, they could not, leading the crypto user to a major loss.
These are some of the examples that have happened this month, but there are more. Overall, this confirms how often such crypto transaction mistakes happen, leaving crypto investors in major losses.
What’s The Lesson Here?
In November alone, three prominent crypto transaction mistakes were noticed that have left crypto users in heavy losses. However, there are many more, and people are losing millions with a minor mistake. The popular Youtuber and meme coin creator lost $150k within a second while running a routine operation. More importantly, hundreds of people get to witness this incident live, leading to it becoming a major lesson for others.
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