Ramazan Eles 
Slerf, the Solana meme coin project, has incurred losses exceeding $10 million for its pre-sale investors due to a significant mishap.
In a surprising development, the Solana-based meme coin project Slerf experienced a major setback, resulting in over $10 million in losses for its pre-sale investors. This occurred due to an accident caused by the project’s developer.
The developer of Solana‘s Slerf project recently made a shocking revelation on X, admitting to accidentally burning a large portion of the token supply. This includes Slerf assets allocated for liquidity provision (LP) and airdrop distribution. Following the successful fundraising of over 50,000 SOL and more than $10 million, the mishap unfolded.
Unfortunately, the developer disclosed that they unintentionally burned LP tokens and the entire reserve of 500 million SLERF tokens earmarked for the airdrop. Despite attempts to rectify the situation, the revocation of minting rights rendered recovery efforts futile, leaving pre-sale investors unable to recover their investments through token distribution or Solana refunds.
In an effort to provide transparency, the Slerf team held a session on X Spaces to address community concerns. Team member Slorg expressed deep dismay, admitting to feeling physically ill over the situation and uncertainty about the path forward.
Furthermore, speculations arose regarding the involvement of a Ponzi scheme after a Solana trader reportedly capitalized on the accidental burn, securing significant profits within minutes. This incident, coupled with Slerf’s over 800% surge today, has raised concerns. Additionally, Solana’s Book of Meme (BOME) crypto prompted a Binance probe into insider trading allegations following an unprecedented price surge.
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