A crypto X user noted that Piggy token founders successfully scammed Piggy token investors.
Piggy token is a Solana network-based token. This meme token project was founded by Layah Helipern, the host of the Layah Helipern YouTube channel.
Initially, they raised more than $428k worth of Solana (Sol) for the launch of the Piggy token. In short, they raised this amount via the pre-sale of Piggy tokens.
A Crypto X (Twitter) user Kara Szabo reported that Layah Helipern & her brother successfully scammed people, as the trade price of this token crashed from 0.025 Sol to 0.0006 Sol.
X user noted that the Piggy token became useless just after the launch, in short Piggy token was a rug pull scam.
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Some X users noted that Piggy token founders are from the US but still, they conducted this level of scam. On one side they raised funds for the token launch, which is against the US Securities Act, and secondly, they played against investors’ money.
It is worth it to note that Layah Helipern has a total of 481k subscribers on YouTube and it is very easy for her to drag innocent investors under any kind of scam easily.
Here this is not a single case, where a crypto influencer launched a new token & rugged customers’ funds, earlier similar kinds of incidents happened almost daily in the last couple of months, amid the Sol meme token trend.
Over the last couple of years, the United States Securities and Exchange Commission (SEC) has shown very strict action against all the crypto companies, including good actors, but unfortunately, they failed to bring any strict rules & restrictions against those crypto influencers who are misusing their influence to scam crypto investors easily.
Read also: US Congressman criticises SEC Chair over SEC’s potential legal action against Robinhood (HOOD)
Solana network-based Piggy Token founders scammed investors
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https://bitcoinik.com/solana-network-based-piggy-token-founders-scammed-investors/feed/
