Pond0X token launch snafu results in hundreds of thousands of {dollars} in losses

The launch of memecoin Pond0x has led to hundreds of thousands of {dollars} in losses for traders, in line with a number of stories on social media on July 28. Knowledge from the Maestro buying and selling app exhibits that the Pond0x (PNDX) token reached a worth of $0.36 earlier than collapsing to close zero in a span of 5 minutes.

The launch of Pond0x was introduced on July 28 by “Pauly,” the pseudonymous founding father of Not Larva Labs who is understood solely by his Twitter username. Not Larva Labs is the developer of a nonfungible token buying and selling app for CryptoPunks and for a separate parody assortment referred to as CryptoPhunks. It isn’t related to Larva Labs, the creators of CryptoPunks.

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