Former New York Mayor’s NYC memecoin rugpulls investors at launch, and the method used was shockingly brazen

Former New York mayor Eric Adams’ new NYC token fell more than 81% within about 30 minutes of its Jan. 12 launch on Solana, wiping out roughly $500 million in peak paper value. The token briefly reached an estimated market cap of $540 million–$600 million source: https://cryptoslate.com/eric-adams-nyc-token-crashed-81-and-a-single-wallets-massive-70-holding-reveals-why-the-game-was-rigged/