$10M accidentally burned as Solana memecoin craze continues
With Solana ’s memecoin mania seemingly reaching fever pitch, multiple token presales have been announced over the past few days with varied results. One such project, SLERF, raised $10M on Solana before disaster struck at launch. According to the project’s developer, while attempting to burn SLERF’s LP tokens (which would ensure liquidity for trading the token) they also accidentally burned the tokens allocated to presale investors. Guys I fucked up. I burned the LP and the tokens that were set aside for the airdrop. Mint authority is already revoked so I can not mint them. There is nothing I can do to fix this. I am so fucking sorry. — Slerf (@Slerfsol) March 18, 2024 With the minting functionality already disabled, there was little to be done for those who had invested before launch. However, the error seemed to draw plenty of attention and, with no presale holders to dump on them, memecoin-hungry traders aped in. Dev: Shows complete incompetence by burning $10M USD worth