The Martin Shkreli Inu (MSI) token, which was introduced last month, fell more than 90% at one point on Friday, according to data from Binance. The price of the coin dropped after Shkreli’s unnamed wallet, which looks to be his, sold a significant amount of its holdings.
The Shkreli Inu token, which bears Martin Shkreli’s “the pharma bro” name, saw over $1 million worth of trade on Uniswap within days of launch. Then, Shkreli said on the Spaces that he did not create the token but did receive around half of the supply.
According to Bloomberg, An account thought to be managed by Shkreli responded, “I got hacked,” when asked about the plunge on the social media platform Discord. Requests for a response from Shkreli’s representative were not immediately entertained.
According to a sequence of blockchain transactions, a cryptocurrency wallet account with the address 0xshkreli.eth transferred more than 160 billion tokens early on Friday to an unnamed wallet, according to Etherscan. After paring losses, the MSI token was down more than 64% at the time of publication.
Martin Shkreli Inu is associated with the Web3 project Druglike, which Shkreli started in July. For people interested in “early stage drug discovery initiatives,” Shkreli described it as a digital platform that offers resources.
Shkreli, who was previously referred to as “the most hated man in America” due to his decision to increase the cost of a medicine that could save lives by 5000%, was freed from prison earlier this year after doing time for securities fraud.
Shkreli attacked NFTs, Vitalik Buterin, the creator of Ethereum, and the “shitcoin retards” who recently built a cryptocurrency in his honor in a tweet space in May.
He asserted that while inside prison, he learned how to trade on the decentralized exchange Uniswap and that he also received unspecified benefits in return for giving prison guards Bitcoin advice.
“I guess he’s mad at me because I think he’s full of shit, that, you know, it’s sort of been proven that there is no blockchain trilemma,” Shkreli said, claiming that Algorand founder Silvio Micali proved that the trilemma was “a mathematically weak idea.” “No offense to Vitalik though, he was brilliant,” Shkreli stated then.
Image Credit: Shutterstock
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
