Dogechain developer wallet caught dumping 1 million tokens a minute
Self-proclaimed “on-chain detective” @ZachXBT A wallet linked to the Dogechain developer tweeted that it has started dumping DC tokens.
Wallets that received 20,000,000,000 DC for free are tied directly to the expanders and have already started dumping tokens to people.
0x7249a89195A7A532af12345E2dE0C20c8A06A0d9https://t.co/rsnYUsVzrD https://t.co/66Ulblwfcl pic.twitter.com/lsSqa4Mj9w
—ZachXBT (@zachxbt) August 25, 2022
Dogechain will use DC tokens August 24th Via airdrop to eligible wallets.of eligibility criteria It was a Dogechain wallet that interacted with the protocol prior to August 23rd. This requires adding Dogecoin (DOGE) liquidity to the Dogechain protocol.
Reddit user u/evelynvee The Dogechain dev wallet mentioned by @ZachXBT posted that it is dumping the 20 billion tokens received from the airdrop at a peak of 1 million tokens per minute.
According to u/evelynvee, there is a minimum transfer of 9 million DC tokens ($16,000) in addition to the 8 million DC token fee for bridging to the Ethereum chain, so DC token holders typically dump their tokens. You can not.
official Doge Chain Twitter I have not responded to any comments or requests about what is going on.
Dogecoin Foundation Warns Users Not to Put DOGE at Risk
Dogechain pitched itself as a Layer 2 scaling solution to bring DeFi, NFTs, and games to Dogecoin.
Borrowing from Dogecoin’s philosophy, the Dogechain team said the project is community-based and champions the idea of equality and fairness.
“Dogechain stands for fairness and equal opportunity for all. Our goal is to create a blockchain that is truly people-owned.“
Nevertheless, Jens Wiechers, a board member of the Dogecoin Foundation, warned that Dogechain is not a related product and that “paid media”, including social media masquerades, are instead spreading false information.
Similarly, Dogecoin dev @cb_doge He said Dogechain is “another similar token” and warned DOGE holders not to put their tokens at risk.