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SLERF, a meme coin, accidentally destroyed $10 million raised by the founder, but surged 60 times in just two hours.

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SLERF, a meme coin, accidentally destroyed $10 million raised by the founder, but surged 60 times in just two hours.

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Meme Coin SLERF Raises 50,000 SOL

The meme coin project SLERF recently raised over 50,000 SOL, worth approximately $10 million, claiming to have no team reserves. It emphasized that 100% of the funds raised will be injected into the liquidity pool. However, founder Slerf encountered a security incident during the token issuance process.

Majority of SLERF Tokens Destroyed, Airdrop Failed

Slerf stated that due to operational errors, the majority of liquidity funds and airdropped tokens were destroyed, and minting rights were revoked.

From Slerf's numerous tweets, it is evident that he is quite distraught and claims to currently have no remedial measures.

SLERF Surges 60x

Despite Slerf's mishap of destroying all funds provided by investors, this seems to have caused SLERF to become an extremely deflationary token.

SLERF has surged over 60 times since 3 PM, becoming the hottest meme coin in the current market.

SLERF｜One Address Earns $3 Million in 12 Minutes

Blockchain monitoring agency Lookonchain also pointed out that the address 5Jh…xd immediately spent 9,894 SOL to purchase 69,740,000 SLERF right after SLERF opened, and sold them in 12 minutes for 25,001 SOL, earning approximately $3.02 million.

Multiple Exchanges Announce Listing of SLERF

Exchanges including HTX, MEXC, Bitget all announced they will list SLERF on the afternoon of the 18th.

Bybit seems to still be under consideration.