Token

2024

when

<h4><strong>Presale investors sent funds hoping to secure $SLERF, but their money vanished in a major presale mistake. </strong></h4> 
<p>This marked a catastrophic event in the coin’s early phase. Let’s discover more about the $SLERG token presale.</p> 
<h5><strong>$SLERF Presale Blunder: Funds Vanish in Digital Misstep</strong></h5> 
<p>This blunder sheds light on the inherent risks associated with token presales, a mechanism often employed by new projects to raise funds. Presales offer early token access at lower prices, aiming for profits upon official launch and exchange listing. However, the $SLERF incident starkly illustrates how quickly this dream can turn into a nightmare when technical errors occur.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">BREAKING: Team behind <a href="https://twitter.com/search?q=%24SLERF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SLERF</a> memecoin accidentally burned $10M worth of <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> tokens sent by presale investors.</p> 
 <p>— Whale Insider (@WhaleInsider) <a href="https://twitter.com/WhaleInsider/status/1769635450900095054?ref_src=twsrc%5Etfw">March 18, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>The mistake happened when the $SLERF team failed to exchange received $SOL contributions for $SLERF tokens during a key presale step. A smart contract error or security lapse caused $SOL tokens to be sent to a lost address, permanently “<a href="https://www.altcoinbuzz.io/?s=burning" target="_blank" rel="noopener">burning</a>” the funds.</p> 
<p>This incident underscores technical risks and the need for investor due diligence in even well-intended projects. The promise of high returns from meme coins can eclipse the need for evaluating their technical and security foundations.</p> 
<h5><strong>More About The $SLERF Token Presale Debacle</strong></h5> 
<p>Ironically, the news boosted $SLERF’s value to new highs, as it unexpectedly reduced the circulating supply. This twist highlights meme coin markets’ volatility, driven by hype rather than project success or stability.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SLERF&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SLERF</a>, one of the tokens emerging from the Solana meme coin presale mania, chalked up multiple exchange listings, a $1.7 billion trading volume and thousands of unique holders in a few hours after going live – despite a major fumble. By <a href="https://twitter.com/shauryamalwa?ref_src=twsrc%5Etfw">@shauryamalwa</a><a href="https://t.co/GACu0KMKkZ">https://t.co/GACu0KMKkZ</a></p> 
 <p>— CoinDesk (@CoinDesk) <a href="https://twitter.com/CoinDesk/status/1769733337914957935?ref_src=twsrc%5Etfw">March 18, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>The $SLERF saga serves as a sobering reminder to both project teams and investors about the perils of presale phases. For developers, it highlights the need for thorough testing, <a href="https://www.altcoinbuzz.io/?s=security" target="_blank" rel="noopener">security checks</a>, and clear communication with investors. For investors, it’s a call to approach presale opportunities with caution, thoroughly vetting the technical credentials and security protocols of projects before committing funds.</p> 
<p>As the dust settles on this unprecedented event, the broader cryptocurrency community is left to ponder the lessons learned from the $SLERF presale debacle.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="aligncenter wp-image-124240" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg" sizes="(max-width: 714px) 100vw, 714px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1068x132.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1.jpg 1197w" alt="Coins" width="714" height="88"></a></p> 
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<p><strong>Disclaimer</strong><br> The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/10m-burned-by-mistake-the-slerf-token-presale-failure/">$10M Burned by Mistake: The $SLERF Token Presale Failure</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

$10M Burned by Mistake: The $SLERF Token Presale Failure

Altcoin Buzz

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