Bitget, Floki teams accuse each other of manipulation after token listing
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The teams behind the Floki protocol and Bitget crypto exchange have
In its statement, Bitget offered to buy back all the TOKEN it has sold to its customers. The token’s peak price before delisting will be paid out to customers, which is $0.00605002 per token or about 121 times its initial price. This implies that any losses that may have occurred before the delisting will be covered by the exchange. However, investors who bought from Bitget will not benefit from any token appreciation after delisting.
The Floki team rejected Bitget’s claim that Floki only provided $2,000 worth of tokens in its initial liquidity pool. They claimed nearly $2 million of liquidity in each of the two TOKEN pools. They posted an alleged screenshot from DEXTswap showing the amount available.
The screenshot shows current liquidity, not the initial liquidity that Bitget referred to. The contract addresses are abbreviated in the image, making it difficult to look up the pools in a block explorer. Cointelegraph could not determine the TOKEN’s initial liquidity by the time of publication.
TOKEN isn’t the only token-launch snafu to result in millions of dollars in losses. BALD token on Base fell 85% after its developer pulled liquidity from the pool, though they claimed they weren’t responsible for the price drop. Investors also lost over $2.2 million in the launch of Pond0X, which allegedly contained a faulty transfer function.
