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ToggleA wave of Ronaldo memecoin scams emerged following rumors that he was preparing to launch a Token.
Last weekend, the cryptocurrency community was abuzz with a series of Token based on the name of football superstar Cristiano Ronaldo. At that time, rumors suddenly appeared that CR7 was about to release his own meme coin, causing many investors to rush to find opportunities. However, to date, there has been no official source or statement from Ronaldo confirming this information.
One of the most prominent Token , CR7 , inspired by Ronaldo’s nickname, quickly attracted huge cash flows. In less than 10 minutes, the Token soared to a market Capital of $143 million . However, in just the next nine minutes, its value plummeted 98% , turning many investors into victims of a classic “Rug Pull” in the crypto world.
Signs of an organized manipulation campaign
According to on-chain analytics firm Bubblemaps , multiple social media influencers promoted CR7, only to suddenly delete their posts shortly after. Anonymous analyst 0xToolman believes this could very well be a staged campaign:
Some influencers took advantage of the news of Kanye West launching the YZY Token to “add fuel to the fire”.
They spread the news that Ronaldo will also Token Issuance , using his own social media accounts to create a crowd effect.
Then a fake Token was published with a smart contract address. As investors poured money in, the group behind it quickly dumped it, draining liquidation.
It is worth noting that although Ronaldo has partnered with Binance since 2022 to release four official Non-Fungible Token collectibles, most of the fake Token this time appeared on the Solana network. In fact, at least five other CR7 Token were also launched, but all of them did not exceed the $1 million Capital cap.
The Ronaldo Effect in the Crypto Era
Cristiano Ronaldo is not the first sports star to have his name exploited in the world of cryptocurrencies. Similar cases have happened to other famous figures, from athletes to singers. Investors’ FOMO (fear of missing out) psychology is fertile Shard for scammers to exploit.
As of now, Ronaldo has not made any announcements on social media platforms about the Token Issuance . What fans can confirm is only Non-Fungible Token collections in partnership with Binance.
