Recently, in the light of the Monkey Pox cases around the world, someone created a cryptocurrency token called MonkeyPoxInu (MPOX) and listed it on the decentralised exchange (DEX) PancakeSwap.
MonkeyPoxInu (MPOX) developers have run away with $400 million in an apparent exit scam as the token tanked in price.
According to a post by Twitter handle @CryptoWhale, the token has now lost more than 99% of its initial value.
It was not listed on prominent crypto data sites such as CoinMarketCap and CoinGecko but in some way it managed to get people to buy this crypto.
The cryptocurrency started gaining traction and reached a significant market cap in the past few days.
Several investors also took to Twitter to complain about being defrauded. A Twitter user allegedly claimed to have lost $107,000 in the scam.
Seeing the opportunity, the developers of the coin allegedly ran off with the investors’ funds.