FTX-LINKED Project Serum Shilling Shitcoins on Twitter: Report

FTX-LINKED Project Serum Shilling Shitcoins on Twitter: Report

According to the on-chain detective ZachxBT, the official Twitter account of the decentralized financial project serum, which had over 200,000 followers, was renamed "Luka".

It is speculated that the original serum account was sold to another user because all previous tweets have been deleted.

• Share of a screenshot of the account zachxBT revealed that his PFP-Avatar was replaced by Milady NFT and used to promote "shitcoins".
• for the uninitiated: Serum was founded in August 2020 by a consortium, to which the Solana Foundation and the FTX by Sam Bankman-Fried and the Trading Desk Alameda Research belonged.
• serum was financed alongside ftx.com and FTX US by Multicoin Capital.
• It was once announced as a central decentralized stock market platform and liquidity providers for the Solana defi ecosystem.
• The events that led to FTX's bankruptcy request forced Solana Defi projects such as Raydium and Jupiter to cancel the connections to serum.
• Several stock exchanges, such as Upbit and Binance, have deleted serum from their platforms. Shortly afterwards, the native token of the project - SRM - has lost over 98 % of its value since his all -time high in September last year. It was assumed that the project ended.
• A community-controlled fork of the V3 program was launched by Serum and renamed "OpenBook", which has over 5,000 followers on its Twitter account.

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