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breaking news:
the end of the $brett token on @base is near.
$brett token has plummeted by 62% amidst shocking revelations @crashiusclay69, @mutant_prism, @investwithrex and @stekisteks the promoters behind the scheme, have been exposed for orchestrating a grand plan to defraud their unsuspecting audience of their hard-earned money.
as @shady_oak1 points out $brett was not a fair launch and insiders were holding what we now have learned was 96% of the total supply before most people could buy $brett token.
the $brett team acted fraudulently by allocating $brett tokens in a manner that heavily favored their own interests, at the expense of public participation.
the $brett team argues they kept 10% in their deployer wallet and 5% in their CEX (centralized exchange), which is considered standard practices to some extent, although the specific percentages can vary widely depending on the project's goals and strategies.
however, what raises eyebrows is the allocation of 81% within their whitelisted wallets.
this suggests a significant centralization of the token supply, as it implies that a large portion of the tokens is controlled by a select group of individuals or entities closely associated with the @basedbrett team.
such a high level of control has led to concerns about the project's decentralization and the team's ability to influence the token's price or governance.
the fact that only 4% of the token supply was left for the public to buy at time of launch limits the token's distribution and liquidity, which are essential factors for a healthy and thriving token ecosystem.
the $brett allocation strategy raises serious questions about the team's transparency and intentions, as it is currently being perceived as a way to maintain control over the token with intentions to pull the rug from under the feet of their holders.
@banditmfer has rewarded @shady_oak1 a $mfer nft for their sleuthing and confronting the scammers head on in their @x spaces and telegram groups.
let's raise a glass to our investigative extraordinaires @shady_oak1 @artibian_maxi for keeping @base and #web3 a safe and fun place to build on-chain.
stay tuned for more updates as this story develops...
jah bless
source - x.com/shady_oak1/sta…
#cryptocurrency #cryptocurrencynews #cryptocurrency #scammeralert #base
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