Crypto trader loses $473k in 20 mins on Eric Adams’ NYC meme coin

A crypto trader designated Dr6s2o on Solscan lost more than $473,000 in just 20 minutes after former New York City mayor Eric Adams promoted a new meme coin called $NYC that rapidly collapsed in what many investors are now calling a rug pull. Specifically, the trader first swapped a total of 745,725 USDC for $NYC across five trades and then panic-sold the meme coin for only 272,177 of the stablecoin. The six $NYC trades that resulted in the loss of approximatelly $473,000. Source: Solscan What is the NYC token? Late on January 12, Adams – whose administration was previously under scrutiny for alleged corruption – announced the launch of $NYC – the ‘NY token’ – with an unconventional sales pitch source: https://finbold.com/crypto-trader-loses-473k-in-20-mins-on-eric-adams-nyc-meme-coin/