In a startling development on Wednesday, January 29, 2025, the UFC's official Instagram account was hacked, resulting in the fraudulent launch of UFC Crypto Coin, which led to a massive rug pull. The deceitful token lured thousands of unsuspecting investors and set the crypto industry on fire.
The official UFC Instagram account, apparently one that can be trusted with up-to-date information, has outdone itself, shocking its follower base by suddenly announcing an official UFC Crypto Coin. The flashy promotion tagline read:
With a link to buy the purported UFC token, the vast audience of UFC worldwide made many think this was indeed a legitimate offering. On the other hand, this was far from the truth-an elaborate crypto scam.
Hearing about the UFC Crypto Coin, innumerable eager investors rushed in, propelling the token's price into a runaway of 6000% in only 15 minutes. The token soared way past $0.015000 from an almost negligible value; not surprisingly, the market became bullish. However, it was short-lived.
Very soon, a spokesperson for UFC confirmed to MMA Junkie that they had nothing to do with that cryptocurrency. Meanwhile, the official channels of UFC were warning fans about the scam, but by then millions were already programmed into the fraud token.
Once the UFC distanced itself from the token, panic ensued, and the UFC Coin price crashed by 98%, leaving early buyers with devastating losses. The drastic decline showcased the volatility of UFC Crypto Coins and the risks of impulsive investments in digital assets.
Despite the collapse, trading activity remained astonishingly high. The fraudulent UFC token recorded $48.16 million in 24-hour trading volume, highlighting how quickly a trending crypto asset can be pumped and dumped.
As of now, the UFC/SOL pairing is trading at $0.001201 (approximately 0.055017 SOL) on Raydium, supported by $209,000 in liquidity. The fully diluted valuation (FDV) and market cap hover around $1.2 million, but the numbers continue to fluctuate as traders scramble to recover their funds.
This unfortunate incident serves as a wake-up call that not all crypto projects are legit. The fake UFC Coin scam only reinforced the importance of confirming via multiple sources before committing to investment. UFC did not give an official announcement in favor of its proposed cryptocurrency, which became enough to reveal that token to be an outright scam.
Given the token’s massive decline, experts predict that UFC Crypto Coin will likely face further devaluation. A sharp rise in trading volume could spark a short-term rally toward $0.001000-$0.002000, but this would depend on renewed market interest. While opportunistic traders may still engage in short-term trading, the long-term UFC coin price analysis remains grim due to the lack of official UFC backing.
The hacking of the UFC Instagram account and the subsequent rug pull of the UFC Crypto Coin are stories of caution. In this constantly-changing arena of cryptocurrency, scams are getting more sophisticated with time.
Stay tuned for the latest news and UFC coin price analysis.
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