Simultaneously with Elon Musk announcement about the name of his character in a popular game on the Ethereum network, a token of the same name was launched, which soared in price and almost immediately collapsed.
The Random 9 cryptocurrency has grown by more than 750,000% since Elon Musk's post. Over the next 30 minutes, the token was practically devalued.
On the evening of March 23, Musk wrote on the social network X that his character ranks third in the game Path of Exile (POE) — a multiplayer computer game in the genre of action / RPG. In response to a subscriber's question about the name of his character, he said that there were several of them: the previous one under the name Blossom died, and the current one is called Random9.
At the same time, the Elon's POE account (Random 9) token was launched on the Ethereum network, the price of which immediately went up in decentralized auctions. Within three hours, the price of the token increased from $0.000002117 to $0.01594 — by 752,852%. After a sharp rise, Random9 collapsed even faster — in half an hour it dropped in price by almost 100%.
According to the dexscreener columnist, token trading stopped immediately after the crash. Most of the fraud checks were passed by the token, but Gplus analysts marked Random 9 as a scam token from the HoneyPot category.
Translated from English, a HoneyPot literally means "a pot of honey," but it is often translated simply as "bait." The point of this scheme is that a fraudster creates a cryptocurrency project on attractive terms for potential victims. At the same time, the project has one goal — to steal money, personal data or confidential information from victims.
Upon subsequent analysis, the community found that dozens of wallets created six days before the launch of the token, replenished with Bybit and MEXC crypto exchanges and having an identical history, began to purchase Random9 for approximately the same amounts. The history of these purchases can be traced on the browser's page — most of the transactions fall on such wallets.
Transactions of the crypto wallet that was the first to buy Random9 tokens.
By examining transactions with the token, you can find that the mentioned wallets conducted quite profitable transactions. So, the owner of the address, who was the first to buy tokens at the launch for $41, sold most of them in a few minutes for $6,700.
In January of this year, tokens named after the previous POE Mask character named FatalismFTW also rose and fell in price. There were several such tokens — on the Ethereum blockchain, on Solana.
Tokens in honor of Elon Musk's character in the Path of Exile game under the name FatalismFTW.
Before that, the Mask character in the Path of Exile game was Percy Verence, and even earlier, Kekius Maximus. At the end of 2024, Musk even changed the name in his X account to Kekius Maximus, against which the KEKIUS token from anonymous creators grew by more than 3,000% in a few days, its capitalization at the moment exceeded $ 500 million. After changing the character to Percy Verence, the PERCY token rose in price by 50% at the next mention of the Smear.
Be careful and take care of yourself.
