Joke Token $FEW Backfires on ETH Influencers

Joke Token $FEW Backfires on ETH Influencers

By Abhimanyu Krishnan | News | 23 Sep 2020


Ethereum (ETH) influencers have fallen into hot water after their joke token, FEW, was accused by many to be a pump and dump scam.

  • Anonymous yearn.finance supported BlueKirby on September 23 tweeted about a Telegram group which had several prominent community members working to promote a token called FEW 
  • Members include Alex Masmej, Anthony Sassano, DeFi Dude and Steven Mckie
  • Members explicitly said such things as “[we] who missed MEME airdrop trying to redeem ourselves” and “and we pump [FEW] legally”; some took this as being serious statements
  • They attempted to gather 100 members who “weren’t nobodies”, following which they would airdrop and shill the coin
  • Within 2 hours of starting, the group had nearly 600 members
  • Within 3 hours, a fake FEW contract was created on Uniswap and $15k worth of liquidity was added; a domain name was registered shortly after 
  • The attempt follows the unexpected rise of joke coins like MEME, which started out as a joke by ConsenSys DeFi product lead Jordan Lyall; the total value of $MEME airdrop was $600,000 at the token’s peak price
  • Exchanges like Uniswap explicitly warn users that anyone can create an asset, and that due diligence on an asset is required
  • Masmej later tweeted that he had burnt all his coins and that the whole idea was a joke to start with
  • Others have said that the original group members did not have any malicious intent, but the joke was foolish

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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