Incident Overview
A MEME coin called BALD, built on the Coinbase Base test network, appears to have pulled in at least $25.6 million. Although the Base network was intended to be used for developer testing, an anonymous cryptocurrency user named "Bald" announced that they would be selling BALD tokens on the Base network, and the token's price skyrocketed. However, token deployers emptied liquidity pools of around $25.6 million worth of tokens just two days after launch, clearly pulling the market. The token price quickly plummeted by around 90%.
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.