GREED Token Is Not a Crypto Scam, but a Lesson on How to Get Scammed Amid Meme Coin Mania

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Despite multiple warnings from Voshy, the meme coin’s creator, speculators turned over Twitter permissions to get access to the token. They got a valuable lesson in account security. This past week a social experiment called GREED got the best of would-be speculators on the Solana blockchain. Instead of wealth they’re getting bupkis – with a side of public shaming to boot.

, there are thousands of gamblers losing money to insiders and trading bots. Some fall for malicious tokens designed to steal all the money in their wallets, not just the poker chips they’d anted up.

GREED could have been one of those. To get GREED, over 43,000 Twitter accounts this week authorized one man in Croatia to tweet on their behalf. A further 55,306 wallets signed an intentionally sussy-looking transaction that, in theory, might have let him drain their wallets.

In an interview with CoinDesk, Voshy said he wants to teach crypto traders a lesson, one that focuses on internet security – with maybe a dash of morality and sensibility, too. The thing’s called GREED, after all.

For five days he watched in crypto chat rooms as people conjured up complete garbage tokens – “dollar sign in front of fruit name” garbage – sold it to their friends and released it, at which point “everybody apes in and the token goes to zero.”

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