Here’s How ‘Porn’ Led To Historic Crash Of This Token

Abigal Vee
August 20, 2022
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Martin-Shkreli

A while ago, the $MSI token launched by Martin Shkreli also known as ‘Pharma bro’ on Ethereum, tanked by over 90% in a suspicious rugpull which sold over 160 billion (MSI) tokens. Shkreli recently ‘confessed’ that the hack happened because he downloaded a hacker’s file which he supposed was pornography.

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Trojan Virus embedded in the supposed porn file

The eponymous Martin Shkreli Inu tied to Shkreli’s Web3 project ‘Druglike’ recently got ‘hacked’ which resulted in a $450,000 loss after a wallet associated with Shkreli dumped 162 billion MSI tokens on the market.

Shkreli said he got hacked when someone asked on Druglike’s discord channel. YouTuber Muta Anas posted a video calling out Shkreli for his ‘i got hacked’ comment, Shkreli then reached out to Anas to explain what transpired.

He explained that the suspicious token dump was as a result of a malware he fell for while he tried to download some pornography. According to Shkreli, the file which was named after typical porn titles was not an .mp4, but a .zip file containing a 700-megabyte screensaver.

Shkreli who is just fresh out of jail after he got sentenced in 2018 for hiking the price of a life-saving drug by almost 5000% forayed into web3/cryptocurrencies immediately he got out.

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Shkreli dishes out investment advice on social media

Per Bloomberg, Shkreli has been all over social media seeking an audience for his investment tips. The former chief executive officer of Turing Pharmaceuticals AG, center, has gone from investing in crypto while in prison which he said himself, to dishing out investment takes to people.

The former pharma executive has reportedly been hosting investment question-and-answer sessions with his Reddit retail traders followers, which includes AMC Entertainment Holdings Inc. and cryptocurrencies including Bitcoin and Ethereum.

Shkreli is generally disliked in the U.S after gaining a reputation off of his case in 2018. It’s surprising he still delved back into investment tips almost as soon as he got out when he didn’t even complete his time.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Abigal .V. is a cryptocurrency writer with over 4-years of writing experience. She focuses on news writing, and is skilled in sourcing hot topics. She’s a fan of cryptocurrencies and NFTs.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.