Botting Scandal Forces FLOKI INU to Drop Second Simon’s Cat Pre-Sale

Floki Inu, known as the “people’s cryptocurrency,” announced today that it has canceled the highly anticipated Simon’s Cat pre-sale due to aggressive attempts by malicious actors to game the system.

The pre-sale, which had initially sold out well before its public launch, was marred by fraudulent activity that disrupted fair participation by legitimate users.

The Floki core team has announced that they will be compensating users affected by the Simon’s Cat presale issues by airdropping $CAT tokens to all Champion-level users.

Floki Inu Cancels Simon’s Cat Pre-Sale Due to Bot Attacks

According to the announcement on X, the Floki team apologized to the community for the “roller coaster” of events surrounding the pre-sale and outlined their decision to compensate affected users.

The pre-sale, which aimed to raise $4.25 million, was initially a huge success, with tickets selling out 12 hours ahead of schedule.

However, Floki discovered that some participants were using bots to gain an unfair advantage, preventing legitimate users – many of whom had purchased and staked $TOKEN weeks in advance – from participating.

In response, Floki revoked $223,815.20 worth of purchases made by these bad actors and attempted a second pre-sale exclusively for TokenFi Champion tier users, who had been negatively impacted.

Unfortunately, the attackers returned with more aggressive tactics, leading Floki to cancel the second pre-sale and abandon plans for a future pre-sale.

Floki Inu expressed his utmost commitment to protecting his community, stating that they

“NEVER allow the bad guys to win against our community of legitimate users.”

The cancellation was widely attributed to Floki as an advocate of his motto of being “the people’s cryptocurrency.”

In response, Team Floki cancelled the second pre-sale and instead paid Team Simon’s Cat the $223,815.20 they should have received.

Additionally, Floki will distribute $CAT tokens to all legitimate Champion Tier users identified in a snapshot on August 20 at 22:00 UTC.

The snapshot captured 4,044 wallets, 337 of which were identified as bots. The remaining 3,707 legitimate users will each receive an airdrop of $55.345 worth of CAT tokens at the presale value, allowing them to avoid having to participate in a presale.

Binance to Facilitate $CAT Airdrop for $FLOKI Holders

Floki stressed his commitment to fairness and protecting his community:

“We want to make it VERY CLEAR that Floki is the people’s cryptocurrency and our vision remains to be the most well-known and widely used cryptocurrency in the world.”

The team also acknowledged the inconvenience caused by underestimating the hype surrounding the launch of Simon’s Cat and reiterated its commitment to doing good for its users.

Initially, Floki Inu announced that Binance, the world’s largest cryptocurrency exchange, would support the next airdrop of Simon’s Cat ($CAT) tokens on August 29, 2024, following a snapshot that Binance will conduct.

Simon’s Cat, which has a total supply of 9 trillion CAT tokens, will launch on the BNB chain.

Floki and DWF Labs are key partners in this venture, having successfully raised $4.25 million in its pre-sale, offering 17% of its total offering to early investors.

In addition to benefiting $FLOKI holders, the airdrop has been extended to Floki Trading Bot users and members of the broader crypto community on major centralized exchanges.

Bot scandal forces FLOKI INU to abandon second Simon’s Cat pre-sale appeared first on Cryptonews.