BSD Rug Pull — Developer Sparks 99% Market Cap Collapse from $50M Peak
I believe the developer behind Base Layer Coin (BSD) executed a rug pull, causing the token's market capitalization to collapse by roughly 99% from a peak near $50 million. This looks like a classic crypto rug pull: sudden liquidity removal, developer exit, and an extreme token price implosion.
As an observer, I view this as a severe warning for investors in BSD and similar speculative tokens. The rapid market cap crash and alleged developer action signal a high likelihood that the project has been compromised, leaving token holders with heavy losses and limited recovery options.
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