Siqi Chen’s ZERO token briefly reached a market value of 6,000,000 USD but quickly collapsed by almost 70%. This drastic drop has raised questions about the legitimacy of the launch and the role of Chen in the fallout.
Despite Chen’s warning about the token’s imminent value loss, investors rushed in. This behavior resulted in accusations of a rug pull, prompting scrutiny over Chen’s crypto history and his promises to reimburse affected investors.