According to on-chain sleuth Zachxbt, the official Twitter account of the Solana-based decentralized finance project Serum, which had over 200,000 followers, has been renamed ‘Luka.’
The original Serum account is speculated to have been sold to a different user since all the previous tweets have been deleted.
Sharing a screenshot of the account, ZachXBT revealed that its PFP avatar was replaced with Milady NFT and was used for promoting “shitcoins.”
For the uninitiated, Serum was founded in August 2020 by a consortium that included the Solana Foundation as well as the now-collapsed Sam Bankman-Fried’s FTX and trading desk Alameda Research.
Serum received funding from Multicoin Capital alongside FTX.com and FTX US.
It was once heralded as a core decentralized exchange platform and liquidity provider for Solana’s DeFi ecosystem.
The events leading up to FTX’s bankruptcy filing forced Solana DeFi projects like Raydium and Jupiter to cut off ties with Serum.
Several exchanges, such as Upbit and Binance, delisted Serum from their platforms. Soon after, the project’s native token – SRM – also lost over 98% of its value since its all-time high in September last year. It was assumed that the project ended.
Subsequently, a community-driven fork of Serum’s V3 program was launched and rebranded as ‘OpenBook,’ which has over 5k followers on its Twitter account.
The post FTX-Linked Project Serum Shilling Shitcoins on Twitter: Report appeared first on CryptoPotato.
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