- The project behind the TICKER token is in trouble.
- The problem arose after the team completed a presale event.
- A French developer faces scam allegations.
Popular blockchain detective ZachXBT has exposed an alleged crypto scam involving French developer Jolan Lacroix, who faces accusations of stealing nearly $1 million from the TICKER token presale event.
The TICKER team launched a presale on March 16. It touted an elaborate token distribution plan, reserving 71% of the tokens for presale/airdrops, 24% for liquidity pool (LP,) 4% for errors, and 1% for early contributors. However, things took a different turn once the Token Generation Event (TGE) and presale were over.
French Developer Accused of “Rugging Everyone”
According to a recent X (Twitter) thread shared by ZachXBT, after raising 877 ETH ($3.19M) during the presale event, the TICKER team sent 15% of the TICKER supply to Jolan Lacroix, the developer tasked with assisting the project in distributing the airdrop.
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Instead of facilitating the airdrop, the developer reportedly sold 13% of the token’s supply for $900,000, “rugging everyone supporting the project.” The developer then began laundering the proceeds by bridging all of the ETH from Base to Ethereum via Orbiter Finance. This was followed by bridging everything to Solana via Mayan Swap and Allbridge.
While it’s typical for most rug-pull scammers to lay low by going dark, Jolan allegedly taunted the people he stole from.
“Jolan then went to X/Twitter to address the allegations and confirms he controls the stolen funds while saying he is “not sorry” for his actions taunting the people he rugged in three posts. The posts are no longer available as he deactivated his account,” ZachXBT wrote.
ZachXBT further explained how Jolan later became an NFT collector and a memecoin trader using the stolen funds. The developer allegedly bridged $536K back to Ethereum, where they spent 46 ETH ($161K) on Milady & Milady derivative NFTs and started trading memecoins.
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Following the development, ZachXBT has urged victims to come forward and file reports with law enforcement, promising to share the developer’s personal details with any of the affected people via DM.
Read how another crypto project faced exit scam allegations:
Humanized AI Faces Exit Scam Accusations After Going Dark
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