American rapper Ty Dolla $ign accidentally burned $500,000 worth of SUNDOG tokens when he made a transfer to the wrong Tron address. However, minutes later, Justin Sun sent the American rapper the funds back.

Accidental Transfer of SUNDOG Tokens

On his X account, Ty Dolla $ign revealed that he sent 1.6 million SUNDOG tokens to his Tron wallet on October 8, but the tokens did not appear. Upon closer inspection by X users and crypto.news, it was discovered that the rapper mistakenly transferred the tokens to the contract address instead of his TRX wallet.

In a previous tweet, the rapper had mentioned purchasing the Tron meme token for $500,000, only to lose it hours later due to the error in sending the funds to the incorrect crypto wallet.

“So it’s gone?? What am I supposed to do now?”

Many internet users tried to explain to the rapper what happened to his SUNDOG tokens, with some even suggesting he should buy Shiba Inu tokens instead. However, there was no recovering the lost SUNDOG tokens.

Justin Sun’s Assistance

Minutes after the incident, crypto entrepreneur and SUNDOG ambassador Justin Sun sent the funds back to Ty Dolla $ign.

“Don’t worry, I’ve got you covered. Sent you $500K TRX so you can get back in the game.”

Rapper’s Skepticism About Meme Coins

In the days leading up to the incident, Ty Dolla $ign expressed skepticism about the hype surrounding meme coins.

“What’s up with all these memecoins tho? I keep hearing about them everywhere. Is it all hype or people really making bread off this?”

He later mentioned his intention to invest $500,000 in a meme coin, to which boxer Ryan Garcia responded, “Bet on Sundog. Some mafia cult meme lol.” This led the rapper to the significant loss of 1.6 million SUNDOG tokens.

Other Notable Crypto Mistakes

Ty Dolla $ign is not the first public figure to experience a significant loss in cryptocurrency transactions.

  • In March 2024, the anonymous creator of the Slerf memecoin accidentally burned $10 million worth of SOL tokens raised from liquidity providers and tokens set aside for an airdrop. The developer admitted it was a “mindless misclick” while using Solana’s web tools.
  • In another incident, NFT collector Brandon Riley accidentally destroyed a CryptoPunk valued at $129,000 while attempting to create a proxy wallet in March 2023.

For more updates on cryptocurrency news, explore Global Crypto News.

#InvestSmart #CryptoMarket

Post Views: 2