Alright lads and lasses, gather round for a cautionary tale from the depths of the memecoin trenches. Before we dive in, let’s get one thing straight—this isn’t FUD against the community takeover. If anything, some of you poor sods might actually be able to turn this disaster into something real. If you can resurrect this from the ashes, fair play! But before we celebrate, we need to talk about how we got here in the first place. Understanding these scams is the only way we can stop history from repeating itself. Because let’s be honest—THC isn’t the first, and it sure as hell won’t be the last.

Also, full disclosure—I didn’t invest in this myself. I was just watching from the sidelines, popcorn in hand, as the chaos unfolded. It was like witnessing a crypto-themed episode of Black Mirror in real-time.

The Build-Up

It all started with the classic shilling in every crypto subreddit you can imagine. “New community token!” “Get in early!” “This is the next 1000x!”—you know the drill. They had a website, a Twitter, a Telegram, the whole shebang. And what was the call to action? “Join our Telegram to find out more!”

Ah yes, the Telegram—where the magic happens. Or, in this case, where the bots and paid shills gather like a swarm of overly enthusiastic NPCs in an MMO. Sure, there were probably a few real degens in there, but the whole thing reeked of a setup. The way they hyped it, you’d think it was the second coming of Doge himself.

The Launch

At around 7:30 PM UTC, the CA was released, and from there, it was pure entertainment. Market cap shot up and down like a malfunctioning elevator. But within hours, the inevitable happened: multiple rug pulls.

Turns out, 30% of the supply was owned by the token launchers. Shocker! So, in the grand tradition of professional crypto heists, they dumped on the buyers, draining liquidity faster than a Brit downs a pint on a Friday night. It was like watching a train crash in slow motion—horrifying, yet you couldn’t look away.

And who were these masterminds behind the rug? Who knows! Could be some faceless group of Indian or Nigerian scammers running a Telegram farm, some greasy teenagers operating from their mum’s basement, or some middle-aged bloke in a tracksuit living in Dubai off his previous rug-pull winnings. Either way, they were pros at the game.

The result? A peak MC of $1.6 million absolutely obliterated down to around $157k. And yet, people are still bag-holding, praying for a comeback. Bless ’em. The copium levels are off the charts.

Lessons to Take Away

1. New launches are a minefield – If you’re new to crypto, don’t just FOMO in because some Telegram mod says “we go to Valhalla.” Let the hype die down before making a move. Or if you must ape in, grab a tiny bag and DCA instead of going all-in. Or, y’know, just set your money on fire—it’s quicker.
2. Study the scammers – The THC team are pros at this. If you want to avoid getting rekt, analyse how these scams operate. They follow the same patterns over and over again. It’s basically a Ponzi speedrun.
3. Look at token distribution – If one wallet holds a ridiculous percentage, run. Coins like THC make it painfully obvious who’s gonna rug you. If 30% of the supply is in one wallet, you’re not “early,” you’re dinner.
4. Established memecoins with real communities are your best bet – Not shilling, but if you’ve been around, you’ve probably seen Powsche mentioned everywhere. Their OG dev is still around, their token distribution isn’t a joke, and their community is actually active across multiple platforms. Contrast that with THC, where the only development was the founders learning how fast they could empty the liquidity pool.
5. Real projects build, scams don’t – Powsche, for example, has sent community members to Dubai, given away a Porsche, and even developed a bridge from Solana to Ethereum. THC, on the other hand, built nothing except broken dreams and empty bags. Powsche is around 11 months old now, it’s had its ups and downs but the community is second to none.
6. Plath and Pyrate also seem like real communities – Again, DYOR, but these are looking much more promising than the next shady rug launch.

Final Thoughts (Not FUD, Just Facts)

Again, this isn’t about FUDding the community takeover—if anything, that might be the only way for some of you to claw back your losses. Who knows? Maybe you’ll even turn it into something legit. But we have to talk about these scammers so we can all get better at spotting them before they rinse the next batch of newcomers.

I didn’t invest in THC myself, but watching it unfold was like binge-watching a true crime documentary in real-time. Time and time again, I see fresh-faced investors ape into these “next big things,” only to get rekt and then have to CTO (Cut Their Losses) just to recover. The same ones who once shouted “jeets will be punished!” end up becoming jeets themselves because they have no other choice. It’s the circle of life, but with more financial ruin.

So, do your own research, avoid obvious scams, and don’t get seduced by Telegram hype. And for the love of all things holy, if a token looks like a scam, smells like a scam, and acts like a scam—it’s probably a scam.

Stay safe out there, degens. And as always, cheers for reading!