You're Gonna See The Brooklyn In Me
- Memecoins
On January 12 2026, former New York City mayor Eric Adams launched "NYC Token" as a memecoin to fund antisemitism initiatives. Buyers piled in but within hours the team began pulling liquidity as the price peaked, extracting around US$2.5 million and causing the token's market cap to fall from roughly $580 million to below $100 million. Blockchain analytics firm Bubblemaps observed large liquidity withdrawals from insider wallets, leading many to accuse the project of a rug pull. The team denied wrongdoing, claiming they were rebalancing liquidity, but investors felt misled.
Incident Details
- Type
- RUG PULL
- Funds Lost
- $480M
- Status
- Ongoing
Investors suffered major losses. Eric hasn't shown his Brooklyn side yet.