The Shit Coin Saga

This story is 100% true and the few remaining survivors of it are still in a telegram group to this day.

I got into bsc shit coins in the summer of 2021 and lost $100 on a failed project called Yeet token after I made a wrong turn and wound up in the cryptomoonshots sub Reddit. After the token failed one of the investors from that project said he was creating his own token and shilled it in the Telegram group, he said he was working with his friend who had been developing a platform ripe with utility and this would be the token that the ecosystem would use. It was called Vaivo and I thought what the hell, and threw in a few dollars. My memory tells me it was $25 but my gf insisted it was a lot lower and around $11, basically the last remaining bnb I had taken out from Yeet token I put into this project. I don’t remember the numbers exactly but I got in well under 1k market cap and I think the ath was around 6.8m market cap...that’s a fuck load of x’s.

I had no idea what I was doing and didn’t have a grasp on basic crypto fundamentals. I was gambling with money I didn’t care if I lost and learning as I went. Basically, I was a scammers wet dream.

After putting in my measly $10 - $25 worth of bnb I woke up the next morning with 8k ish and freaked out. I showed my gf and we contemplated what to do. Now, you have to understand these shit coin Telegram groups operate like cults with everyone proclaiming 200million market cap by end of week. I was new and naive and thought why should we sell for 8k? Everyone is saying it will go up, so I hold, right?

The next morning I woke up, checked PancakeSwap and saw my 8k was now 25k. This is 25k USD btw and my initial investment was 10 - 25 in Canadian dollars, so this is well over 30k Canadian at this point. Again, the telegram channel is going nuts with everyone saying it will only go higher. Me and my gf are sitting here thinking we’ll be able to buy a house on a $25 investment I made 3 days prior. It felt surreal. The co-developer of the project gathered all of us whales and made sure we didn’t sell. Telling us that millions will be spent on marketing and that Vaivo is backed by a legitimate company. I held over 2% of the total supply and if I sold, the coin would tank. I wasn’t even the biggest whale, one guy had bought in for a few hundred and had over 200k USD at ath. Fuck, we were idiots, overdosing to the tits on hopium.

The next day I woke up to a text at around 6am from my gf who was also monitoring the token price on poocoin, it simply read “we have nothing”.

This was my first lesson on something that I became all too familiar with in the coming months, the rug pull. That night, while I was sleeping the co-dev had pulled out all of the token liquidity after he sold his very large bag that was spread across hundreds of wallets that no one knew he had. He was literally air dripping himself trillions of free tokens and selling them. We figure he made out with a few hundred grand.

My 25k was now worth pennies and no one could even sell their pennies because there was no liquidity left. I was gutted, but it’s not like I lost anything and I had managed to pull out a little here and there and that amounted to around $2200 Canadian dollars on an investment of 10-25 ish. Not Too shabby.

That’s not the end of the story though. The main dev came back and claimed he had no idea that his friend had done this. He vowed to chase him down, get justice, and finish the project. He would air drop all of us our tokens on the relaunch and all would be good.

This motherfucker even streamed himself developing the token on twitch, he had his daughter and his wife make appearances on stream. He was completely doxxed as well - his full name, picture of his Brazilian business license, social media accounts and everything. We all trusted him, so when he held a pre sale, everyone bought back in and he raised another 30k or so that would be used for marketing and liquidity. Guess what, he fucking took the 30k from the pre sale and dipped. The fabled double rug pull was complete.

To add insult to injury he didn’t even bother to delete his Instagram after he stole from everyone a second time and posted pictures of him partying with big booty Brazilian chicks and spending our money. He was hunting milfs with my fucking money and it honestly made me laugh. This guy robbed us blind and then gave us front row seats to how he was spending his ill gotten gains.

In the end it was my fault. I was inexperienced and easily manipulated. I was convinced by the developers that if I had sold my bag I’d kill The project and ruin it for everyone, so I held because I felt too guilty to sell, I held right into the fucking ground. I finally learned how to stop investing like a moron after about the 10th rug pull and now I stay far away from shitcoins.

I found one screenshot I took of my balance. It says 15k usd but it went up to 25kusd. Honestly, it could have been even higher than that at ath since to check the price I had to use PancakeSwap, so I wasn’t able to monitor it in real time. The token had a few different launches and iterations but it went under Vaivo and then VaivoX after that. The dude is still posting on his Instagram to this day and nothing ever happened to him legally.

https://picbun.com/p/azK8rCyv

Side note: I was in another token after Vaivo called SuperADA. I bought in to that one at 3k market cap and it hit over 800k ath, before it dumped. I’m like the shit coin rain man.

Just felt like typing this out finally and telling the story. It’s hilarious and Tbh I probably would have lost most of it if I had sold. I was a moron trying to get rich quick in the beginning and was just clicking buttons like a mouth breather.