A meme coin dev unintentionally burned $10 million of investor cash final 12 months with a single misclick, asserting the error on X with a message that’s develop into a part of crypto degen lore: “Oh fuck.”
“There may be nothing I can do to repair this,” the pseudonymous dev posted on the time. “I’m so fucking sorry.”
Now, 19 months later, the dev behind Slerf has lastly been in a position to do one thing to repair it, refunding everybody who participated within the notorious token pre-sale.
In most different industries, setting hundreds of thousands of {dollars} of investor cash on fireplace would lead to strenuous lawsuits, jobs misplaced, and numerous tears. However in crypto, it was become a advertising stunt that rallied group help and despatched the Slerf token hovering to a $740 million market cap, per DEX Screener.
“It’s been a curler coaster, to say the least,” the Slerf dev, who goes by Grumpy, informed Decrypt. “When the burn occurred, I truthfully had nearly no hope of ever recovering the $10 million owed to presalers. It felt like an unimaginable state of affairs. What saved me going was the group’s response.”
As Slerf migrated its contract to increase its complete provide, the meme coin’s X account yesterday introduced that it was lastly in a position to end sending in-kind refunds to everybody who participated within the token pre-sale. The meme coin dev despatched a complete of 53,359.62 SOL, or $10.3 million, to 25,444 wallets. The funds have been collected by a mixture of donations and income derived from buying and selling charges. The refunds have been then slowly rolled out to buyers for the reason that burn, with some not realizing they’d even been refunded.
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“The refund course of ended up taking greater than a 12 months, just because we needed to rebuild from nothing,” Grumpy mentioned. “Each little bit of donations, income, or help we obtained was directed straight towards making presalers complete once more. It’s been 1.8 years of persistence, transparency, and dedication, and I couldn’t be extra pleased with what the group achieved collectively.”
Many Slerf pre-sale members took to X to celebrate their refunds. One posted that Slerf is “the one memecoin that really saved its promise.” The coin immediately stands at a market cap of slightly below $30 million, nicely under its peak.
Slerf was a hyped Solana meme coin that attracted $10 million in Solana for its pre-sale—a way used to lift cash for tokens earlier than launchpads like Pump.enjoyable gained recognition. Grumpy burned all of those funds, unintentionally sending the tokens to an irretrievable deal with, in what he calls “the most important mistake of my life.”
