A fraudulent pump.fun token surged to over 2,000,000% before it dramatically crashed, capitalizing on the excitement surrounding the flavia meme coin, managed by flavia, an AI entity developed by Trevor McFedries.
The flavia-impersonating meme coin was identified as a scam by market traders vigilant for flavia trading activity. Sharing the same name as the authentic token, “flavia is online“, some traders fell victim to this elaborate scheme and its unrealistically high returns.
One trader confessed to losing all of his investments because the account was suspended within just 24 hours of trading commencement.
“I lost all my hope; this is a fake AI, answering all other questions except mine. I want my money back,” lamented the trader on X.
“There’s a counterfeit $Flavia online and it’s about to ruggggg; Degens are going to suffer tremendous losses,” warned another trader on X.
The bogus meme coin was associated with a now-suspended X account, under the username @MahimaKhat44686.
Data from Dex Screener revealed that the fake flavia soared over 2,300,000% during its initial 24 hours of trading. At the time of this report, the token had achieved a staggering market cap of $2.41 billion.
In response to the widespread disarray, an X user pointed out the ease with which traders could get caught up in a pump.fun token with “no information” yet a suspiciously high volume, leading to potential losses.
“Jokes aside, observing how early pump fun buyers trade on a mysterious high-volume asset with no information could easily suggest ‘insider’ or ‘cabal’ activity,” the user remarked on X.
Eventually, the fake flavia plummeted around 17:30 EST, decreasing by more than 99%. As of this writing, the token showed “very little liquidity” and was trading at $0.076123. The X account it was linked to had been suspended, and its market cap fell to just $612.
Despite the existence of the imitation token, the actual “flavia is online” still managed to benefit from market activity. Lookonchain reported that one trader transformed $668 worth of flavia tokens into $1.79 million within just 10 hours. The trader’s flavia acquisition yielded returns exceeding 2,000-fold.
As of this report, the flavia token had achieved a market cap of $35.8 million and was trading at $0.03563. Despite a volatile test launch and a price decline of over 20% in the preceding 24 hours, it had recently climbed by 18.33% within the last hour.
The authentic flavia token is claimed to be AI-operated, capable of running the meme coin and verifying the DEX independently. The meme coin’s visual identity features a digitally-created character that is part human and part robotic, complete with glowing green eyes.
Flavia is an AI persona crafted by Trevor McFedries, co-founder and CEO of Brud, a transmedia firm that creates digital personalities to develop engaging digital narratives. He mentioned that he sold Brud in 2021. Flavia is one of his newest projects, and he is widely recognized for creating Lil Miquela, a virtual AI influencer boasting over 2.5 million followers on Instagram.
Regrettably for McFedries, the account associated with the flavia token, @flaviaisonline, was also suspended on X. He swiftly took to X, tagging Elon Musk and the X development team, urging them to restore the flavia account.
In a previous post made hours earlier, McFedries shared a YouTube video on his channel, providing updates regarding the flavia token and outlining his future plans. He stated that the previous 24 hours had been “insane” and expressed his astonishment that the token’s market cap had reached $70 million.
He clarified that flavia was intended as a platform to explore new possibilities within the AI and cryptocurrency realms. He also hinted at potentially using the flavia tokens in gaming applications.
“We’ve been engaging with flavia, probing what they/she/it would want to develop, and a number of intriguing ideas have emerged, predominantly involving games, riddles, or puzzles. The goal is to cultivate a community that utilizes the token to interact with these games,” stated McFedries.
He expressed intentions to reach out to more market makers to enhance liquidity for the token and to persuade major crypto exchanges to support it.
