The launch of $Jota Coin, a cryptocurrency introduced by popular Nigerian skitmaker Chukwuebuka Amuzie, also known as Brain Jotter, has quickly turned into a fiasco.
Just hours after its release on September 1, the coin reportedly lost almost all of its value on The Open Network (TON), a blockchain platform originally developed by Telegram.
Designed to support decentralized applications with fast transactions and low fees, the TON platform uses its native cryptocurrency, Toncoin (TON).
The sudden crash of $Jota Coin has sparked allegations of “rug pulling,” a scheme where developers abruptly withdraw funds, leaving investors with worthless tokens. This has led to a wave of criticism online, with many accusing Brain Jotter of orchestrating yet another celebrity-backed scam in the volatile cryptocurrency market.
Reactions have poured in from various corners of the internet, with crypto enthusiasts and analysts mocking the project’s quick collapse. A crypto analyst known as CryptoPidgin Analyst wrote on X, “The $Jotter coin no even last 2hrs 💔😂🤣😂 Davido own even last 3days.😪 Another sign to let u know say we don dey bear market back.” Other users expressed disbelief, questioning whether Brain Jotter had intentionally misled his followers.
