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Crypto Bro Genius: Friend.tech Admins Transfer Control to Null Address, Token Price Obligingly Plummets by 26%

News 2 Doug Martinez September 9, 2024

A crypto bro sits at his desk with a shocked expression as he stares at a plummeting graph on his computer screen behind him. His chair is tipped over, papers are scattered everywhere, and a red 'X' marks the FRIEND token price chart. In the background, Ethereum's null address burns in flames, surrounded by falling tokens.

The crypto bros strike again! This time it’s friend.tech, a social media platform that thought they could just magic up some value where none existed (sound familiar?). They transferred their admin control to Ethereum’s null address because… wait for it… they wanted to prevent changes to fees or functionality in the future. Yeah right, and I’m sure the 26% dive of their token was completely unrelated.

Source: cointelegraph

Crypto platform Friend.tech sees token dive 26% following admin transfer
https://cointelegraph.com/news/friend-tech-token-plummets-smart-contract-control-null-address
The token for crypto social media platform friend.tech has plummeted after its team transferred the admin and ownership of its smart contracts to Ethereum’s null address — permanently relinquishing any control over them. The transfer, made on Sept. 8, was made to “prevent any changes to their fees or functionality in the future” friend.tech said on X the same day. The platform’s token, FRIEND, dropped by nearly 26% in the […]

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About the author

Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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