By Key Points
- Mario Nawfal ROSS Token Rug Pull Triggers $7M Crypto Scandal.
- ROSS token hit a $7M market cap before crashing 82.72%.
- Nawfal’s team claims an unauthorized person made the post.
- The crypto community remains skeptical due to Nawfal’s past controversies.
Crypto entrepreneur Mario Nawfal is at the center of yet another controversy, this time over allegations of a $7 million meme coin rug pull involving popular streamer Adin Ross. The incident started when a now-deleted tweet from Nawfal’s X account, @RoundtableSpace, claimed Ross was backing the Solana-based ROSS token.
so @MarioNawfal just posted a fake “partnership” with Adin Ross for a memecoin,
then rugs the coin from $7m to 0, and deletes all the tweets…
bruh pic.twitter.com/Xjmb472aPO
— lyxe (@cryptolyxe) March 18, 2025
Within just 20 minutes, the tweet was deleted, but the impact was immediate. The token saw a meteoric rise, reaching a market cap of $7 million, only to crash by over 82% shortly after. Many in the crypto community are now calling this a deliberate pump-and-dump scheme, designed to lure in unsuspecting investors before pulling the rug.
Crypto Community Calls Out Possible Fraud
The incident was quickly flagged by X (Twitter) user @cryptolyxe, who shared screenshots of the original tweet along with price charts confirming ROSS’s dramatic crash.
In response, Nawfal’s team issued a statement claiming that an unauthorized team member, @hardsnipe, made the tweet without approval. They further asserted that once they discovered the post, they acted quickly to delete it.
Later, Nawfal himself claimed that his account had been compromised, writing:
THIS ACCOUNT WAS COMPROMISED
Someone got access to both this account and @Crypto_TownHall and posted a fake CA yesterday and today
The post yesterday was deleted and a correction made in time to avoid any damage before the scam token launched
Today’s post was deleted…
— Mario Nawfal’s Roundtable (@RoundtableSpace) March 18, 2025
However, many within the community remain skeptical, pointing to Nawfal’s history of promoting questionable projects.
One user, @nftkeano, remarked:
this is literally your 3rd rug this month stfu lmfao
— Keano. (@nftkeano) March 18, 2025
Further fueling the controversy, Adin Ross’ team denied any involvement in the ROSS token, suggesting that the partnership was completely fabricated.
Meme Coin Rug Pulls Are Becoming More Common
The ROSS rug pull is just the latest in a growing number of meme coin scams. In recent months, several high-profile figures and projects have been accused of similar pump-and-dump schemes.
Just weeks ago, the BNB Chain Meme Launchpad was exploited again, leading to multiple rug pulls. Investors saw their funds vanish as bad actors took advantage of the hype surrounding meme coins. Read more about the BNB Chain exploit here: BNB Chain Meme Launchpad Exploited Again.
Similarly, Kanye West’s X account was allegedly sold and used to promote Barkmeta, a meme coin that quickly collapsed, leaving investors with nothing.
Even Barstool Sports’ Dave Portnoy faced backlash after being accused of dumping the GREED token on investors. And in yet another case, the LIBRA meme coin team is facing a lawsuit for allegedly misleading investors. Read more about the LIBRA lawsuit here: LIBRA Lawsuit Filed Against Meteora.
The increased frequency of these scams highlights the risks associated with meme coin investments, particularly those linked to influencers and celebrities. While some projects are legitimate, many others are designed to manipulate the market, leaving retail investors at a loss.
Crypto Market Faces Increased Risk Amid Growing Scandals
The broader crypto market is also dealing with uncertainty, as large-scale selloffs and questionable projects continue to create instability. Recently, concerns about MicroStrategy’s massive Bitcoin debt raised fears that a major BTC selloff could be imminent. Learn more about the MicroStrategy Bitcoin crisis here: MicroStrategy’s Bitcoin Debt Crisis.
Additionally, Ethereum’s price struggles have continued as whale activity drops, signaling potential market weakness. Read more about Ethereum’s current price movements here: Ethereum’s Price Struggle Continues.
ROSS Price Performance. Source: GeckoTerminal – Techtoken
As scams like the ROSS token rug pull become more frequent, investors must remain vigilant and conduct thorough research before investing in any crypto project. The crypto world is full of opportunities, but it’s also rife with risks, and stories like this serve as a stark reminder of the dangers lurking in the market.
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