Ryan Fournier, a MAGA influencer and founder of “Students for Trump”, has been accused of scamming investors out of millions through “rug pulling” a cryptocurrency he created.
In crypto, ‘rug pulling’ refers to a scam where a developer abandons a project and takes all the funds investors have put into the token.
During the short-lived TikTok ban on Jan. 19, a token named “TikTok” was created.
In since-deleted posts on X, Fournier praised the token, encouraging followers to invest in the digital currency.
Upon the announcement of the TikTok token, Fournier posted: “THE TIKTOK COIN WAS RELEASED! Not official, but we made it happen.”
As his followers invested in the token, its value climbed rapidly.
Fournier posted a screenshot of his projected earnings from the coin as the currency climbed in value. The post included a screenshot which suggested Fournier had over $19 million from the cryptocurrency, with the post reading “GOOD GOD.”
The screenshot included his crypto wallet username, @ryanafournier. The post prompted users to believe he held the most amount of tokens.
Shortly after the post, the cryptocurrency crashed and investors began selling their remaining tokens.
Users believe the currency crashed after Fournier sold his tokens, thereby “rugging” users.
Following the crash, Fournier shared his side of the story on his X account.
Fournier wrote, “I had someone reach out earlier, and they wanted to make a coin to support TikTok’s comeback. That turned out to be a chaotic mess, because I was scammed by said individual.”
He also apologized to the community, saying, “I truly do apologize to everybody that was affected and putting money into that. I’m gonna stay away from the crypto stuff until I get a better understanding of who to trust. Be safe out there and make sure you’re protected.”
Despite his protests, the crypto community remains convinced Fournier rugged them.
In response to his apologetic post, one user wrote, “bro you rugged the shit.”
Fournier responded, “I’m very new to crypto and I promise you I didn’t rug it.”
In a later explanation, Fournier explained that he “had to sell” after the person who encouraged him to invest told him they were going to sell.
Users remain unconvinced.
One user reacted: "You just admitted to millions of people you rug pulled a project with zero thought given to it. You need to be fired and thrown in jail. Ignorance does not excuse the crime you committed…"
Another lambasted Fournier, writing: “So how many millions did you walk away with? How many people got fucked over because you and your nameless dev buddy rug pulled the coin? Disgusting and should be investigated.”
Others have compared the TikTok token to other meme coins, including Hawk Tuah Girl’s HAWK coin.
One user wrote, “Wait. Ryan Fournier…….released a crypto coin, got rich then rug pulled it? Hawk, Trump, Melania...Y'all... a grifter economy is unsustainable. I need to start a crap coin before we have a great depression over this.”
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