Crypto entrepreneur Mario Nawfal is facing allegations of orchestrating a potential rug pull involving the prominent streamer Adin Ross. This controversy began when Nawfal's X account, @RoundtableSpace, posted about an alleged partnership with Ross to launch a Solana-based token named ROSS. The initial post was quickly removed, prompting concerns among the crypto community about possible fraudulent activities.

On Tuesday, @RoundtableSpace announced the launch of the ROSS token, stating that Adin Ross was supporting the project. The announcement included a contract address, which some interpreted as proof of legitimacy. However, just 20 minutes after the announcement, the post was deleted, immediately raising suspicions within the crypto community.

User @cryptolyxe brought attention to the situation, accusing Nawfal of fabricating a partnership with Ross to inflate the token's value. Screenshots shared by cryptolyxe showed the original tweet along with a price chart indicating an 82.72% price drop, suggesting a potential rug pull. A rug pull occurs when early promoters artificially boost a token's value and then abandon it, leaving investors with worthless assets. According to cryptolyxe, the token's market capitalization reached $7 million before plummeting to zero.

Following the incident, @RoundtableSpace released several statements denying any misconduct. They claimed that an unauthorized individual from their team, @hardsnipe, had posted about the token without permission. Nawfal's team stated that they promptly deleted the post and emphasized that there was no official partnership with Adin Ross. Nawfal later alleged that his account had been hacked.

Further clarifications were provided, indicating that once the breach was detected, delegate access was revoked, and passwords were changed to prevent additional unauthorized posts. Despite these explanations, many in the crypto community remain skeptical. Users such as @nftkeano highlighted Nawfal's past involvement in promoting questionable crypto projects, casting doubt on whether this incident was accidental or deliberate.

Adding to the complexity, Adin Ross' team denied any association with the token. Internal chat logs suggested confusion regarding Ross' involvement, supporting the claim that the partnership was never legitimate.

While Nawfal's team asserts that the ROSS token post was an error made by an unauthorized team member, the crypto community continues to express skepticism. The rapid deletion of the tweet and the abrupt decline in the token's value have sparked questions. Nawfal's history of controversies further complicates matters, leaving many to question the authenticity of the event.

Regardless of whether this was a genuine mistake or an intentional scam, the incident underscores the inherent risks in the crypto space. Three weeks prior, rumors spread about the rumored sale of Kanye West's X account, which was allegedly used to promote the Barkmeta meme coin, sparking concerns of another potential rug pull.

This situation has reignited discussions about the role of celebrities in crypto scams. Additionally, Dave Portnoy, founder of Barstool Sports, faced criticism over accusations that he orchestrated a GREED rug pull. After promoting the coin, Portnoy reportedly sold a significant portion of his holdings, resulting in a price collapse that left investors at a loss.

Reports also indicate that insiders connected to the LIBRA meme coin have ties to other controversial projects, including the MELANIA coin, which similarly faced allegations of rug pulls. This trend highlights the dangers investors face when purchasing tokens linked to high-profile individuals or influencers.

GeckoTerminal data reveals that ROSS has dropped by more than 95% in the last 24 hours and is currently trading near its lowest value.

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