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Tokens drop from 120 million USD to tens of millions, Believe founder faces lawsuit
【Blockchain Rhythm】Another project falls into a legal whirlpool. The well-known law firm Burwick Law recently announced that they will officially sue Believe and its founder Ben Pasternak, and have opened registration channels for affected community members.
The incident dates back to October. At that time, the Believe ecosystem was still promoting the upgrade migration from LAUNCHCOIN to BELIEVE tokens. But the reality is harsh—the BELIEVE token’s market cap has dropped from a historical high of $120 million to only $10.15 million. Even more heartbreaking, the daily trading volume is only $195,400, and liquidity has almost become a decoration.
Burwick Law is not a newcomer in the field of crypto litigation. They have previously handled cases for projects like LIBRA, M3M3, pump.fun, and others. This lawsuit against Believe is sure to become another focal point in the industry. For token holders, this is also a profound lesson—the market risks are always present.
1.2 billion drops to tens of millions, this move is brilliant
Burwick Law always comes prepared, no empty-handed, waiting for the follow-up
This liquidity clearly shows players got cut
Can you stop scamming already? I'm mentally exhausted from it
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Ben, you better be careful, Burwick Law is not to be underestimated.
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The phrase "liquidity has become a decoration" really hits hard. Who the hell would take this position?
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pump.fun has been sued, and now it's Believe's turn. This law firm is really watching these projects just like us.
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Honestly, upgrades and migrations always go wrong. I don't know when we'll see a migration that isn't a disaster.
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The registration channels are all open. Can the community get their losses back this time? Honestly, I’m not optimistic.
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From 120 million to tens of millions, how many people had to cut their losses? Heartbreaking.
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Burwick Law is planning to sue all the bad projects in the crypto space one by one.
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Liquidity is virtually nonexistent, with daily trading volume less than 200,000, this is heading for a complete wipeout.
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Burwick Law has stepped in, this law firm is serious, the previous pump.fun case did not disappoint.
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LAUNCHCOIN upgraded like this, truly amazing, no wonder the community is suing.
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No way, why hasn't the founder run away yet? Going straight to court, quite bold.
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Once again, the project team is shooting itself in the foot, the token has fallen to this point and is basically beyond saving.
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Registration channels are open, it looks like this lawsuit is real, victims should not miss out.
The term "liquidity manipulation" is used perfectly; it's basically a dead coin.
Burwick Law stepping in indicates this time the situation is not small; history is repeating itself.
People get sued before they reach the top, this time Burwick Law is probably going to make another big profit.
Ben, this guy probably wanted to run, but got blocked. Hilarious.
Liquidity becomes a decoration? That means no one wants this coin anymore.
I'm really tired of this kind of project, there's a new scheme to scam people every day.
It's the same old trick of upgrade migration, always the same routine
Burwick Law has stepped in, Ben probably can't escape this time
Liquidity setup haha, that’s too straightforward
This law firm specializes in dealing with all kinds of air coins, Believe is probably going to fail
19.54K daily trading volume? Who still dares to touch this
The crash started in October, and now they are suing, too late
Ben must have lost a lot of money, just watching
I felt something was off with the LAUNCHCOIN wave, and I was right
Another project team has run away, when will it end
Burwick Law’s team is quite professional, they’ve won several cases before
This is Web3, today still riding the wave, tomorrow see you in court