A stablecoin project associated with the Scroll ecosystem has experienced a dramatic price drop of 98 percent in a single night. Such a significant decline has led to concerns among the community and investors, with many suspecting fraudulent activities may be the cause.
The sudden and severe decrease in value highlights the potential risks involved with investing in altcoins which can be subject to market manipulation and other unscrupulous activities.
This event underscores the importance for investors to conduct thorough due diligence before investing in any cryptocurrency projects, especially those with less established reputations.
