Fake Microsoft Token Plummets 96% After Reaching $80M Market Cap
A fraudulent cryptocurrency token impersonating Microsoft collapsed spectacularly, shedding 96% of its value within hours of peaking at $8,300. The token, which unlawfully appropriated Microsoft’s branding, briefly achieved an $80 million market capitalization fueled by speculative frenzy and investor negligence.
Trading volume remains elevated at $54.4 million despite the crash to a $3.8 million market cap, suggesting continued panic selling. CoinMarketCap has not verified the project, with its profile displaying unverified branding elements.