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Dodgetuber Mark Wallace is facing allegations of a "rug pull" after his new crypto currency "AcceptCrypto" surged 12,000% then tanked right after its launch on Wednesday.
According to Crypto Website Decrypt, "a 'rug pull' is a type of exit scam where a crypto project funds from the public only to disappear suddenly without fulfilling its promises, usually a token drop."
While Wallace claims that the AcceptCrypto launch was not a scam, Dodgecoin creator Billy Markus claims the Wallace is a "scammer." Markus had previously clashed with Wallace over his initial naming of the new cryptocurrency "Accept Dodge." When Markus confronted Wallace over the deceptive name, Wallace then changed it to "AcceptCrypto."
Wallace is currently denying all responsibility. He claims that he believes what happened was a result of a glitch or oversight on behalf on Solidity Finance. He is asking for an audit of the smart contracts he has with the company.