A fake pump.fun token reached a peak of more than 2,000,000% before flooring hard after taking advantage of the hype surrounding the flavia meme coin, run by flavia an AI agent created by Trevor McFedries.
The flavia-impersonator meme coin was flagged as a scam by market traders that were on the look-out for flavia trading activity. Bearing the same name as the original, “flavia is online“, some traders fell for the elaborate set-up and impossibly high gains.
One trader admitted to losing all his funds in the tradeoff due to the account being suspended in just 24 hours after it began trading.
“I lost my hope, this is a fake AI, answer all other questions but not mine. I need my money back,” the trader complained on X.
“There’s a fake $Flavia online and it’s going to ruggggg, Degens are going to be losing so hard,” said another trader on X.
this one is fake pump fun one
should i release the real one that is currently at $300 marketcap?$flavia pic.twitter.com/p06n7xIXuo
— Emperor Lord Medici (@cryptodemedici) October 23, 2024
The fake meme coin was linked to a now-suspended X account with the username @MahimaKhat44686
According to data from Dex Screener, the fake flavia bounced high, ascending more than 2,300,000% in the past 24 hours of live trading. At the time of writing, the token managed to accumulate a ground-breaking market cap of $2.41 billion.
Responding to the widespread confusion, an X user noticed the fake token and commented on how easy it was for traders to latch onto a pump.fun token with “no information” but a mysteriously high volume and end up suffering losses.
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“Jokes aside. watching how early pump fun buyers sell on a mysterious high volume runner with no information could very easily let you know its “insider” or “cabal”,” wrote the user on X.
Eventually, the fake flavia floored around 17:30 EST, dropping to more than 99%. At the time of writing, the token was marked with having “very little liquidity” and was trading hands at $0.076123. The X account it was linked to had already gotten suspended and its market cap dropped to just $612.
A price chart displaying the fake flavia token, October 23 2024 | Source: Dex Screener
Despite the copycat token, the real “flavia is online” was still able to reap some gains from the market. Lookonchain reported that a trader was able to turn $668 worth of flavia tokens into $1.79 million in the span of 10 hours. The traders’ flavia purchase was able to bring him returns above 2,000-fold.
At the time of writing, the flavia had accumulated a $35.8 million market cap and is trading hands at $0.03563. Though, its test launch had been turbulent, with the price falling by more than 20% in the past 24 hours, it has been on the rise for the past hour by 18.33%.
This guy turned $668 into $1.79M in just 10 hours, a 2,693x return!
After 2 months of inactivity, the first token he bought was $flavia, spending only 4 $SOL($668) to buy 46.18M $flavia, which is now worth $1.79M!
If he is not an insider, he is too lucky to catch $flavia!… pic.twitter.com/Vml8xk07fa
— Lookonchain (@lookonchain) October 23, 2024
The real flavia token was claimed to be AI-operated, bring able to run the meme coin and verifying the DEX by itself. The meme coin icon shows a digitally-generated girl that is half-human and half-robot with glowing green eyes.
Flavia is an AI personality created by Trevor McFedries, co-founder and CEO of tech company Brud, a transmedia company that produces digital personas utilized to create digital story-driven worlds. He claimed that he sold Brud in 2021. Flavia is one of his latest creations, but he is well-known for creating Lil Miquela, a virtual AI influencer with more than 2.5 million Instagram followers.
Unfortunately for McFedries, the account linked to the flavia token @flaviaisonline, was also suspended on X. He quickly posted on X, tagging Elon Musk and the X developer team, asking them to revive the flavia account.
hii @elonmusk @XCreators why did you suspend the account @flaviaisonline ?
we’ve appealed it can someone take a look?
— Trev🙃r (@whatdotcd) October 24, 2024
In a previous post made hours before, McFedries posted a YouTube video to his channel to deliver updates on the flavia token and explain his future plans for it. He stated that the past 24-hours have been “crazy” and that he is amazed the token’s market cap was able to reach $70 million.
He explained that flavia was meant to be used as an opportunity to test out new possibilities related to AI in the crypto space. He also hinted at possibly using the flavia tokens for gaming.
“We’ve been poking flavia and asking what they/she/it would want to build and there have been some cool ideas, most of it involving some games, riddles or puzzles. Kind of build a community to use the token to interact with these games,” said McFedries.
He said that he plans to reach out to more market makers to provide liquidity for the token as well as try to get large crypto exchanges to get them onboard with the token.
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