Unauthorized Ozempic meme coin rugpulls millions of traders | Protos
A memecoin “OZMPC”, unaffiliated with the trending blood sugar drug, launched on Coinbase’s blockchain, Base. Within an hour, CoinGecko’s Terminal warned that the Ozempic Meme coin had precariously thin liquidity across its trading pairs. The token OZMPC is an abbreviation of Ozempic, yet is completely unauthorized by Novo Nordisk , the Danish maker of the Type 2 diabetes prescription drug. Novo Nordisk has not bothered to comment on the coin. The pharma giant owns global rights to the drug Ozempic and could assert its legal rights against the operators of this unlicensed crypto token. OZMPC’s creator imposed a punishing, 70% tax on buy transactions during its launch phase. This instantly drained the majority of early buying into the project. The token has fallen 65% from its all-time high and now trades far below one penny. With a negligible market capitalization, Gecko Terminal prominently warns potential buyers that its vanishingly thin liquidity could lead t...