Slerf creator burns $10m raised from investors due to ‘mindless misclick’

A Solana-based memecoin dubbed Slerf accidentally burned the entire stake of $10 million in SOL tokens raised from presale investors.

Anonymous creator of the so-called Slerf (SLERF) memecoin based on Solana accidentally burned $10 million worth of SOL tokens the project raised from liquidity providers and the tokens that were set aside for the airdrop.

In an X thread on Mar. 18, the project’s account on X wrote that the incident was a result of a “simple mindless misclick,” when the developer was trying to burn some of the tokens using Solana’s web tools. The operation eventually resulted in the revocation of the mint function, leaving investors without the SLERF tokens they were promised.

“Im sorry to the people who contributed to the presale and im sorry to my team who were helping me for the past 3 days. I don’t see a fix currently. Don’t even think it’s possible.”

Slerf

Despite the setback, market speculators have aggressively pumped the token, driving its value up by over 5,000% to $1.26, according to data from DexScreener. Liquidity for the token has surged past $170 million. According to the Slerf official website, the top contributor invested 1,000 SOL tokens, valued in a moment at over $200,000.