The value of $GROK, a cryptocurrency inspired by AI, experienced a sudden drop on November 13th after allegations surfaced regarding its creator’s past involvement in possible scams. This has caused worry among supporters of the $GROK token, who came together to address the concerns
According to blockchain sleuth ZachXBT, the account used to promote $GROK was previously involved with other crypto tokens that may have been scam efforts. The independent researcher pointed to the account’s identification as evidence for the claim.
This revelation led to a significant decrease in $GROK’s market value, which had previously risen to over $120 million.
In response, the project supporters created an X Space to counter doubts and uncertainties raised by ZachXBT’s claims. Additionally, the developer took action by burning nearly $1 million worth of tokens from the project’s wallet to reassure the public.
However, opinions with the $GROK community varied as some individuals in the X space expressed doubts about ZachXBT’s findings, while others shared their perspective on the $GROK project and its future.
According to CoinGecko, $GROK’s market value remains below $100 million, indicating a considerable decline from its previous high. CoinMarketcap also reported a steep 17% drop in its price within a single day.
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