TMS Network (TMSN) claims to be a decentralized platform for crypto and forex trading, aiming for a “fair and transparent” ecosystem that rewards user engagement. However, investors in the presale have been disappointed as TMSN reportedly failed to fulfill promises and executed a rug pull.
In a rug pull, developers drain token liquidity, causing a drastic price drop, leaving investors with worthless coins. TMSN faced this fate, as per user reports from the presale.
TMSN’s launch garnered negative attention due to a rug pull, shattering initial hopes. This post delves into the presale letdown, liquidity drain, and the dynamic nature of cryptocurrency. Scamadviser rates TMSN as high-risk, with a trust score of 0/100.
The Promising Start:
TMS Network, a project that held significant potential, launched its token presale with promises of a bright future. Investors who participated in the presale had high hopes, especially considering the initial traction and interest the project had generated. The presale offered an opportunity to acquire tmsn tokens at a favorable price, adding to the excitement surrounding the project’s potential.
The Shocking Turn:
However, the excitement soon turned to disappointment as investors realized that TMS Network had failed to deliver on its promises. Many users who had participated in the presale reported that they did not receive the airdrops they were expecting. Moreover, without prior communication, the project stealthily launched its token on Uniswap, causing further confusion and frustration among the community.
Rug Pull and Liquidity Drain:
What followed the surprise launch was a devastating rug pull that took the entire community by surprise. TMS Network’s token price, which initially stood at a promising high of $0.165, plummeted to an astonishingly low $0.000017, leaving investors with staggering losses. The liquidity drain was swift and severe, as the project’s team reportedly drained all the liquidity, leaving traders and holders with virtually worthless tokens.
Lessons to Learn:
The case of TMS Network serves as a stark reminder of the risks inherent in the cryptocurrency space. Investors must exercise caution and conduct thorough research before engaging with any project, especially during presales. The lack of transparency, failure to fulfill promises, and sudden market manipulations highlight the need for vigilance and due diligence in the crypto community.
TMS Network’s journey from presale anticipation to liquidity drain and rug pull is a sobering tale of caution for both seasoned and novice investors in the cryptocurrency market. It underscores the importance of informed decision-making, research, and skepticism while evaluating projects. As the crypto space continues to evolve, it’s crucial for investors to learn from such incidents and actively contribute to building a more transparent and accountable ecosystem.
This blog post is intended for informational purposes only and should not be considered financial advice. Always conduct your research before making investment decisions in the cryptocurrency market. To report TMS Network read our previous post here.