Red Flaggy GREED Meme Coin Shames Crypto Speculators With Tweets From Their Own Twitter Accounts

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In S**tcoin Spring, any useless cryptocurrency with a Twitter account can cause thousands of traders to play meme coin musical chairs. Throwing money against the wall and reason out the window, they let greed get the better of them. Sometimes literally.

Last week, a social experiment called GREED got the better of potential speculators on the Solana blockchain. Instead of wealth, they get bupkis with a side of public shame to boot.

It’s a story that showcases the dark psyche fostered by these unique tales of coin riches. For every lucky speculator up 5,000,000% on pepecoin (PEPE), there are thousands of players losing money to insiders and trading bots. Some fall in love with malicious chips designed to steal all the money from their wallet, not just the poker chips they’ve staked.

GREED could have been one of them. To get GREED, more than 43,000 Twitter accounts this week gave permission to a man in Croatia to tweet on their behalf. An additional 55,306 wallets signed an intentionally enticing transaction that, in theory, could have let him empty their wallets.

But the creator of the GREED experience has no intention of stealing his money (neither; his developers never built this code). Even so, Ivor Ivosevic, better known as Voshy in the Solana community, will post many of these Twitter accounts.

In an interview with CoinDesk, Voshy said he wanted to teach crypto traders a lesson, one that focuses on internet security with perhaps a dash of morality and sensitivity as well. Things called greed, after all.

Voshy did not set out to write a parable of the dark side of cryptos.

For five days he watched in crypto chat rooms people conjure up the full dollar sign of garbage tokens in front of the fruit name garbage sold it to their friends and posted it how much everything the world entered and the token dropped to zero.

A week ago, disenchanted with this parade, he wrote an ironic tweet.

He went to bed that morning (Voshy’s first tweet was a light-hearted s**tpost about sleep at 6 a.m.) planning to post a follow-up calling out the handful of people stupid enough to buy his nonsense.

I woke up with 2,000 more followers, he said of a Twitter account that previously only had 2,700. One person told him a nice joke, but the others seemed eager to s ‘invest. I’m like, fuck, this didn’t go the way I planned.

Disturbed but unfazed, Voshy leaned in. He told his growing flock to spread his gospel and tweet the message doing so because of $GREED to get the token. He went back to sleep; his tweet went viral.

Voshy woke up to hundreds of direct messages from Twitter friends asking to buy GREED before going public with his non-existent piece.

The so-called presale is a way for speculators to try and make money on the same coins. By buying a token before it becomes widely released, they hope to spike its initial pump and dump it for profit. They are ready to pay a lot of money for their greed; Voshy said he received offers for his nonexistent token that totaled seven figures.

No one asked me what the token was or what it was going to be. Everyone just threw down a number they were ready to send me right away, Voshy said. He wasn’t going to take their money, but he decided to make GREED a reality.

Over the next few days, Voshy dropped occasional hints on Twitter about a token like no other. GREED would not have insider pre-sales or allocations. It would be robot-proof. It would be free. Meme coin traders have started paying attention and adding GREED to hot lists of tokens to watch.

As the hype grew for GREED, Voshys Twitter also followed; it peaked at nearly 33,000. He made statements to them about how greed drives people to do stupid things.

I started retweeting and writing things like, The only people who get rich from smokers are the founders. Beware of your greed; Greed can consume you, he said. It did not work.

People were getting more and more optimistic the more I worried.

Behind the scenes, Voshy started building GREED. Importantly, it would have a freeze mechanism to prohibit holders from taking it out of their wallet, making speculation impossible. He worked with developers Marcos Collado Martn and Petar Podbreznicki, an employee of Voshys’ crypto consulting firm, BlstCtrl.

It may have worked too easily, so he asked them to make it redder to try to deter people. Indeed, some worried about the dodgy security concessions they had to make to get their greed, like handing over their Twitter.

Voshy said he was asked, why would I give you all these permissions? Would you give these permissions? His answer: No, never. but his warnings were not enough.

If you have FOMO in your head, then doing something that would put your Twitter account at risk is less of your concern since you want to be part of something that’s going to be big without even looking for it, says a GREED owner who goes by Abyss on Twitter.

The crescendo came with Greed’s airdrop on Friday. When the speculators insisted, two things happened: they were dumped from 8,007,320,330 GREED, and their Twitter account automatically tweeted an embarrassing warning for others.

Voshys’ Twitter API net captured wild accounts, including that of Slope Finance, Solana’s mobile wallet service whose social media went silent last August after leaking critical user data to hackers. Whoever runs this Twitter account apparently used it to try and claim their greed. The result: they broadcast the Voshys post (and then deleted it).

Voshy plans to continue tweeting warnings about greed from the accounts of people who gave him permission to do so. (It also disseminates information on how to revoke permissions and encourages people to do so).

I always feel like if I’m lucky enough to teach them something, maybe at least a few people benefit from it and I tend to think it’s worth it. And people were telling me that I’m going to get a lot of hate for that, and people will never forgive me. So far, so good. Everyone loves that.

Everyone who is a human, that is. While the Voshys social experience costs almost nothing to regular users, the bots that tried to outwit the system lost more and contributed to the 120 SOL that will be lost forever because of it.

So GREED actually has more utility as a token than most, Voshy said.

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