Bonk Guy shilled the Arc chain Launchpad platform and faced criticism, with the latter being questioned over rug pull permissions.

September 14: Well-known crypto KOL Bonk Guy posted this morning, stating "I have bought LONG, the native token of Arc's main Launchpad Long, as well as the top three meme coins on the platform, believing there are short-term trading opportunities on the Arc chain."

Driven by this news, the market cap of the LONG token surged 27 times in a short period. On-chain analysis indicates that yesterday, multiple newly created addresses built positions in LONG tokens at low prices, and the pump caused their positions to gain hundreds of thousands of dollars in unrealized profits.

Additionally, crypto KOL 0xShawn, who previously successfully minted BNC4 at after-market prices via Four.meme and arbitraged $230,000, stated, the long.supply platform is one that has rug permissions at any time and prints fake USDT. The platform, by building its own cross-chain bridge, established a cross-chain bridge for stock tokens on the robinhood-arc chain; the stock tokens on the arc chain are not officially issued but issued by the platform itself. Furthermore, the underlying protocol of the cross-chain bridge is not a reliable protocol like Wormhole or L0.

This means: "The project team can close the cross-chain bridge at any time and withdraw the locked funds from the Robinhood chain. You are essentially using your real USDT to exchange for fake USDT on the arc chain, similar to the eUSD platform before the chain launch, which was urgently investigated by officials and ultimately collapsed."

BlockBeats reminds users that celebrity endorsements may involve conflicts of interest, and the security of related projects should be carefully verified, with cautious investment.