Digital currency developer arrested for Memecoin promotion using Hollywood sign. Memecoin's market value dropped after a promotional stunt.
The Los Angeles police arrested an unidentified man for promoting the Memecoin Vigilante on the Solana (SOL) network using the famous Hollywood sign. This individual, a member of the digital currency developer team Vigilante, stood for an hour with a white flag on the letter D of this sign to attract investors’ attention. The memecoin, launched on February 15 through the Pump.fun platform, reached a market value of nearly $4 million after this promotional move, but later faced a 70% drop, reducing its value to $1.3 million. This unusual advertising stunt occurred amidst intense competition among memecoin developers on the Solana network to attract investors’ attention.
