The recent listing of the Ethereum-based memecoin Neiro on centralized exchanges (CEX) has ignited a wave of controversy within the crypto community.
According to the sources, Neiro’s listing by one major CEX platform has raised concerns, particularly due to the involvement of multiple projects under the same name. The listing has attracted attention from blockchain experts, with some calling out the issue in the crypto space.
Concerns About Neiro’s Market Manipulation
Blockchain investigator ZachXBT, known for his insights on fraudulent crypto cases, took to the X platform to share his concerns about the Neiro situation. He pointed out that the centralized exchange “cartel” had listed two projects with the same name, causing chaos and confusion among the traders and investors.
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The original Neiro token, which uses lowercase letters, has now been grouped under the same banner as another project, despite being two different entities.
ZachXBT remarked “ We are essentially back to square one”, implying that this confusion is reminiscent of past token misidentification.
So basically we came full circle and OG NEIRO became cabal NEIRO after CEX cabal listed two NEIROs making both become cabal NEIRO even though Kabosu owner states all NEIRO coins were grifts to begin with.
— ZachXBT (@zachxbt) September 18, 2024
Furthermore, a statement from the owner of Kabosu, the original dog behind the popular Doge and Shiba Inu memecoin added to the controversy stating that all NEIRO tokens are scams. This statement fueled skepticism, with people arguing that Neiro’s listing on the CEX platform could mislead investors and traders despite the creators’ warnings.
This situation where multiple tokens are listed under one name, has raised questions about the ethics of CEX and the transparency during the token listings. As the debate continues, crypto investors are advised to remain cautious when dealing with newly listed tokens on CEX.
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