Dave Portnoy buys LIBRA, but the token is wrong!

Dave Portnoy mistakes token in purchase process!

In these weeks of chaos, an example of the most classic of mistakes could not be missed: getting tokens wrong.

The protagonist of the story is Dave Portnoy, founder of Barstool Sports with some 3.6 million followers on X. Portnoy is an avowed fan of memecoins, so much so that he even mentions them in his bio on the popular social.

After targeting Libra, a token we are talking about quite a bit these days given the affair involving Argentine President Milei, Portnoy purchased a countervalue of $170,000. Too bad he had not done the proper research, because the Libra in question was another token, with a different contract (on Solana) and with no connection to the desired project. In short, a good one.

The fake Libra, as renamed by Portnoy himself, gained 3,000% in value. Too bad it then lost it, leaving “our hero” with losses in his hands and an illiquid asset that is difficult to resell.

It is Portnoy himself who tells the story via a short video posted on X, introduced by this text, “Anybody wanna buy some fake Libra? Warning. This is a meme coin. I bought it by accident. It will be volatile. It will eventually go to zero. It may rip. It may tank. Don’t put on more than you can lose!!! It’s a collectible.”
Maneuver to try to attract liquidity and limit the damage? Who can say. Clearly, we stay well clear of this token.

Besides, Dave Portnoy was linked to the launch of the real Libra: he was supposed to join the project as an advisor and had bought the token at launch. Then, he returned to sender 6 million LIBRA tokens he had obtained as a reward for serving as an advisor because, according to the account, project exponents had asked him to promote it without specifying that he had received shares in return.

Otherwise, one would be forgiven for thinking “Portnoy one of us”, since there are many beginners in the crypto world who make this mistake, falling for the many imitations.

What has just been recounted serves us well so that we do not forget to always check some “trivialities,” which in fact are not trivialities at all:

• Make sure that the contract number is that of the token/coin we are interested in.
• Double-check when making transactions to an address.