Random9 Token Soars 750,000% After Elon Musk's Post

At the same time as Musk's post about his character's name in a popular video game, a token with the same name was launched on the Ethereum network, which saw a surge in price before collapsing almost immediately.

The Random9 cryptocurrency rose more than 750,000% after Elon Musk's post. Over the next 30 minutes, the token almost lost all of its value.

On the evening of 23 March, Musk posted on the social network X that his character ranked third in the game Path of Exile (POE, "The Path of Exile", a multiplayer action role-playing game).

Answering a follower's question about his character's name, he revealed that he had several: the previous one, called BeLessDumb, died, and the current one is called Random9.

Contemporaneously, the token associated with Elon's POE account (Random9) was launched on the Ethereum network, and its price immediately spiked on decentralised trading platforms. Within three hours, the price of the token went from $0.000002117 to $0.01594, registering an increase of 752.852%. After this surge, Random9 collapsed even faster: in half an hour, the price plummeted by almost 100%.

According to the Dexscreener browser, transactions of the token stopped immediately after the collapse. The token passed most fraud checks, but analysts at GoPlus reported it as a HoneyPot scam.

HoneyPot: A Trap For Investors In Crypto

The term HoneyPot literally means 'honey pot' in English, but is often translated as 'bait'. This fraudulent scheme involves a fraudster creating a crypto project with attractive conditions to lure victims. The sole purpose of the project is to steal money, personal data or confidential information from investors.

From the subsequent analysis, the community discovered that dozens of wallets created six days before the token launch, funded by the platforms Bybit and MEXC and with identical transaction histories, started buying Random9 for similar amounts. It is possible to track the history of these purchases: most transactions come from these wallets.

Analyzing the transactions related to the token, it emerged that the mentioned wallets carried out highly profitable operations. For example, the owner of an address that purchased the tokens at launch for $41 sold most of them just minutes later for $6,700.

In January of this year, tokens inspired by Musk’s previous character in POE, FatalismFTW, also saw a surge followed by a subsequent crash in value. Several tokens with this name were created on both the Ethereum and Solana blockchains.

Before this, Musk's character in Path of Exile was Percy Verence, and before that, Kekius Maximus. At the end of 2024, Musk even changed his X account name to Kekius Maximus, an event that caused the KEKIUS token to skyrocket by over 3,000% in just a few days, reaching a market capitalization of over $500 million. After changing his character to Percy Verence, the PERCY token surged by 50% following Musk’s next mention.