Reddit Mods Dumped Tokens Just Hours Before Blockchain Program Termination

Reddit, a popular social networking platform, announced on October 17 that it would be discontinuing its blockchain-based community points program due to scalability challenges. This decision sparked considerable controversy within the crypto community, with many users labeling it a rug-pull, as the value of the native tokens associated with various subreddits plummeted following the announcement.

Each subreddit had its specific native token. For instance, the Moons (MOON) token served as the digital currency for r/CryptoCurrency, while Bricks (BRICK) represented r/FortNiteBR. Users were able to utilize these tokens for purchasing badges and exclusive avatar items.