Former Serum Twitter Account Rebranded as Luka, Now Promoting Memecoins?
The former Twitter account of the once-prominent Serum project on Solana has wiped all previous tweets, rebranded as Luka, and changed its profile picture to an NFT Milady.
Serum Twitter Rebranded as Luka, Shilling Memecoins?
As reported by Coin68, in late November 2022, the decentralized exchange (DEX) Serum (SRM) on Solana announced that it could no longer sustain operations and was shutting down due to the impact of the FTX collapse.
So the old Project Serum Twitter account with 200k+ followers recently deleted all tweets, changed pfp to a Milady, and began shilling shitcoins? pic.twitter.com/788T0ilB6t
— ZachXBT (@zachxbt) April 20, 2023
The latest move seems to reaffirm this decision. The official Twitter account, which had 207,600 followers, has been rebranded to "Luka," deleted all past tweets, and updated its profile picture to a Milady NFT.
So the old Project Serum Twitter account with 200k+ followers recently deleted all tweets, changed pfp to a Milady, and began shilling shitcoins? pic.twitter.com/788T0ilB6t— ZachXBT (@zachxbt) April 20, 2023
Moreover, since rebranding to Luka on April 20, the account has been actively posting about trending memecoins, with PEPE being a notable example.
It remains unclear whether the Serum Twitter account was hacked or if this is a deliberate account handover. Crypto users have noticed that Serum has moved to a new Twitter account with a significantly lower follower count.
They have a new account and an interesting price prediction😂 pic.twitter.com/m1wY3cGBtQ
— DB (@dbeckara) April 20, 2023
They have a new account and an interesting price prediction? pic.twitter.com/m1wY3cGBtQ— DB (@dbeckara) April 20, 2023
Serum was a decentralized trading platform built on Solana and had been heavily supported by FTX since its inception. On November 14, three days after FTX filed for bankruptcy, the Solana Foundation revealed it was stuck with 134.54 million SRM on FTX, raising concerns about Serum's future.
The situation deteriorated further, and despite efforts to fork the project, SRM faced continued decline and barely survived for a month. At that time, Binance also announced the delisting of underperforming SRM trading pairs.
SRM is currently priced at $0.19, having dropped from $0.8 since the FTX crisis began.
1D Chart of SRM/BUSD on Binance at 10:45 AM, April 21, 2023
