Key Takeaways
- Hasbulla launched a new token, BULLA, on BNB Chain.
- The presale raised $5 million in just two hours.
- Crypto sleuths, including ZachXBT, warn it’s déjà vu for investors.
Internet sensation Hasbulla Magomedov has raised $5 million in hours through his new memecoin, BULLA, despite a well-documented history of rugpulls and liquidity snipes.
The token, launched on BNB Chain, has attracted a flood of retail investors who appear unfazed by Hasbulla’s controversial crypto past or the possibility of another rug-pull.
Hasbulla Launches BULLA
This is not the first time the 21-year-old influencer has dipped into Web3.
Hasbulla first entered the space during the 2021 NFT boom, releasing several batches of collectibles tied to real-world perks and vague promises of a metaverse.
Few of those plans materialized.
Since then, Hasbulla has lent his name to a string of dubious crypto projects, including a memecoin named after his cat, Barsik. That token saw 62.5% of its supply sniped early on and quickly turned into a pump-and-dump.
Despite the paper trail, Hasbulla’s massive online following has proven remarkably forgiving-or forgetful.
Within two hours of BULLA’s presale going live, $5 million in crypto had already been sent to the address he promoted.
That, despite visible warnings from prominent on-chain watchdogs like ZachXBT.
Warnings From the Crypto Community
“No one should send their funds to this,” ZachXBT wrote on X. “You already rugged with your other bundled token, BARSIK, only a few months ago.”
BULLA’s launch comes at a time when celebrity-endorsed memecoins are under renewed scrutiny.
Though the memecoin market has cooled since its early 2024 peak, influencers continue to test the waters with hastily launched tokens and speculative hype.
Hasbulla’s BULLA joins a growing pile of celebrity crypto experiments that critics say exploit fan loyalty while offering little transparency or accountability.
Even now, some social media users claim comments warning others about past rugpulls are being quietly deleted from Hasbulla’s posts.
And while there’s no hard proof BULLA will follow the same trajectory as its predecessors, on-chain history doesn’t inspire much confidence.
For now, BULLA sits at $7 million raised and counting. Whether it sticks around longer than Hasbulla’s last token remains to be seen.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
Beyond his professional pursuits, Prashant is an avid music enthusiast, often exploring diverse genres to unwind. A sports lover, he has a particular passion for cricket and frequently engages in discussions about the game. His multifaceted interests and sharp journalistic instincts make him a valuable contributor to CCN, where he continues shaping the crypto landscape's narrative.
