A social media post alleges that the founder of $GSD, identified as a BagsApp hackathon winner, removed nearly $500,000 from liquidity and sold holdings before the token fell 90%.
A post on social media claims that @official_taches, described as a winner of the BagsApp hackathon and founder of $GSD, allegedly carried out a rug pull (abandoning a token after extracting funds). According to the post, nearly $500,000 was removed from the token’s liquidity (tokens and paired assets locked for trading), the founder then sold personal holdings, and the token’s price later dropped about 90%. The same post says the X account tied to the founder was deleted shortly afterward. The allegation, if accurate, reflects a common crypto market failure pattern in which liquidity removal can sharply reduce tradability and trigger a steep price collapse.