Fair3 pledges airdrop compensation after a charity-linked meme coin on Bags platform crashes from $7 million market cap to zero in alleged rug pull.
A MrBeast-themed meme coin launched on the Bags platform on August 15 surged to a $7 million market cap within two hours before collapsing to zero in an alleged rug pull. The token had been promoted as donating royalties to a clean water charity. Fair3 announced it will compensate holders through an airdrop to wallets owning both Fair3 tokens and the meme coin before August 15, 2025, 6:45 AM (UTC+8), with further details to be shared via official channels. Fair3, led by Wang Xin and backed by Ann of Unicorn Verse, focuses on fairness in Web3.