According to @EricCryptoman, a promoter alleged to run multiple fake giveaway accounts launched a new on-chain project that instantly surged to about $5 million, signaling extreme speculative activity in memecoin markets; no project name was disclosed in the post. Source: @EricCryptoman on X, Oct 8, 2025. Such social media giveaway schemes align with documented patterns behind rapid pumps and subsequent rug pulls in newly launched tokens, underscoring elevated risk around momentum entries and thin liquidity. Source: Chainalysis 2024 Crypto Crime Report; Binance Academy education on rug pulls and token safety. Traders should verify token ownership and mint authority, review liquidity lock status and top-holder concentration, and avoid chasing posts from giveaway-style accounts before committing capital to new launches. Source: Binance Academy token safety guidelines; Chainalysis 2024 Crypto Crime Report. This episode highlights how social-driven memecoin launches can momentarily reach multi-million-dollar valuations without fundamentals, raising headline risk and potential drawdown risk for late entrants. Source: @EricCryptoman on X; Chainalysis 2024 Crypto Crime Report.