BabyMusk is a tribute coin to Elon Musk. Its community has one main goal: to catch Elon’s attention such that he will join the project. The project raised about $2 million during its initial coin offering (ICO) in early February 2022. The initiative’s developers went to considerable measures to make the token look legitimate, saying that their goal was to “revolutionize the meme industry.” Until a couple of days back, Baby Musk Coin seemed to be the new big meme-coin to invest in. Like most other cryptos from this space, even BABYMUSK appeared to offer fancy gains. It also mingled well next to other prominent names like BabyDoge and Dogelon Mars. However, a couple of users were quick to bring to light the red flags. Pseudonymous user “NOSHIT” underlined the large-sized BABYMUSK holding by developers and the fact that users couldn’t sell. As such, NOSHIT labeled it a honeypot scheme. Certik indicated that 1571 BNB or 660k was moved to Tornado Cash.
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