A fake cryptocurrency called Dill Bits appeared on the Solana blockchain after Fortnite introduced it as an in-game joke. This was part of Fortnite’s Chapter 6: Season 2 update, where Dill Bits were a fictional currency used in black markets.
Epic Games described them as a “confusing crypto coin you never knew you needed”, mocking real-world cryptocurrencies. But soon, scammers saw an opportunity.
How the Fake Dill Bits Token Was Created
A group of unknown individuals created a real Dill Bits token using a platform called Pump.fun. This website allows users to launch tokens quickly with little effort. The scammers had no connection to Epic Games or Fortnite, but they used the game’s name and hype to attract investors.
Within 24 hours, Dill Bits’ market capitalization soared to $4.78 million as investors rushed in, thinking it was linked to Fortnite. But the excitement didn’t last long.
The Pump and Dump Scheme
The token’s creators began selling off their holdings, causing the price to crash. This is a common “pump and dump” strategy, where early holders artificially inflate a token’s value before dumping it on unsuspecting buyers.
The crash was massive. Dill Bits lost over 90% of its value, bringing the market cap down to $411,000. Many investors lost their money, realizing too late that the token had no real backing.
Lessons from the Scam
This incident highlights the dangers of meme coins and unregulated cryptocurrencies. Many investors fell for the scam because they assumed Dill Bits was related to Fortnite. However, Epic Games never created or endorsed the token.
Crypto experts warn that investors should always verify a coin’s legitimacy before investing. If a project sounds too good to be true, it probably is.