A new cryptocurrency token named $FRAUD was launched by influencer @chooserich during a live show, initially valued at $10 million but quickly plummeting to $600,000. The token has drawn significant attention on social media, with various users expressing skepticism about its viability and predicting further declines. One user noted that everything associated with the creator, referred to as Nick, is heading towards zero. Following the launch, @chooserich released a video criticizing those who lost money, calling them 'dumb' and condemning individuals who sold for profit. He hinted at more developments related to the token in an upcoming show.