Bonk Guy’s shilling of the Arc Chain Launchpad platform has sparked criticism, with the platform facing accusations of holding rug pull privileges.

Well-known crypto KOL Bonk Guy posted early this morning that he has purchased LONG, the native token of Arc’s main Launchpad, as well as the platform’s top three meme coins, citing short-term trading opportunities on the Arc blockchain. Driven by the news, LONG’s market cap surged 27-fold in a short period. On-chain analytics show that multiple new addresses accumulated LONG at low levels yesterday, and the pump pushed their positions to unrealized gains of hundreds of thousands of US dollars. Additionally, crypto KOL 0xShawn, who previously arbitraged $230,000 by minting BNC4 at off-exchange prices via Four.meme, stated that the long.supply platform holds rug pull privileges and can mint fake USDT at any time. The platform built a cross-chain bridge for Robinhood-chain stock tokens via its own custom cross-chain infrastructure; the stock tokens on the Arc chain are not issued by the official, but by the platform itself. Moreover, the cross-chain bridge’s underlying protocol is not a reliable one like Wormhole or LayerZero (L0). This means: "The project team can shut down the cross-chain bridge at any time and siphon off the locked funds from the Robinhood chain. You are essentially exchanging your real USDT for fake USDT on the Arc chain, similar to the eUSD platform before its launch, which was eventually shut down after an emergency investigation by authorities." BlockBeats reminds users that celebrity shilling may involve conflicts of interest, and users should carefully vet the security of related projects and invest cautiously.