American rapper Ty Dolla $ign recently made headlines after accidentally burning $500,000 worth of SUNDOG tokens in a simple but costly mistake. Thankfully, the situation took a positive turn when Tron founder Justin Sun stepped in to help recover the lost funds.
Ty Dolla $ign’s Costly Crypto Mistake
On October 8, Ty Dolla $ign shared on his X (formerly Twitter) account that he had mistakenly sent 1.6 million SUNDOG tokens to the wrong Tron (TRX) address. The tokens did not show up in his wallet because, instead of sending them to his own TRX wallet, he accidentally transferred them to the contract address.
Earlier that day, the rapper had spent $500,000 to purchase the SUNDOG meme token, only to lose the tokens hours later due to this mistake. Desperate for help, Ty took to X and asked, “So it’s gone?? What am I supposed to do now?”
Justin Sun Steps In to Recover the Lost Tokens
Many users on social media tried to explain the error to the rapper, with some even suggesting he buy other meme coins like Shiba Inu to make up for the loss. However, no solution seemed possible until crypto entrepreneur Justin Sun, a SUNDOG ambassador, came to the rescue. Just minutes after the incident, Sun sent the rapper’s lost funds back, averting what could have been a massive financial setback.
Ty Dolla $ign Questions the Meme Coin Hype
In the days leading up to the incident, Ty Dolla $ign had expressed doubts about the hype surrounding meme coins. “What’s up with all these meme coins tho? I keep hearing about them everywhere. Is it all hype or are people really making money off this?” he posted on X.
Despite his skepticism, Ty was convinced to jump into the meme coin world. He announced his intention to invest $500,000 in a meme coin, to which boxer Ryan Garcia responded, recommending SUNDOG. This led to the rapper’s ill-fated investment.
Not the First Crypto Blunder by Celebrities
Ty Dolla $ign isn’t the first public figure to experience a cryptocurrency mishap. In March 2024, the anonymous creator of the Slerf meme coin accidentally burned $10 million worth of SOL tokens, while NFT collector Brandon Riley destroyed a $129,000 CryptoPunk in March 2023 while setting up a proxy wallet.
