Japanese porn star’s coin red flags, Alibaba-linked L2 runs at 100K TPS: Asia Express

Investors ignore warnings as porn star’s Mikami memecoin raises millions, Alibaba subsidiary’s Ethereum L2 promises 100,000 TPS. Asia Express.

Japanese porn star and pop singer Yua Mikami has launched a new memecoin project on Solana, raising more than $2.9 million (over 19,000 SOL) in its presale at the time of writing, despite mounting concerns over its management.

The presale was announced on Mikamis X account, which boasts 8.2 million followers. She did not promote the project on her other major social platforms, TikTok and Instagram, which are followed by 4.5 million and 3.7 million accounts, respectively.

Blockchain analyst EmberCN raised several red flags. The presale doesnt have a fixed exchange rate or fundraising cap, meaning investors receive a share of the 20% token allocation based on how much is raised. EmberCN also observed that some participants sent SOL directly from centralized exchanges, despite explicit warnings not to do so. Since the project also lacks a refund mechanism, those users may lose their funds.

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