The Friend.tech team said on Sept. 10 that they have no plans to discontinue their website application.
Web3 social media platform Friend.tech faces rug pull allegations online after the team permanently relinquished control over the project’s smart contracts.
On Sept. 8, the team behind Friend.tech announced that it had set the admin and ownership parameters to Ethereum’s null address. The team said that this prevents any future changes to their fees or functions.
Following the move, the Friend.tech (FRIEND) token dipped by 26% just 24 hours after the announcement.
