Just a few hours ago, KAVA Network Team Thought it would be cool to announce a fake partnership between tesla and kava network.
Today, Kava Network Announced That “So excited to announce that @elonmusk just confirmed Kava as the firsg L1 Network To power Yield Farming while you Drive”
As a Result of this Traders and investors entered Long Futures and Margin Position. After 30 minutes approax. Kava Network Team Announced it was April Fools
As a result of this, Kava Network Price went Up around 10% followed with a dump after announcing it was April Fool’s Joke.
There were Signs of Insider Trading Before this announcement which is supposed to be Kava Network Twam Itself. Have a look at the chart below
While this joke went heavy on Traders Portfolio, and tons of Traders got Liquidated due to this.
Twitter user BitBitCrypto Tweeted :
A twitter user mentioned that he had lost his life savings of 8400$ due to this and asking for penalty by binance to kava network. Check tweet below
While this is highly irresponsible of Kava Network to Do this kind of Things, Users expect Binance to fine kava network and possibly refund the users affected from this.