Police Arrest Man For Promoting Cryptocurrency On Hollywood Sign

Los Angeles police arrested a man who raised a flag promoting the Vigilante Token above the Hollywood Sign on Saturday.

The flag contained details about the cryptocurrency, including its website and logo, while the promoter was wearing dark clothing and a mask to conceal his identity.

Police were called after park rangers failed to persuade him to come down, and he was arrested without injury.

The marketing stunt helped send the cryptocurrency soaring by a staggering 63,140%, taking its market cap to $5.5 million before collapsing by 99.5% in the space of 24 hours.

The Vigilante team responded to the event by announcing a new promotion that is 10 times larger, and is considering locking supply to stimulate demand.

The incident reflects how crypto projects are resorting to unconventional methods to attract attention, some of which can be dangerous, such as those that prompted platforms like Pump.fun to disable controversial promotional features.

For our part, we remind you to be careful with meme coins and coins that inflate quickly because their disappearance will be as fast as their rise.