Nvidia engineer's TMC token scam wipes out investors
Nvidia engineer's TMC token scam wipes out investors
On January 24, 2025, Nvidia core engineer Travis Cline launched TMC Corp (TMC), a cryptocurrency token presented as a crowdfunding initiative for open-source AI tools.
Cline’s reputation as a senior Nvidia AI team member and a well-known open-source developer helped attract significant investment. Within days, TMC’s market value soared past $30 million as thousands of investors rushed to participate, reports NPA News.
Despite early enthusiasm, concerns arose when Cline deleted promotional tweets, triggering an initial price drop. He later reassured investors, branding TMC as a groundbreaking AI project. Confidence briefly returned, driving the token to new highs. However, blockchain analysts soon identified large early purchases being dumped for profit, causing TMC’s price to plummet. Cline reportedly cashed out $8 million before banning users questioning him in Discord and deleting investor complaints. By the end of the ordeal, TMC had lost 94% of its value.
Investors left reeling as trust erodes
Many investors suffered heavy losses, including a single mother who saw her $56,000 savings shrink to $4,000. A young professional who invested $11,000 in TMC is now struggling to cover rent. Meanwhile, Cline’s recent tweets suggest indifference toward those affected. The incident highlights ongoing risks in the crypto sector, where trust in high-profile figures can lead to devastating financial consequences.
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