Crypto speculators incurred a 20% loss on JBX after it was revealed that the $69 million funding from Paradigm was just an April Fool’s joke.

Juicebox, a multipurpose DAO-tooling platform, marked April Fool’s Day uniquely by boosting its native token JBX by 25%. However, the celebration was short-lived as the token plummeted by 18% following the revelation that the purported multi-million funding from Paradigm was merely an April Fools’ joke orchestrated by Juicebox’s content manager.

According to a screenshot shared in an X post by @spreekaway, Juicebox’s content and marketing manager Brileigh (also known as brileigh.eth) announced on their page on Apr. 1 a $69 million funding for Juicebox. Although the announcement didn’t explicitly name any investors, the attached image featured Paradigm, a web3 venture capital firm, implying its participation in the funding.

“Thank you to our backers and supporters – this is just the beginning.”

brileigh.eth

Coin Insider Daily was unable to verify the announcement as Brileigh promptly set their X account to private. Following the funding news, Juicebox’s native token JBX surged by 40% in value, propelled by speculators driving its price to $0.0043, a level not seen since February.

Yet, the price surge was short-lived, as in follow-up posts made an hour later, Brileigh confessed that the news was just a prank, cautioning speculators against purchasing JBX tokens “in anticipation of financial gains on April Fools’ Day.” The revelation triggered a sharp downturn in JBX price, leading to a loss exceeding 20% as it plummeted to $0.0034, as per data from CoinGecko.

As of the latest update, Juicebox hasn’t made any public statements regarding the matter, leaving speculators grappling with the aftermath of the prank.