- A developer accidentally burned $10 million in a Solana meme coin pre-sale last year.
- After 19 months, the developer refunded all pre-sale participants with Solana tokens.
- The refunds totaled 53,360 SOL (approximately $10.3 million) returned to over 25,000 wallets.
- The refund was possible after the meme coin migrated to a new token contract increasing its supply.
- The meme coin’s market cap peaked at $740 million but now stands near $30 million under the new contract.
A developer behind the Solana meme coin Slerf mishandled $10 million sent to its pre-sale wallet last year by accidentally burning the entire amount. The mistake, announced with the message “Oh fuck”, led the developer to state, “There is nothing I can do to fix this. I’m so fucking sorry.”
Nineteen months later, the Slerf developer, known as Grumpy, has refunded every pre-sale participant. The team sent back a total of 53,359.62 SOL, equivalent to about $10.3 million, across 25,444 wallets. These refunds were funded through donations and revenue from trading fees and were slowly distributed since the original burn.
The refund milestone coincided with Slerf migrating to a new token contract that increased the total supply of the meme coin. This move enabled the team to complete the in-kind reimbursements to affected investors, some of whom did not initially realize they had received the refunds.
Despite the initial loss, the incident boosted Slerf’s popularity, driving its market capitalization up to $740 million at its peak, according to DEX Screener. However, under the new contract, the meme coin’s market cap stands at just under $30 million.
Grumpy said the process of refunding took more than a year to rebuild from scratch and credited the community’s support for helping recover from the difficult situation. He explained, “Every bit of donations, revenue, or support we received was directed straight toward making presalers whole again. It’s been 1.8 years of persistence, transparency, and commitment.”
Slerf was initially funded through a pre-sale that collected $10 million in Solana tokens. The developer mistakenly sent these funds to an unrecoverable wallet address, describing it as “the biggest mistake of my life.” Despite anger from investors, Grumpy took full responsibility publicly, which helped ease tensions over time.
The meme coin has since become known in the crypto community for this incident, turning the original error message into a widely used meme. The developer reaffirmed commitment to the community by stating on X, “I told you we would complete the 10m in Slerf refunds. Now I am telling you Slerf will be an S-tier memecoin.”
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