Analysts raise alarm on Hasbulla’s BULLA memecoin after BARSIK rug pull

• Hasbulla’s new memecoin, BULLA token, raised $20M in 24 hours amid scam accusations.
• Analysts warn of a repeat of the BARSIK rug pull.
• Critics cite a lack of transparency and insider wallet activity.

Russian internet sensation Hasbulla Magomedov is once again under fire from the crypto community, as his newly launched memecoin, BULLA, faces mounting accusations of fraud and manipulation.

Despite raising millions of dollars within hours, the project is being closely scrutinised due to Hasbulla’s checkered past in Web3, particularly his involvement in the failed BARSIK token earlier this year.

BARSIK’s rug pull cast a shadow on BULLA’s legibility

When BULLA’s presale started, it raised $5 million within just two hours and reportedly exceeded $20 million over the next day.

Hasbulla raised $20M for a memecoin presale in the past 24 hours.

One single address sent in almost $1 Million USD1.

Good luck to all participants! pic.twitter.com/ifvYw0NrDr

— Arkham (@arkham) May 27, 2025

This rapid influx of capital was fueled largely by Hasbulla’s immense online popularity and the viral nature of memecoins, which often lure casual investors with the promise of quick returns.

However, experts such as ZachXBT, a respected crypto investigator, were quick to raise red flags, urging followers to stay away from the project due to Hasbulla’s history of rug pulls.