A man is currently in custody after climbing on top of the iconic Hollywood sign as part of a promotional stunt.
The person was waving a flag to shill a cryptocurrency called Vigilante Token (VIGI).
The sign, which is located on the southern side of Mount Lee at an elevation of 181 meters, is one of the most iconic tourist attractions in California. However, it is not accessible to the public. It is protected by barriers, and there is a sophisticated security system that notifies the police about suspicious movements. People who dare to attempt to climb to the sign get arrested for trespassing.
The man, who was wearing dark clothes and a ski mask, was reported to the LAPD earlier today.
The token briefly climbed to a peak market cap of $5.5 million, experiencing a 63,140% increase in price because of the wild promotional stunt that managed to attract some coverage in the local LA media.
Alex DovbnyaThe token's price has now plunged by more than 40% from its current peak.
The Vigilante project teased the marketing gimmick on Saturday, claiming that the VIGI token would be launched in the most viral way possible.
The stunt was supposed to showcase the level of "commitment" to the case.
Now, the project says that its next marketing stunt will be 10 times bigger in its recent social media posts.
This shows how far some projects are willing to go to stand out as the market is being inundated with new tokens.
Vigilante is now teasing the possibility of locking the supply of the token with a new X poll. This appears to be the key demand fo the community.
Dan Burgin
Vladislav Sopov