Upheaval denies rug pull allegations

Blockchain project Upheaval has responded to recent rug pull allegations. The project attributed the sharp price drop of its native PUP token to its refusal to pay marketing fees to key opinion leaders (KOLs) and its rejection of angel and seed round investments from certain groups on the Hyperliquid platform. Upheaval stated that its team currently holds no tokens and plans to burn any excess supply as previously announced. The project added that PUP was launched as a community token and that it has been building real-world utility with its partners. While acknowledging that FUD (fear, uncertainty, and doubt) may persist, Upheaval asserted that it would not engage in any unethical behavior.