A recent thread on X by @StarPlatinumSOL has blown the lid off a notorious figure in the crypto space: Rashad Aldridge, better known as Mr. Mint. This deep dive exposes a pattern of scams stretching back over a decade, culminating in massive losses for investors in NFT collections and meme tokens. If you're dabbling in blockchain projects, especially on chains like Solana or Polygon, this is a must-read warning about the risks lurking in the meme coin world.

The Man Behind the Scams: Rashad Aldridge's Early Days

It all started back in 2012, long before Aldridge dipped his toes into crypto. Under various aliases, including "Toni Legacy," he ran a string of shady businesses. From phony iPhone wholesale deals to sports gear and clothing ventures, Aldridge built a reputation in the LA area for taking money and vanishing. One victim sent cash for iPhones that never materialized, and when refunds were demanded, Aldridge ghosted them.

By 2014, he was knee-deep in more elaborate schemes. He partnered up for a shop called Shakes R US, only to disappear after the first month, leaving his associate holding the bag. This pattern repeated across multiple outfits:

• Evolution Marketing: A fake agency that promised big but delivered nothing.
• Legacy: A clothing brand that scammed suppliers and customers.
• YouOweYou: A so-called development company with zero actual services.
• HYPE: A shoe resale store that reportedly fleeced people out of $100,000.

He even fabricated stories about crypto deals involving his "millionaire" father to lure in more victims. Family members got tangled in some of these too, painting a picture of a serial scammer honing his craft outside the blockchain realm.

Entering the Crypto Arena: NFT Rugs and Meme Token Mayhem

Fast-forward to 2021, and Aldridge saw opportunity in the booming NFT market. Teaming up with his brother-in-law Pixxelzz, he launched two rug pulls on Ethereum—quick schemes where creators hype a project, collect funds, and then dump, leaving holders with worthless tokens.

Not deterred, he shifted to Polygon for bigger plays. In March 2023, his first major collection, Owlpha, minted out 1,500 NFTs at 15 MATIC each. The floor price skyrocketed to over 2,000 MATIC initially, but it was all smoke and mirrors.

What followed was a frenzy of launches in just one year under MNFST Labs:

• Owlpha
• Ordinal Rangers
• Galactic Eagles
• Bombaclot (on Solana)
• Acquired Region79
• RingRunnerz
• HyperKongz
• Acquired Gommies (on SUI)
• Baby Bombaz
• Cultured Cats (on Solana)

RingRunnerz alone raked in over $450,000 by selling 10,000 NFTs at 45 MATIC each, promising integration into a crypto game. But updates never came, and the "game preview" was laughably underwhelming.

Broken Promises and Recent Rugs

Aldridge dangled a token called HOOT in front of Polygon holders for ages, only to launch it a year late on Solana—and rug it hours later. Throughout 2024, he kept the grift going, with his latest flop being Annon on Aptos.

But the scams weren't confined to crypto. In 2024, his San Antonio sports card shop got seized after a $200,000 lawsuit over rare cards. More victims surfaced:

• A 2018 court order for $145,000 repayment.
• $150,000 in 2023.
• Another $100,000 lawsuit in 2024.
• Owing a couple $250,000 for a Pokémon collection.

Despite all this, Aldridge denies everything and remains at large, with a dwindling community still hoping for project revivals.

Lessons for Meme Token Enthusiasts

In the wild west of meme tokens, stories like this are all too common. Rug pulls—where devs abandon projects after collecting funds—can wipe out investments in seconds. Always do your due diligence: Check team backgrounds, audit smart contracts, and watch for red flags like overpromising or anonymous founders.

This thread estimates over $1 million in total losses from Aldridge's schemes, and that's just what's public. If a project ties back to Mr. Mint or MNFST Labs, steer clear. The crypto space thrives on innovation, but scammers like this give meme coins a bad rap. Stay informed, and remember: If it sounds too good to be true, it probably is.

For the full thread, check it out here. And if you've got tips on similar exposures, drop them in the comments below—we're all about building a safer blockchain community at Meme Insider.