friend.tech

Friend.tech launched as a promising SocialFi experiment allowing users to trade keys to private chat rooms tied to X accounts, generating $1M in fees daily at peak. The project rapidly collapsed due to poor execution, privacy leaks exposing over 100k wallet addresses, bot exploitation, and leadership abandonment—the team extracted $44M in fees while the platform froze. Critics describe it as a fee extraction and ponzi-like scheme that prioritized influencer dumping and short-term speculation over sustainable community value, leaving users disappointed after initial hype faded to a ghost town.