Fifteen coins are called Season 3, and two are already zero

Jeffrey Huang, who posts as Machi Big Brother, told his followers on Monday that everyone is waiting for the Hyperliquid Season 3 airdrop and suggested a Solana memecoin called Season 3 instead, claiming it pays HYPE to holders. BeInCrypto reported the post. He then stepped back from the project.

We searched Solana pairs for that name. There are fifteen separate tokens called Season 3 trading under the ticker S3, and every one of their pairs was created in the last 23 hours.

Anyone who read the post and went looking had to pick one name out of fifteen identical ones, with no way to tell which the post meant.

Fifteen tokens, one name

Here is what the fifteen look like when you sort them by how much actually traded.

• One has real trading: $6.03M of market value, $551,000 of volume, up 554% in a day. Its pair is 13 hours old.
• Two are already at zero, down 100%. Their pairs are under five hours old, and 1,354 people bought into them.
• Three show 300 or more purchases and no sales at all. Buying works, selling apparently does not.
• One claims a market value of $4.65 billion on three trades in total.

The two at zero are the part worth sitting with. Between them they took 1,354 purchases in under five hours and now return nothing. Nobody had time to read a warning, because the tokens did not exist when the post went up.

The three with hundreds of buys and no sells are the older trick. A contract can allow purchases and block disposals, and the chart looks like a rocket until someone tries to leave. We counted 904 purchases across those three and a single sale.

Huang did not create these copies and there is nothing to suggest he did. That is the point. A post naming a token by a generic phrase, from an account with that reach, is enough on its own to fill a chain with impostors within hours.

The airdrop underneath is real

The airdrop being waited on is real. Hyperliquid hands out HYPE for trading, staking and using its applications, and Season 3 is the next round. Huang's pitch was that buying a memecoin skips the waiting.

His record makes that pitch worth weighing. In March he absorbed roughly $75 million in liquidations on Hyperliquid, and days before this post he withdrew a $1 million offer he had made around Friend.tech.

We looked at the venue economics of perpetual exchanges last week, including where Hyperliquid sits among them. The airdrop is a real mechanism attached to a real business.

Check the address, not the name

Check the contract address rather than the name. Names are free and unlimited on Solana, and this week fifteen of them were identical. A token that has never recorded a sale is not cheap, it is closed.

We measured the same pattern in Monday's altcoin count, where the biggest gainer across 152 coins had no product page at all. The signal is the same: check what you are buying before the chart persuades you.

This piece is informational, not a recommendation to buy, sell, or hold any asset.