You're absolutely cooked... I said it here before: don't go throwing your money into crypto — go buy your mama a house instead. Still the realest advice out there. 🏡❤️

It seems like the alpha city coins might be part of a scam project, particularly if their team is asking for your 12-word pass, which should never be shared with anyone. Such actions are not typical of legitimate projects.

The drop in coin value could be due to the project being a scam or the market price dropping significantly. It's crucial to DYOR before interacting with cryptocurrency projects. Unfortunately, if the project was a scam, the value of the coins might not recover. Always verify projects' legitimacy and avoid sharing sensitive information like private keys or passphrases.

If the project was listed through verified channels like the Slush Wallet, it's possible the project had some credibility initially, but changes in value and such requests for security phrases indicate a potential scam.

Yeah, that’s 100% a scam.

1. No legit project or wallet will ever ask for your 12-word recovery phrase. The moment you share that, they can empty your wallet.
2. The drop in value (56 SUI → 4.5) just means the token was a classic pump-and-dump or rug pull. It’s unfortunately common with random “alpha” coins.
3. If you already gave them your seed phrase, assume your funds are gone. If you haven’t, never share it and move your remaining SUI/coins immediately to a new wallet with a fresh seed.

You didn’t just “lose money”—this is how scammers operate: hype up a worthless token, then trick buyers into handing over wallet access.

To be safe: create a brand-new wallet, transfer any remaining legit assets there, and ignore anyone asking for recovery phrases.

It is 100% a scam! No legit project will ever request for your 12/24 word phrase or your keys.