Tag: rug pull

Aug 23 2022

NFT Exchange SudoRare Rug Pull $800,000 Hours After Launch, Goes Offline

Aug 23 2022 Published at Bitcoinist.com under tags  crypto news kraken looksrare nft rug pull

On Tuesday, NFT exchange SudoRare defrauded users of around $820,000 in different crypto currencies. Prior to pulling the rug and shutting down its website and its associated social media profiles, SudoRare had only been operational for six hours. SudoRare Stole $820,000 Before erasing the project's online presence on Tuesday, the creators of the non-fungible token (NFT) platform Sudorare made off with customers' cryptocurrencies...

NFT Exchange SudoRare Goes Dark After $820,000 Rug Pull

Aug 23 2022 Published at Crypto Briefing under tags  analysis rug pull sudorare

The SudoRare NFT exchange was live only six hours before executing the rug pull and taking down its website and all affiliated social media accounts. SudoRare Disappears With $820,000 After...

Aug 08 2022

Over $1M lost in Polygon-based Dragoma rug pull

Aug 08 2022 Published at CryptoSlate under tags  dragoma polygon rug pull scams solana

Polygon-based play-to-earn game Dragoma has allegedly been rug pulled, as over $1 million was moved from the project to centralized exchange wallets. #PeckShieldAlert...

Jul 01 2022

U.S. DoJ Slaps Charges Against Promoters of Baller Ape Club NFT In Rug Pull Scam

On Thursday, June 30, the U.S. Justice Department slapped charges against a person promoting “Baller Ape Club” non-fungible tokens, in what appears to be an alleged rug pull scam. The U.S. DoJ has reportedly named five people involved in crypto fraud schemes which together raised more than $130 million from investors. In a statement released...

May 30 2022

Terra Relaunch Is Already Inspiring A Slew Of Scam Tokens

May 30 2022 Published at Coingape under tags  news rug pull terra (luna)

The recent Terra relaunch appears to have inspired several similarly named scam tokens and fake accounts attempting to fool investors. Leading...

May 20 2022

Is SafeMoon A Billion Dollar Fraud? Coffeezilla Thinks So – Pt.3: V2 Contract

According to Coffeezilla, the V2 Contract was the project’s first and only original idea. The operators basically modified the fee structure and little else, but SafeMoon did change the code. “The big question became “how do you get everyone to switch over to this v2 token?”, the narrator asks. As we enter the saga’s final chapter, it’s worth remembering that this whole thing...

May 18 2022

Is SafeMoon A Billion Dollar Fraud? Coffeezilla Thinks So – Pt.2: Pheonix

A new chapter in the exciting SafeMoon saga. In the previous one, Coffeezilla introduced the story, explained how the token functions, and took us through the first part of the alleged rug pull. This time, we go straight to the project’s operators slowly extracting...

Apr 27 2022

New York Prosecutors Present Clear Legal Framework Related To Crypto Crimes

Apr 27 2022 Published at Bitcoinist.com under tags  crypto news new york rug pull

New York State Senator Kevin Thomas, has proposed a bill that seeks to criminalize illegal crypto rug pulls. The lawmakers of New York state seemed to have been rubbed off the wrong way as it has been passing stringent signals to the crypto industry. The legislative amendment in concern proposes penalties for rug pulls and other illegal scams related to digital...

New Report: Blockchain Hackers Stole $1.3 Billion In Q1 2022

Apr 27 2022 Published at Bitcoinist.com under tags  crypto news cybercrime defi hacks nft

Despite the drop in bitcoin prices at the beginning of the year, thieves did not take a break. Hackers and scammers made millions of dollars from attacks on numerous crypto projects and ecosystems. According to the Atlas VPN team's new research, blockchain hackers stole approximately $1.3 billion in 78 hack events in the first quarter of 2022. Furthermore, hacks on the Ethereum and...

Mar 25 2022

The Alarming Double Edge of Web3: Beyond The Solana Hack

Mar 25 2022 Published at Bitcoinist.com under tags  cashio hack nfts rug pull solana

Web3 tumbles as the Solana-based stablecoin Cashio lost its value after an experienced attacker exploited it for around $28 million. As the bloodshed of rug pulls grows, it is worth discussing what is at stake in the bigger picture....

Another Crypto Scam: Former Party Producer Charged In $2.7 Million ‘Cash-To-Bitcoin’ Plot

A New York man was charged Friday with operating a crypto money laundering scam that he publicly promoted on social media, bragging to clients he could help them stay "totally off the radar." The individual, a former party organizer, was charged by the Manhattan District Attorney with laundering $2.7 million in bitcoin and cash to assist various customers in concealing money gained through...

Feb 25 2022

[Updated] Atom Protocol Suffers Rug Pull Hours After Launch

Feb 25 2022 Published at Altcoin Buzz under tags  avalanche defi rug pull

The crypto space is mostly a decentralized environment that supports anonymous transactions. Most scams, hacks, and rug pulls leverage this anonymity to exploit the space. Unfortunately, rug pulls and hacks are not strangers to the crypto world. An Avalanche-based project became the latest to commit a rug pull a few hours after it launched. The Atom Protocol, a DeFi project on Avalanche, currently...

Feb 21 2022

Jake Paul, Soulja Boy, Other Celebs In Hot Water For Pump-Dump Scheme – Is SafeMoon, Safe?

Celebrities Jake Paul, Soulja Boy, and Nick Carter, among others, are being sued for being involved in the SafeMoon crypto scheme. Claims say that the hired stars made “false or misleading statements” to encourage fans to invest in the digital coin. SafeMoon LLC, the company behind the $SAFEMOON Token, is facing a...

Feb 11 2022

Coinbase Discards Cryptocurrency Links After ‘Rug Pull’ Threats

Coinbase Global has eliminated ‘how to buy’ directions for almost three crypto tokens due to ‘rug pull’ threats that can lead to investors losing their investment, reported on Thursday, February 10, 2022. The purpose is to enhance security measures....

Feb 07 2022

Rug Pull: Don’t Be Fooled! Here Are 5 Ways To Detect If Someone’s About To Scam You

Last October, a rug pull devastated investors eager to make money from cryptocurrency token “SQUID,” named after the popular Netflix show Squid Game. With its bandwagon hype, the token’s value skyrocketed by a whopping 23,000,000% to $2,862 within a week. It took less than five minutes though before the value rapidly plummeted to $0.0007926 as...

Jan 28 2022

Mark Cuban Reveals His Biggest Crypto Mistake. Here’s How Much He Lost

No one is immune to bad decisions when it comes to crypto investing and Mark Cuban is an example of that. The billionaire recently revealed that he too had made a grave investing mistake that had cost him a lot of money. Cuban opened up to the New York Times in a recent report about how a lack of research had led him...

Jan 18 2022

China Police Makes Rug Pull-related Arrests Amid Total Crypto Ban

Jan 18 2022 Published at Coingape under tags  china ban china police crypto ban news rug pull

No less than 8 people have been arrested by China police in relation to a RMB 50 million ($7.8 million) rug pull. The announcement...

Jan 13 2022

Jan 07 2022

Metaland DAO Suffers Rug Pull Following an Over 80% Drop in Price

Jan 07 2022 Published at Altcoin Buzz under tags  defi peckshield rug pull

A popular blockchain security firm, PeckShield, recently issued an alert tweet saying that Metaland DAO had suffered a rug pull on Friday, January 7th. The project seems to be one of the most recent scams in the crypto community. A Rug Pull According to PeckShield, Metaland DAO had an incurring loss of over 640 BNB, which is about $286,748. Furthermore, its native token,...

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