Rug Pull In Crypto
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OM Token’s Sudden Plummet Stirs Rug Pull Fears, Mantra Blames ‘Sudden Liquidation’ Â
Mantra Blockchain’s OM token suffered a sharp price drop over the weekend, which the team attributed to reckless liquidations, dismissing speculation of a hack or rug pull. The token fell by 90 percent in value from $6 (roughly Rs. 515) to $0.70 (roughly Rs. 60.5), raising alarms across the crypto community.Â
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Creator of Mutant Ape Yacht Club NFT Knock-Offs Pleads Guilty of Rug Pull, Theft
Aurelien Michel, the developer behind NFT collection named the ‘Mutant Ape Planet’ series, has pleaded guilty to defrauding innocent members of the crypto community. Michel was luring-in investors to purchase his fake Mutant Apes-inspired NFT pieces before he abandoned the project all together.
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Rug Pull In Crypto: What It Is And How To Avoid The Scam
Scamsters have defrauded thousands of people of an estimated Rs 200 crore across Himachal Pradesh by promising high returns in a short period through investment in crypto assets.
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PayPal’s Stablecoin Launch Opens Floodgates for Scam Tokens; Here’s How to Identify Real PYUSD
Over 30 pairs of scam tokens copying PayPal’s PYUSD stablecoin have been spotted by crypto analysts in the last few hours. Fake cryptocurrencies are most commonly used by scammers to perform rug pull and honeypot types of crypto scams, leaving investors and customers high and dry.
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KuCoin Awaits Legal Notice to Freeze Assets of Crypto Rug Pull Scammer: Details
KuCoin, the Seychelles-based crypto exchange, has decided to not freeze the assets of this user whose name remains undisclosed, unless a law enforcement agency sends over a legal notice instructing the exchange to do so. In its justification for delaying the blocking of assets linked to this scammer, KuCoin has said it will follow the laws of Seych...
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Over 117,620 Scam Tokens Launched Into Crypto Market in 2022; Binance, Ethereum Most Used for Fraud: Report
This year, over 117,620 scam tokens were launched into the global crypto market that managed to dupe several people of their hard-earned funds, Solidus Labs, a crypto trade research organisation said in its latest ‘Rug Pull Report’. Binance’s BNB Chain and Ethereum have respectively emerged as the two blockchains, most used by fraudsters to h...
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‘Frosties’ NFT Series Creators Arrested in US Over ‘Rug Pull’ Scam
NFT creators Ethan Nguyen and Andre Llacuna have been arrested in the US for scamming collectors with their ‘Frosties’ series. The 20-year-olds have been charged with fraud and laundering money into different crypto wallets controlled by them. The maximum sentences for their charges could send them into years of jail time as per the US law.
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Crypto Investors Duped of $1 Million via Bogus MetaMask Token, Scam Classified as Honeypot and Rug Pull
A fake MetaMask token was created using tools from the DexTools site. The bogus token quickly grew by 2,600 percent and as soon as tokens worth $1 million (roughly Rs. 7.4 crore) were sold, the sale of the fake MetaMask tokens was halted.
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Crypto Scams Rose by 81 Percent, Rug Pulls Cost Investors Over $7.7 Billion in 2021: Chainalysis
In a recent report, research firm Chainalysis revealed that scams mooched off over $7.7 billion (roughly Rs. 58,697 crore) in 2021. Out of these scams, rug pulls cost crypto investors over $2.8 billion (roughly Rs. 21,333 crore).
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OM Token’s Sudden Plummet Stirs Rug Pull Fears, Mantra Blames ‘Sudden Liquidation’ Â
Mantra Blockchain’s OM token suffered a sharp price drop over the weekend, which the team attributed to reckless liquidations, dismissing speculation of a hack or rug pull. The token fell by 90 percent in value from $6 (roughly Rs. 515) to $0.70 (roughly Rs. 60.5), raising alarms across the crypto community.Â
-
Creator of Mutant Ape Yacht Club NFT Knock-Offs Pleads Guilty of Rug Pull, Theft
Aurelien Michel, the developer behind NFT collection named the ‘Mutant Ape Planet’ series, has pleaded guilty to defrauding innocent members of the crypto community. Michel was luring-in investors to purchase his fake Mutant Apes-inspired NFT pieces before he abandoned the project all together.
-
Rug Pull In Crypto: What It Is And How To Avoid The Scam
Scamsters have defrauded thousands of people of an estimated Rs 200 crore across Himachal Pradesh by promising high returns in a short period through investment in crypto assets.
-
PayPal’s Stablecoin Launch Opens Floodgates for Scam Tokens; Here’s How to Identify Real PYUSD
Over 30 pairs of scam tokens copying PayPal’s PYUSD stablecoin have been spotted by crypto analysts in the last few hours. Fake cryptocurrencies are most commonly used by scammers to perform rug pull and honeypot types of crypto scams, leaving investors and customers high and dry.
-
KuCoin Awaits Legal Notice to Freeze Assets of Crypto Rug Pull Scammer: Details
KuCoin, the Seychelles-based crypto exchange, has decided to not freeze the assets of this user whose name remains undisclosed, unless a law enforcement agency sends over a legal notice instructing the exchange to do so. In its justification for delaying the blocking of assets linked to this scammer, KuCoin has said it will follow the laws of Seych...
-
Over 117,620 Scam Tokens Launched Into Crypto Market in 2022; Binance, Ethereum Most Used for Fraud: Report
This year, over 117,620 scam tokens were launched into the global crypto market that managed to dupe several people of their hard-earned funds, Solidus Labs, a crypto trade research organisation said in its latest ‘Rug Pull Report’. Binance’s BNB Chain and Ethereum have respectively emerged as the two blockchains, most used by fraudsters to h...
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‘Frosties’ NFT Series Creators Arrested in US Over ‘Rug Pull’ Scam
NFT creators Ethan Nguyen and Andre Llacuna have been arrested in the US for scamming collectors with their ‘Frosties’ series. The 20-year-olds have been charged with fraud and laundering money into different crypto wallets controlled by them. The maximum sentences for their charges could send them into years of jail time as per the US law.
-
Crypto Investors Duped of $1 Million via Bogus MetaMask Token, Scam Classified as Honeypot and Rug Pull
A fake MetaMask token was created using tools from the DexTools site. The bogus token quickly grew by 2,600 percent and as soon as tokens worth $1 million (roughly Rs. 7.4 crore) were sold, the sale of the fake MetaMask tokens was halted.
-
Crypto Scams Rose by 81 Percent, Rug Pulls Cost Investors Over $7.7 Billion in 2021: Chainalysis
In a recent report, research firm Chainalysis revealed that scams mooched off over $7.7 billion (roughly Rs. 58,697 crore) in 2021. Out of these scams, rug pulls cost crypto investors over $2.8 billion (roughly Rs. 21,333 crore).
