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blockchain security company On this account, the company warned of the threat of a potential "rug-pull" by project developers, according to a on Jan. 13.shield inc said thursday that it has identified more than 50 potential scam tokens on the smart chain (
On this account, the company warned of the threat of a potential "rug-pull" by project developers, according to a on Jan. 13.shield analyzed dozens of smart contracts for early-stage projects and found malicious functions that allow team leaders, who operate incognito, to mint an unlimited number of tokens, blacklist accounts, and prevent users from selling their assets.
On this account, the company warned of the threat of a potential "rug-pull" by project developers, according to a Jan. 13. a “rug pull” happens when developers in cryptosphere make off with investor funds, abandoning a project.
Peckshield noted that the smart contracts for the tokens in question were developed with a clearly malicious intent – enabling investors to buy the tokens.
Cannot sell them because the price of the asset increases in value. This strategy, often called a "honey pot", is popular with cyber criminals, who prey on fomo retail (fear of missing).
classic example of the “honeypot” is squid, a token created after the beloved netflix show of the same name, squid games. Classic example of the "honey pot" is the squid, a token created after the popular netflix show of the same name, squid games.
The token rose more than 28,000% in just a few days before falling to zero after the project's founders removed the mat, stealing $12 million. most of the tokens are valueless because of a lack of users, but one particular token using the ticker symbol trump stands out.
, which has a total supply of 100 million, clocked around $145,000 in trading volume over the past seven days. some 271 investors currently hold the token that posted a liquidity of just under $30,000 on pancakeswap
On this account, the company warned of the threat of a potential "rug-pull" by project developers, according to a on Jan. 13.Most chips are worthless due to a shortage of users. A particular chip using the ticker symbol symbol stands out. , which has a total supply of 100 million, recorded a transaction volume of about $145,000 in the last seven days. the latest involves the theft of over $2.6 million in crypto from several initial dex offerings (ido), as reported by security firm rugdoc on jan. 12.
