There are several clear signs that investors can watch out for to protect themselves from rug pulls such as the liquidity not being locked and no external audit having been conducted. The following are six signs users should watch out for to protect their assets from crypto rug pulls. Unknown or anonymous developers Investors should consider the credibility of the … [Read more...] about What is a rug pull in crypto and 6 ways to spot it
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Youtuber and alleged thief publicly refuses to return investors’ funds after $750k rug pull
On Wednesday, American Youtuber and "internet detective" Coffeezillaa published a recorded interview of himself and disgraced Youtuber Paul "Ice Poseidon" Denino. During the session, Denino allegedly confirmed that he made off with $750k worth of his investors' money through rug pulling a crypto project dubbed "Cxcoin."The ordeal started last July, when Denino created the … [Read more...] about Youtuber and alleged thief publicly refuses to return investors’ funds after $750k rug pull
Cyber vigilante hunts down DeFi scammers running away with $25M rug pull
In the world of digital finance, where the weapon of choice for a heist is a computer rather than a semi-automatic firearm, tracking down scams and frauds from across the world becomes a near-impossible feat for centralized police forces. However, in an interview with Cointelegraph, an anonymous cyber vigilante shares insights into how he went about tracking down a group of … [Read more...] about Cyber vigilante hunts down DeFi scammers running away with $25M rug pull
CertiK’s identification of Crypto Cars as ‘rug pull’ was a false alarm
In a period of market downturns, rumors of crypto bans and decentralized finance, or DeFi scams, blockchain enthusiasts can be sensitive to the smallest abnormalities within projects they follow and sometimes erroneously fear for the worse. The day prior, CertiK, a leading cybersecurity ranking platform in the blockchain space, issued a warning via Twitter regarding CryptoCars, … [Read more...] about CertiK’s identification of Crypto Cars as ‘rug pull’ was a false alarm
Chinese police unearth multi-million dollar DeFi rug pull
Beijing’s crackdown on crypto continued with the start of the new year as Chinese police froze nearly 6 million yuan ($1 million) worth of crypto and arrested eight people involved with it. As per a report published in Nikkei Asia, the public security bureau of Chizhou unearthed a crypto rug pull fraud that could be worth 50 million yuan ($7.8 million). The police began an … [Read more...] about Chinese police unearth multi-million dollar DeFi rug pull