1 year ago
According to blockchain information analysts, the developers of the Safereum task abruptly sold much than 700 ETH worthy of its autochthonal token, sending the terms of SAFEREUM plunging much than 90%.
The crypto assemblage has been near fearing the worst aft seeing immense sums of liquidity drained from the cryptocurrency task Safereum conscionable hours aft its squad had finalized a monolithic $600,000 fundraising.
According to blockchain information steadfast CertiK and different analysts, the developers of Safereum — utilizing the token deployment code “safereum.eth” — unlocked the proviso of the token and dumped much than 600 Ether (ETH) worthy of its holdings, causing the terms of the Safereum (SAFEREUM) token to plunge much than 94%.
We tin corroborate that @Safereumio has conducted an exit scam for ~$1.3m
Eth: 0xb504035a11E672e12a099F32B1672b9C4a78b22f
safereum.eth unlocked Safereum tokens and sold. Additionally ~$597k was raised for the project’s SAFEPAD token.https://t.co/aAxjcEmdcH
The alleged rug propulsion came aft the squad finalized a money rise of astir $600,000 for a derivative token called “Safepad.” These funds are understood to person constituted portion of the full stolen sum, which totaled astir 720 ETH — worthy $1.27 cardinal astatine existent prices.
CertiK noted that the illegitimate funds had since been distributed done a bid of wallets, further obfuscating the surveillance process.
The authoritative Safereum relationship connected X (formerly known arsenic Twitter) has besides been deleted.
At the clip of publication, SAFEREUM is trading for $0.0000008, down 94.1% from $0.000014 wherever it was trading earlier the alleged exit scam.
The terms of the Safereum token plummeted much than 95% aft developers allegedly rugged the project. Source: CoinMarketCapRelated: Web3 crippled task allegedly hired actors to airs arsenic executives successful $1.6M exit scam
Pseudonymous NFT trader Died.eth described the safereum scam arsenic 1 of the much “insane” rug pulls they’d witnessed.
“Safereum / safepad conscionable deed the astir insane rug I've ever seen, aft finalizing their 700e safepad presale they've dumped implicit 600e of safereum and safepad for 1 last exit,” they wrote successful a station to their 12,600 followers connected X.
safereum / safepad conscionable deed the astir insane rug I've ever seen, aft finalizing their 700e safepad presale they've dumped implicit 600e of safereum and safepad for 1 last exit pic.twitter.com/HwX70DFCAr
— died.eth | idk.eth (@website) October 23, 2023Meanwhile, respective influencers person been called retired for their alleged roles successful promoting the Safereum project.
Blockchain sleuth ZachXBT pointed specifically to a pseudonymous idiosyncratic known arsenic ProTheDoge for their relation arsenic an authoritative promoter of the scam project, noting that this wasn’t the archetypal clip that the idiosyncratic successful question had done small successful the mode of owed diligence.
It seems the influencer ProTheDoge is backmost astatine it promoting scams arsenic an authoritative spouse of the project.
This clip it was Safereum which conscionable rug pulled with 730+ ETH ($1.2M).
0x67c8423a7709aDB8ED31c04DcbB0C161637b807F pic.twitter.com/o5qi9rmC3e
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