The crypto group has been left fearing the worst after seeing big sums of liquidity drained from the cryptocurrency challenge Safereum simply hours after its crew had finalized a large $600,000 fundraising.
Based on blockchain safety agency CertiK and different analysts, the builders of Safereum — utilizing the token deployment tackle “safereum.eth” — unlocked the availability of the token and dumped greater than 600 Ether (ETH) value of its holdings, inflicting the value of the Safereum (SAFEREUM) token to plunge greater than 94%.
We are able to affirm that @Safereumio has performed an exit rip-off for ~$1.3m
Eth: 0xb504035a11E672e12a099F32B1672b9C4a78b22f
safereum.eth unlocked Safereum tokens and offered. Moreover ~$597k was raised for the challenge’s SAFEPAD token.https://t.co/aAxjcEmdcH
— CertiK Alert (@CertiKAlert) October 23, 2023
The so-called rug pull got here after the crew finalized a fund increase of roughly $600,000 for a by-product token known as “Safepad.” These funds are understood to have constituted a part of the overall stolen sum, which totaled roughly 720 ETH — value $1.27 million at present costs.
CertiK famous that the illegitimate funds had since been distributed via a sequence of wallets, additional obfuscating the surveillance course of.
The official Safereum account on X (previously generally known as Twitter) has additionally been deleted.
On the time of publication, SAFEREUM is buying and selling for $0.0000008, down 94.1% from $0.000014 the place it was buying and selling earlier than the alleged exit rip-off.
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Pseudonymous NFT dealer Died.eth described the safereum rip-off as one of many extra “insane” rug pulls they’d witnessed.
“Safereum / safepad simply hit essentially the most insane rug I’ve ever seen, after finalizing their 700e safepad presale they’ve dumped over 600e of safereum and safepad for one closing exit,” they wrote in a put up to their 12,600 followers on X.
safereum / safepad simply hit essentially the most insane rug I’ve ever seen, after finalizing their 700e safepad presale they’ve dumped over 600e of safereum and safepad for one closing exit pic.twitter.com/HwX70DFCAr
— died.eth | idk.eth (@web site) October 23, 2023
In the meantime, a number of influencers have been known as out for his or her alleged roles in selling the Safereum challenge.
Blockchain sleuth ZachXBT pointed particularly to a pseudonymous consumer generally known as ProTheDoge for his or her position as an official promoter of the rip-off challenge, noting that this wasn’t the primary time that the consumer in query had finished little in the way in which of due diligence.
It appears the influencer ProTheDoge is again at it selling scams as an official associate of the challenge.
This time it was Safereum which simply rug pulled with 730+ ETH ($1.2M).
0x67c8423a7709aDB8ED31c04DcbB0C161637b807F pic.twitter.com/o5qi9rmC3e
— ZachXBT (@zachxbt) October 23, 2023
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