Rug pull feared as Safereum devs reportedly unlock and dump native token

The crypto neighborhood has been left fearing the worst after seeing big amounts of liquidity drained pipes from the cryptocurrency project Safereum simply hours after its group had actually completed an enormous $600,000 fundraising.According to blockchain security firm CertiK and other analysts, the designers of Safereum– utilizing the token deployment address “safereum.eth”– opened the supply of the token and disposed more than 600 Ether (ETH) worth of its holdings, triggering the cost of the Safereum (SAFEREUM) token to plunge more than 94%. The official Safereum account on X (formerly understood as Twitter) has actually likewise been deleted.At the time of publication, SAFEREUM is trading for $0.0000008, down 94.1% from $0.000014 where it was trading before the alleged exit rip-off. The rate of the Safereum token dropped more than 95% after designers apparently rugged the project.

Thank you for reading this post, don't forget to subscribe!

idk.eth (@website) October 23, 2023

The crypto community has actually been left fearing the worst after seeing substantial amounts of liquidity drained from the cryptocurrency job Safereum just hours after its team had actually completed an enormous $600,000 fundraising.According to blockchain security firm CertiK and other experts, the developers of Safereum– using the token deployment address “safereum.eth”– unlocked the supply of the token and discarded more than 600 Ether (ETH) worth of its holdings, causing the cost of the Safereum (SAFEREUM) token to plunge more than 94%. #CertiKSkynetAlert We can verify that @Safereumio has actually conducted an exit rip-off for ~$ 1.3 mEth: 0xb504035a11E672e12a099F32B1672b9C4a78b22fsafereum. eth unlocked Safereum tokens and sold. In addition ~$ 597k was raised for the jobs SAFEPAD token.https:// t.co/ aAxjcEmdcH– CertiK Alert (@CertiKAlert) October 23, 2023

Magazine: Blockchain detectives– Mt. Gox collapse saw birth of Chainalysis

Meanwhile, a number of influencers have been called out for their declared functions in promoting the Safereum project.Blockchain sleuth ZachXBT pointed particularly to a pseudonymous user understood as ProTheDoge for their function as an official promoter of the scam task, keeping in mind that this wasnt the first time that the user in question had actually done little bit in the method of due diligence. It seems the influencer ProTheDoge is back at it promoting frauds as a main partner of the task. This time it was Safereum which simply carpet pulled with 730+ ETH ($ 1.2 M).0 x67c8423a7709aDB8ED31c04DcbB0C161637b807F pic.twitter.com/o5qi9rmC3e— ZachXBT (@zachxbt) October 23, 2023