Crypto developer commits $2M rug pull fraud to fuel gambling addiction

Source: CoinGeckoUnlike other carpet pulls, the designer decided to leave a letter to the jobs neighborhood, asking forgiveness for his actions, and blaming his gaming addiction for the move before erasing and vanishing all the projects social media platforms.Various investors shared a screenshot of the designers message on social media. Related: How to identify a rug pull in DeFi: 6 ideas from CointelegraphCommunity members were outraged by the rug pull, with some wishing karma upon the designer and others explaining the relocation as the worst birthday present, and a weird ending to a rug pull. The Twitter user declared he lost around $30,000 after relying on the designers and investing in the job.

Trader Crypto Daddi lamented that the carpet pull taken place on his birthday. The Twitter user claimed he lost around $30,000 after trusting the designers and investing in the project. Publication: Should crypto tasks ever work out with hackers?

According to a Reddit post, a designer has actually published an unusual goodbye note, saying sorry and blaming his online gambling issues after leaving a project in disarray, turning a $2 million evaluation into $20,000 within minutes.Several financiers in the Encryption AI task have actually reported that its developer performed a carpet pull throughout a liquidity migration event. As a result, the projects token, 0XENCRYPT, went from trading at around $2.05 to a lowest level of $0.02. Token data aggregator CoinGecko tape-recorded the enormous price drop around July 2.Seven-day price chart for Encryption AIs token. Source: CoinGeckoUnlike other rug pulls, the developer decided to leave a letter to the projects community, excusing his actions, and blaming his gambling dependency for the relocation before vanishing and deleting all the tasks social networks platforms.Various investors shared a screenshot of the designers message on social networks. Within the post, the designer shared his struggles with gambling and highlighted that he lost $300,000 in online casinos. In addition, though the designer was unable to guarantee that he would apologize or relaunch the project, he guaranteed to “strive to end up being a better person.” Related: How to find a rug pull in DeFi: 6 suggestions from CointelegraphCommunity members were outraged by the rug pull, with some wanting karma upon the designer and others describing the relocation as the worst birthday present, and an odd ending to a carpet pull. This one hurts bad. # 0xEncrypt dev simply rugged difficult on the migration. Twitter likewise been deleted. Played all of us the way. I feel sick.Karma is coming for you, sleazebag. pic.twitter.com/o2axnvFZFN— GEMINHIGH (@Geminhighi) July 2, 2023

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