Just hours after the cryptocurrency project Safereum team completed a massive $600,000 fundraising, the cryptocurrency project’s huge liquidity was depleted and the crypto community began to fear the worst.
According to blockchain security firm CertiK and other analysts, Safereum’s developers used the token deployment address “safereum.eth” to unlock the supply of the token and dumped more than 600 Ethereum (ETH) worth of their holdings. , causing the Safereum (SAFEREUM) token to plummet more than 94%.
we can confirm @Safereumio Conducted approximately $1.3 million in exit scams
Ethereum: 0xb504035a11E672e12a099F32B1672b9C4a78b22f
safereum.eth Unlock and sell Safereum tokens. In addition, the project’s SAFEPAD token raised approximately $597,000.https://t.co/aAxjcEmdcH
— CertiK Alert (@CertiKAlert) October 23, 2023
The so-called “rug pull” came after the team eventually raised around $600,000 in funding for a derivative token called “Safepad.” It is understood that these funds formed part of the total amount stolen, which amounted to approximately 720 ETH, which is worth $1.27 million at current prices.
CertiK noted that the illicit funds were then distributed through a series of wallets, further confusing the monitoring process.
official Safe place The account on X (formerly Twitter) has also been deleted.
As of the time of publication, SAFEREUM is trading at $0.0000008, down 94.1% from the $0.000014 it held before the alleged exit scam.
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Anonymous NFT trader Died.eth describes the safereum scam as one of the most “crazy” scams they have ever witnessed.
“Safereum/safepad just hit the craziest carpet I’ve ever seen, after completing 700e safepad pre-sales they dropped over 600e safereum and safepad for one final exit,” they posted to their 12,600 followers on X wrote.
safereum/safepad just hit the craziest carpet I have ever seen, after completing pre-sales of 700e safepad they have dumped over 600e of safereum and safepad as a last resort pic.twitter.com/HwX70DFCAr
— dead.eth | idk.eth (@website) October 23, 2023
At the same time, some influential people is called They are accused of playing a role in promoting the Safereum project.
Blockchain sleuth ZachXBT singled out a pseudonymous user named ProTheDoge for his role as the official promoter of the scam project, noting that this was not the first time the user had done little in the way of due diligence.
It seems that the influential ProTheDoge is back to promote the scam as an official partner of the project.
This time it’s Safereum, which just pulled 730+ ETH ($1.2 million).
0x67c8423a7709aDB8ED31c04DcbB0C161637b807F pic.twitter.com/o5qi9rmC3e
— ZachXBT (@zachxbt) October 23, 2023
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