The threat of Check Point Intel Blockchain system has unveiled a new scam, making the light thrown on the persistent threat of rugs – a misleading tactic that causes financial losses for investors.
The company’s system has recently identified suspicious activities that are linked to a specific wallet address, which revealed an advanced schedule that managed to stack nearly $ 1 million.
Operated by the address 0x6B140e79DB4D9BBD80E5B688F42D1FCF8EF9779, the scam included the creation of tokens associated with trending topics to pull unsuspecting buyers.
Described in an advice published on Tuesday, the scheme unfolded with the establishment of the aforementioned counterfeit tokens, including Grok 2.0, followed by the injection of funds in the Token Pool to create an illusion of legitimacy.
Simulated trading activities, orchestrated by the scammer, gave the appearance of market activity, further enhanced by transactions between the Weth Cryptocurrency and the grok -token. The blown -in demand successfully attracted investors, and when a critical mass was reached, the scammer quickly withdrew liquidity from the token pool, so that investors walked considerable losses.
Read more about rugs are: Crypto firm pulls the carpet from under investors with $ 10 million scam
Behind the scenes, the schedule included two different smart contracts, each with a crucial role in the trade and the artificial volume of token.
A total of 226 transactions were carried out using the function 0x521DA65D. At the same time, the contract at the address at the address 0x4b2a0290e41623fbf6a0ea52DC261B65E29B The function 0xf029e7cf, which increased the Token’s volume by strategic swaps between Weth and GROK tokens.
Check Point said that this incident emphasizes the inherent risks on the cryptocurrency market, which underlines the importance of constant vigilance and due diligence.
“While the crypto landscape continues to evolve, it is vigilant and informed for investors for investors,” the company wrote.
“The recent carpet -trap -incident serves as a grim memory of the need for increased consciousness and due diligence. By understanding the tactics of scammers, we can work together to create a safer and safer crypto environment.”