A scam for half a million. MetaSwap NFT platform turned out to be a scam

Briefly:

  • Cybersecurity service PeckShield caught MetaSwap cheating
  • They ran the so-called “rug pull” scheme
  • After the announcement, the project token has fallen in price almost twice

Blockchain PeckShield inspectors have exposed yet another swindler. This time, the culprit was MetaSwap, a protocol that allows NFTs to be exchanged via Ethereum, Binance, and Polygon. He is accused of a scam on 1536 BNB (at the current exchange rate, this is almost 591 thousand dollars).

Details

PeckShield is a cybersecurity company that oversees popular blockchain projects. A couple of hours ago, they discovered suspicious behavior from the MetaSwap team. According to PeckShield, the developers carried out a so-called rug pull. They have already managed to output 1536 to the Tornado Cash mixer:

Help:

Rug pull is a scam in which criminals create a dummy project, issue tokens for it and look for gullible investors. Then, when the tokens become more expensive, the owners drastically withdraw all assets, leaving investors with nothing.

The charges against MetaSwap have yet to be proven, but the company hastily removed all social media pages.

Crypto Scam Wave

According to the Chainalysis Crypto Crime Report, this year the total “income” of crypto scammers has increased by 37% compared to the past. At the same time 100% of money criminals receive just through the rug pull scheme. One of the most notorious recent scams was a project based on the “Squid Game.”

To avoid becoming a victim of a scam, you need to check a number of important factors. Here is an article to help you on how to choose an ICO.

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