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Over $1M lost in Polygon-based Dragoma rug pull

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Polygon-based play-to-earn sport Dragoma has allegedly been rug pulled, as over $1 million was moved from the mission to centralized change wallets.

Blockchain safety firm PeckShield first reported the alleged rug pull, noting the sharp decline within the worth of Dragoma’s token DMA.

Based on out there data, over $420,000 USDT and 880,000 MATIC had been rugged from the mission.

DMA’s worth fell sharply from $1.8 to lower than $0.0023 within the final 4 hours. The token was extensively hailed as one of many high gainers on August 6 after its worth rallied by over 160%.

The extent of the rug pull is unknown; nevertheless, over 5700 pockets addresses held Dragoma, in response to information on Polygonscan. One crypto neighborhood member misplaced $10,000 to the rug pull.

The GameFi software web site is at present inaccessible, and its Telegram channel has been deleted. Different social media platforms like Twitter have additionally been deleted.

In the meantime, the rug pull comes lower than a day after the MEXC World change listed the token in its Evaluation Zone and opened the DMA/USDT buying and selling pair.

Nevertheless, the change has launched new data on its weblog stating that it has suspended buying and selling of the token until additional discover due to “irregular on-chain transfers of Dragoma (DMA).”

Dragoma is a move-to-earn sport much like Solana STEPN. Pitching itself as a Web3 way of life sport, it allowed gamers to earn the DMA token for performing a number of actions starting from coaching a dragon to pet fight.

Non-fungible tokens play an integral half within the sport. The Dragon eggs hatch after 40 days of the participant strolling 500 meters each day. The beta model of Dragoma world was set to launch on the finish of August.

Posted In: Polygon, Scams





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ZachXBT alleges crypto influencer Lark Davis made over $1M dumping crypto projects

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Xeggex

Self-proclaimed on-chain sleuth ZachXBT alleged that in style crypto influencer Lark Davis remodeled $1 million whereas selling low-cap crypto tasks and dumping them on his followers in a Sept. 29 Twitter thread.

ZachXBT cited eight cases the place Lark promoted low-cap tasks earlier than dumping them on unsuspecting members of his group.

The primary case was in February 2021, when he promoted $UMB. In line with ZachXBT, an handle linked to Lark had acquired 62,500 UMB tokens after which dumped them virtually instantly after his promotion, making a revenue of $136,000.

Lark allegedly repeated this format for $DOWS on March 1, incomes $56,000 after dumping the tokens he promoted hours earlier.

Lark allegedly shilled different tokens, together with $SHOPX, $BMI, $PMON, $XED, and $APY. In all of those instances, he promoted the tokens instantly after they launched after which bought off the portion of the tokens he acquired for the promotion.

In Larks’ promotion for $BMI, he tweeted that he had doubled his place within the token, however ZachXBT revealed that the crypto influencer’s important pockets didn’t present that he had executed as he mentioned.

In the meantime, Lark regularly claimed that he doesn’t receives a commission for his promotion of those tasks regardless of being supplied “truck a great deal of cash day by day to take action.”

ZachXBT additionally identified that each one the tasks Lark promoted had poor tokenomics. In line with him, this is the reason they “went to zero earlier than the bear market even started. Additionally no respectable VCs actually ever contact them.”

Lark Davis didn’t reply to CryptoSlate’s request for remark as of press time.

The crypto sleuth added that there isn’t a crime for an influencer to take part in seed rounds or discuss tasks they appreciated so long as that is executed in a clear method.

Lark will not be the primary crypto influencer ZachXBT had investigated and accused of dumping on his followers. Earlier within the yr, the crypto investigator accused Logan Paul of selling a number of pumps and dump schemes.

Widespread crypto YouTuber Ben Armstrong, aka BitBoy Crypto, was just lately accused of dumping on his followers by one other YouTuber Atozy. BitBoy filed a defamation lawsuit in opposition to the accuser however later dropped the case after stress from the crypto group.





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Do Kwon claims ‘zero effort to hide’ after Interpol reports

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Regulation enforcement are searching for Do Kwon, who’s allegedly now not in Singapore.

Terraform Labs founder Do Kwon has as soon as once more acknowledged he’s not hiding from authorities – this time after South Korea prosecutors reportedly revealed an Interpol ‘Crimson Discover’ was out for the embattled Korean nationwide.

However at the same time as South Korea police says Kwon is on the run, he has come out to disclaim these reviews – albeit from the consolation of solely showing on Twitter.

Kwon claims ‘zero effort to cover’

It’s a number of months for the reason that cryptocurrency Terra Luna and stablecoin TerraUSD (UST) fell to zero to mark certainly one of crypto’s largest unfavorable occasions of 2022. 

The contagion that adopted to depart tasks like crypto hedge fund Three Arrows Capital ‘useless’ and crypto lenders Celsius Community and Voyager Digital bankrupt solely heightened the influence to crypto traders and helped add to the sharp regulatory consideration on the business.

Do Kwon type of determined to lie low, even when to resurface not too long ago and refute claims that he was operating from legislation enforcement.

On Monday, he once more tweeted about his being round with out desirous to reveal the place he was. In a reply to at least one tweet on the place he may be as legislation enforcement appears for him, he stated he “was making zero effort to cover.” 

In actual fact, he goes on walks or to malls and puzzled why nobody from crypto twitter hadn’t run into him.

He additionally appeared to downplay the Interpol arrest warrant reviews, noting that he had tried looking for the Crimson Discover in his title however couldn’t discover it on the Interpol web site.

A Twitter person identified that by attempting to indicate that there was no ‘discover’ Kwon was being conceited, the Terraform Labs founder responded:

I’m actually simply conveying the outcomes of a publicly obtainable web search question. Undecided what a part of that conveys vanity.”

He, nevertheless, has been made conscious that not all wished individuals names are listed on the Interpol web site.





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Interpol issues a red notice for Terraform’s Do Kwon

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Terraform Lab’s co-founder Do Kwon is now on Interpol’s record because the talks concerning the collapse of the LUNA and UST stablecoins proceed.

Bloomberg reported a number of hours in the past that the South Korean authorities has revealed that Interpol requested legislation enforcement worldwide to find and arrest Terraform Labs co-founder Do Kwon.

Do Kwon faces fees associated to the $60 billion wipeout of cryptocurrencies he created, the report added. 

Prosecutors in Seoul stated earlier at the moment in a textual content message that Interpol had issued a Crimson Discover for Kwon. Nevertheless, there have been no feedback from Interpol, Do Kwon, and Terraform Labs thus far. 

This newest growth comes roughly two weeks after a South Korean courtroom issued a warrant for Kwon’s arrest. A number of days after the arrest warrant, Do Kwon claimed that he was not on the run, with the South Korean prosecutors asking Interpol to challenge a pink discover in opposition to Terraform Labs’ co-founder. 

Kwon’s location is at the moment unknown, with authorities in Singapore revealing a number of weeks in the past that was not n the city-state. 

Do Kwon and different Terraform Labs executives at the moment face allegations that they violated capital markets legal guidelines in South Korea.

Terra’s cash, LUNA and the UST stablecoins worn out over $40 billion inside a few days in what was one of many largest declines within the cryptocurrency market’s historical past.

The crash of the Terra blockchain and its cash resulted in a widespread crash inside the broader crypto market. Over the previous yr, cryptocurrencies have misplaced greater than 60% of their worth, with the overall crypto market cap now under $1 trillion.

LUNA was one of many prime 10 cryptocurrencies by market cap previous to its crash, whereas UST was gaining traction as one of many main stablecoins out there.

Terraform Labs has since rebranded its mission, with the LUNC token and USTC stablecoin now its main tokens.



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