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Detail Analysis

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Date:

Status:

Count:

Contributor:

April 14, 2022

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Verified

1

zerofriction.io

Loss Amount:

Undisclosed

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Recovered Amount:

-

Currency:

Dollars

KYC By:

Audit By:

None

None

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Key Indicators

Platform:

Type:

Category:

Method:

Binance Smart Chain

Exchange

Dexes

Scams

Extended Method:

Rug Pull

Data Sources:

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MetalSwap is the first-ever decentralized metal exchange on BNB smart chain.

According to the developers, as they were trying to correct the smart contracts, some large whales detected the change and sold their position leading to 'dramatic' decline in the value of $Metal and decrease overall $Metal liquidity.

The developers further claimed that 'we do not have enough funds to support the further development of MetalSwap and maintain our community'. Accordingly, MetalSwap ownership will be transferred back to the community as a DAO.

From our analysis, we believe this to be another rug pull.

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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.