w3m-65W3MAccording to CoinDesk, on February 23, blockchain security company PeckShield tweeted that the developers of the BNB Chain (formerly BSC)-based Web3Memes (W3M) token have withdrawn nearly 625 of the token’s liquidity pool. BNB and transferred it to TornadoCash. At the time of writing, that amount is worth $235,000. Blockchain data shows that the token was created early today and listed on BSC-based PancakeSwap shortly after. Over the following hours, more than 1,800 transactions appeared on W3M, with over 1,000 holders at this writing. However, anonymous developers withdrew W3M's trading liquidity about 5 hours after its launch. As a result, W3M's price fell nearly 100%.

Detail Analysis

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W3M

Submit Incident Report

Date:

Status:

Count:

Contributor:

February 23, 2022

Verified

zerofriction.io

Loss Amount:

235,000

Recovered Amount:

Currency:

Dollars, BNB

KYC By:

Audit By:

None

Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

Key Indicators

Platform:

Type:

Category:

Method:

Binance Smart Chain

NFTs

Scams

Extended Method:

Rug Pull

Data Sources:

https://aliens.com/livenews/latest/the-developer-of-the-token-w3m-initiated-a-rug-pull-5-hours-after-issuance-sending-nearly-625-bnb-to-tornadocash

According to CoinDesk, on February 23, blockchain security company PeckShield tweeted that the developers of the BNB Chain (formerly BSC)-based Web3Memes (W3M) token have withdrawn nearly 625 of the token’s liquidity pool. BNB and transferred it to TornadoCash. At the time of writing, that amount is worth $235,000.

Blockchain data shows that the token was created early today and listed on BSC-based PancakeSwap shortly after. Over the following hours, more than 1,800 transactions appeared on W3M, with over 1,000 holders at this writing. However, anonymous developers withdrew W3M's trading liquidity about 5 hours after its launch. As a result, W3M's price fell nearly 100%.

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