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Detail Analysis

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Date:

Status:

Incident Count:

February 11, 2022

Verified

1

Contributor:

zerofriction.io

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KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

660,000

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Recovered Amount:

-

Currency:

Dollars, BNB

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Token

Assets

Scams

Extended Method:

Rug Pull

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BabyMusk is a tribute coin to Elon Musk. Its community has one main goal: to catch Elon’s attention such that he will join the project. The project raised about $2 million during its initial coin offering (ICO) in early February 2022. The initiative’s developers went to considerable measures to make the token look legitimate, saying that their goal was to “revolutionize the meme industry.” Until a couple of days back, Baby Musk Coin seemed to be the new big meme-coin to invest in. Like most other cryptos from this space, even BABYMUSK appeared to offer fancy gains. It also mingled well next to other prominent names like BabyDoge and Dogelon Mars. However, a couple of users were quick to bring to light the red flags. Pseudonymous user “NOSHIT” underlined the large-sized BABYMUSK holding by developers and the fact that users couldn’t sell. As such, NOSHIT labeled it a honeypot scheme. Certik indicated that 1571 BNB or 660k was moved to Tornado Cash.

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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.