rugpull что это такое
Организаторы проекта TurtleDex исчезли, выведя из его пулов ликвидности на децентрализованных биржах Pancake Swap и Ape Swap в сети Binance Smart Chain 9000 BNB (
Средства были конвертированы в Ethereum, разделены между 9 кошельками и отправлены на биржу Binance, уточнил пользователь Twitter под ником DeFi Stalker.
Все аккаунты TurtleDex в соцсетях удалены.
Сотрудничавшая с проектом платформа JetfuelFinance подтвердила факт мошенничества.
Attention — The Turtledex (#TTDX) team has exit scammed.
We are just as shocked as everyone to see this unfold.
Please see the tweet below from @DefiStalker and help us track down the funds sent to @binance #TTDX is being removed from Jetfuel. https://t.co/ZUjRmPbrs2 https://t.co/3WvsYSWATg
По словам журналиста Колина Ву, некоторые пользователи TurtleDex обратились к главе Binance Чанпэну Чжао с просьбой заблокировать украденные средства. По иронии, ранее команда проекта на вопрос членов сообщества, могут ли они скрыться с деньгами, ответила:
«Нет, потому что руки слишком коротки».
BSC’s popular project, Turtle.dex, rugpulled, taking about 9,000 BNB, website and telegram deleted. Some are converted into ETH to Binance, investors are urging Binance to freeze. To the question of rugpull, Turtle officially stated before: No, because hands are too short. pic.twitter.com/xqVmGShm9f
DeFi Stalker сообщил, что в феврале аудит смарт-контракта TurtleDex провело агентство TechRate и не обнаружило серьезных проблем.
«Какова цель аудита? Если разработчики могут запросто вывести ликвидность, правильно ли мы ставим вопросы?», — добавил пользователь.
TurtleDex позиционировал себя как децентрализованную платформу хранения данных и файлов для пользователей. 15 марта проект провел предварительную продажу токенов TTDX, за два часа собрав 9000 BNB.
Напомним, по сообщениям СМИ, в феврале экзит-скам совершили сразу четыреDeFi-проекта в сети Binance Smart Chain.
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How to Avoid Honeypots, Rug-pulls, and Other Scams PLUS our new and improved scam filter! Part 1
The world of cryptocurrency, DeFi, and decentralized exchanges (DEX) are unfortunately riddled with scams and tactics to swindle traders and investors out of their money.
Commonly these scams are referred to as Honeypots and Rugpulls.
The vast majority of these scams happen on either the Ethereum (Uniswap or SushiSwap) or the Binance Smart Chain (PancakeSwap).
In this article we’ll have a look at how these scams work and some tactics you can employ to avoid them.
Our main goal with this content is to help our community and ListingSpy users to avoid losing money. Education is a powerful tool, so let’s get into it and see how to avoid scams!
Table of contents
How the Scams Work
Rugpulls
When you buy a coin, it is usually attached to a Liquidity Pool.
A liquidity pool is a collection of funds which are locked in the contract and provide a “pool” for you to buy and sell coins from. Rather than waiting for someone to come along to match your buying or selling, the pools are used by the automatic market makers to allow fast and efficient trading.
What the scammers do is that they launch a new coin, attach a liquidity pool to it and wait for people to start buying coins. Once enough people have bought the coin, the scammer will pull the liquidity pool, run off with the money and leave you with a worthless coin.
You won’t find out until it’s too late. The rug has been pulled.
Honeypots
Are often less obvious to the untrained eye and therefore more difficult to detect, even for experienced crypto traders.
Experienced traders routinely fall victim to honeypots because they see a coin pumping and jump in without verifying everything first.
The scammers insert a piece of code into the contract which allows only their own wallets to withdraw from the coin/contract.
They launch the coin and people start buying. You see the coin pumping and think wow, this is amazing. It’s just going up and up. There’s little or no red candles on the chart. You will likely stay for a while until you think it’s enough and try to cash out. And that’s when you notice that you can’t, because the contract says nobody except specific wallets can cash out.
Your money is stuck forever and there is nothing you can do about it. The scammer can withdraw any time.
Note – some of these scams go on for days or weeks and people think they found a real gem of a coin that is going to the moon and will keep buying.
What You Can Do to Try and Avoid Scams
LEARN TO USE THE TOOLS
Beyond due diligence, there are tools to help you detect red flags and avoid common scams.
Etherscan and BscScan are two tools you can use to help you fight back against the scammers.
Here’s how they can be useful:
First, find the Token ID for your coin and enter it on the relevant blockchain scanner (BscScan/Etherscan).
On the next page, go to “Token Tracker”. You will see a tab that says “Holders”. There, you can see all the wallets holding tokens and the liquidity pools.
Token Sniffer
Another great resource is Token Sniffer. Enter the Token ID on the top right and look for the results of the “Automated Contract Audit”. If there are any alerts, stay away from the project.
The “No prior similar token contracts” is sometimes a false flag alert, because many projects use contract templates these days, and unique contract simply means it was written without using a template.
These custom contracts have additional risk of exploits though, because they were not thoroughly tested and can have unknown vulnerabilities.
Watch the Transactions
You can monitor transactions using Etherscan/BscScan, or can go to websites like PooCoin or DexTools, again enter the Token contract address, and examine the transaction list.
If you notice no wallets selling or only one or two wallets doing all the selling, stay away from it. It’s most likely a honeypot. If many wallets are selling, it’s probably safe and not a honeypot.
DO YOUR OWN DUE DILIGENCE / RESEARCH (aka DD / DYOR)
One of the best things you can do to avoid scams is to do proper due diligence.
What does that mean? It means looking at who created the token, inspecting the website, checking out the code, learning about the team, and so on.
It basically means do your research about the project before aping in.
This is what you should watch out for, some of the red flags are:
1. Scrutinize Their Website:
This should be fairly easy, if the website looks rushed and the development is subpar this is a red flag!
One trick is to check when the domain was registered for a website by heading over to whois.domaintools.com and type the domain name in.
If the domain was registered within 24 hours or less of the project launch you can be fairly sure it’s scam.
Scam projects often pop up like mushrooms, and generally within a day they’ve launched the following:
2. Check Their Social Media
Good projects will hire professional social media managers, writers, and other content creators.
The branding will be standardized and appealing.
The text will be clear and concise.
Generally, there will be links to good content, documentation, and informational articles about the projects as well.
Scam projects, on the other hand, will often fail to check any of these things.
3. Investigate Their Followers on Telegram and Twitter
Spotting bots and fake accounts is pretty easy.
The accounts are generally not very old, created within a week or maybe last few months.
They will have ridiculous handle names like “Ray12321dadafew”
All these same things generally apply to Telegram accounts as well
4. Large Wallet Holders:
Stay away from tokens where one or a few wallets hold most of the tokens.
5. Mint Function
A mint function allows the contract owner to create more tokens whenever they want!
Sometimes, the owner will mint himself a bunch of tokens and then sell them, tanking the price of the token and allowing him to run off with all the money.
Are mint functions always a bad thing?
No, not always, there are some use cases where they make sense and are needed.
A mint function is required, especially, when tokens are minted every block for rewards — think of yield farms on DEXs like Pancakeswap and Uniswap, rewards have to be minted from the function.
How to be safe when there is a mint function?
Always make sure there is a need for it.
Yield Farms and similar projects will have a need for a mint function, because farming requires this type of function in order to issue rewards.
NOTE- if you’re trading a token that is supposed to have a maximum supply but it has a “mint function” then it should raise alarm bells!
Slow RugPull
These are much harder to detect!
Typically the scammers create a perfectly legitimate looking coin with no other warning signs, but they distribute a large amount of coins across hundreds of wallets only they have access to.
For example, 20% of coins are distributed to 500 wallets of 0.04% each. As people start buying the coin and the price increases, they will slowly start dumping (selling) their coins in order to generate money. People will keep buying and they will keep dumping until all their wallets are empty.
These are super hard to detect, but the most reliable way to detect them is to use Etherscan or BscScan to check for many wallets with the same % amount of tokens.
Use ListingSpy’s New ‘Low Liquidity’ Filter
We continue to improve Scam Filter to make things even better for our users. So far it’s working well and is removing a huge amount of scam tokens.
These tokens are removed based upon low trading volume, transaction count, holders, and liquidity. This protects you from 90% of scams already!
The scam filter however is NOT perfect and many scams may still appear, so we always suggest you do your own research before considering any token.
NEW! Low Liquidity Filter
With the help of this filter you can quickly reduce the number of new tokens on PancakeSwap for you to analyze from
Contract Check Filter (coming soon!)
Next level improvement to the filter, where we scan the token contracts for various scammer tricks, is under testing now and will be released this month.
Wrap Up
The crypto world in a lot of ways is like the wild west; full of potential and amazing rewards but also somewhat lawless and riddled with scammers and potential threats.
Most new coins should be treated as buyer beware!
Although with some prudent due diligence and use of tools like ListingSpy, Token Sniffer and Etherscan/BscScan, you’ll be well on your way to avoid most of the scams out there.
If you are still using a Free version of ListingSpy, do consider upgrading to Standard, Premium or Exclusive to get access to more powerful features.
Don’t forget to check us out on Twitter for updates and promotions.
Feel free to join our community on Telegram to chat with us or other community members about hidden gem tokens.
What Are Crypto Rug Pulls?
02 April 2021 | 0 comments | Posted by Che Kohler in Money Talks
The birth of cryptocurrency and blockchain through the launch of Bitcoin has expanded into an entirely new sector complete with new jobs, jargon and much more. Keeping up with changes in the crypto market is near impossible as this decentralised world moves at breakneck speeds.
Naturally, when speed is the name of the game, things like security, transparency and risk management are overlooked, and we see breakages in the system.
These breakages can manifest in hacks to hard forks or, as we refer to it, «rug pulls».
What is a rug pull in crypto?
In plain English lexicon, to pull the rug out (from under someone) means to take away necessary support (from someone) suddenly. If we apply this adage into the context of crypto and Decentralised Finance (DeFi), having been rug pulled means to have, buy support or Decentralised Exchange (DEX) liquidity pool taken away from a market.
This sudden loss of liquidity results in a sell death spiral as other liquidity providers, holder and traders sell to salvage their holdings. Typically, it is a new form of «exit scamming» where someone will drain the DEX pool, leaving the token holders unable to trade.
Rug pulls are the pain of DEX’s
The success of Uniswap on Ethereum has seen the DEX model prove to something that can scale in a trustless and permissionless environment. The ability to trade without a central body validating listings authenticity and allowing anyone to list a token naturally attracts both good and bad actors to the platform.
Uniswap being the biggest of the DEX’s, naturally becomes the playground for these bad actors, but it’s not to say other DEX’s don’t have the same issues; they have less liquidity at stake, which is why Uniswap rug pulls tend to grab the most headlines.
As more liquidity pores into DEX’s, so too do DeFi tokens continue to flood the markets as developers are minting new coins and listing them on Uniswap every day to try and capture some of that capital flow.
While this might present an earning opportunity for some, the number of the so-called ‘rug pulls’ is also rising. Investors need to be extremely careful and selective regarding the tokens they put their money into and do proper research.
How rug pulls are made possible?
Uniswap is a protocol that allows buyers and sellers to swap ERC20 tokens without an exchange or order book. It uses an algorithmic equation that determines the swap rate automatically based on the balances of both tokens, as well as the actual demand for this swapping pair.
Since anyone can spin up a token and smart contract on Ethereum and list it on Uniswap, some developers have come up with rug pull operations. The con begins with minting new tokens, creating Telegram groups to get the buzz going, followed by a Uniswap listing and injecting liquidity.
At this point, the original malicious liquidity provider would wait for people to swap their ETH for the newly minted coin, after which the token’s creators would drain the liquidity pool, leaving holders with nothing but a worthless coin.
We’ve seen other cons mint tokens of similar names to popular projects, too, then listing these on other DEX’s to try and capture investors funds before pulling the rug.
Thousands if not millions lost already
New coins are being listed on Uniswap and other DEX’s every single day. And, to an extent, that’s to be expected. Unfamiliar retail investors with no previous experience in the field are happy to spend their ETH on coins that are going to pull off a «10x» increase in 24 hours.
These new investors are normally suckered in via social media or chat groups, thinking they found the investment of a lifetime.
Crypto Twitter sees major accounts talking about new coins regularly. A recent example comes from a coin mimicking Ampleforth (AMPL), called TRUAMPL (TMPL). Someone was shilling «TRUAMPLE» yesterday, and 3 hours later, the developers pulled the rug, stealing 1800 ETH.
And that’s far from the only recent example, as rug pulls off the kind take place regularly.
How to stay away from crypto rug pulls?
We can’t stress this enough, but before you swap your ETH or other assets for a so-called next «Uniswap gem,» make sure to check whether or not the liquidity is locked.
The most common means that reputable teams use to lock their pooled liquidity and gain additional user confidence and trust are through Unicrypt. It’s also very easy to verify whether or not liquidity for a particular pair is locked and the date that it is locked to.
You should also make research on what the coin funds are used for, who the team behind the coins are and the history of trades with this coin.
Contact us
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Recommended reading
If you enjoyed this post and have a little extra time to dive deeper down the rabbit hole, why not check out the following posts on cryptocurrency and blockchain.
Disclaimer: This article should not be taken as, and is not intended to provide any investment advice and is for educational purposes only. As of the time posting the writers may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency as all investments contain risk.
Что такое Rug Pull и как минимизировать риски?
Нет ничего более пугающего для любого инвестора, чем финансовая афера, особенно та, которая сводит на нет все его вложения в проект. Rug Pull, или мошенничество с ковриком – одна из таких пугающих афер, хотя она не совсем соответствует масштабам массового финансового кризиса, который отбрасывает целые экономики на несколько лет назад. Рассмотрим, что это такое, как оно происходит, и есть ли способ уменьшить восприимчивость платформ к нему?
Что такое Rug Pull?
Rug Pull, или дергание коврика – это разновидность мошенничества, в основном в рамках экосистемы децентрализованных финансов. Это злонамеренный маневр, при котором разработчики криптовалюты отказываются от проекта, уходя со средствами инвесторов.
Разработчики могут сделать это, сначала агрессивно рекламируя проект, и вложив в него огромные средства, чтобы повысить его привлекательность. Инвесторы, которые теперь считают проект жизнеспособным и прибыльным, в конечном итоге вкладывают огромные средства. Обычно они привлекают инвестора-кита, чьи действия по перемещению большой ликвидности в проект служат для привлечения еще большего числа инвесторов.
Силы спроса и предложения со временем естественным образом подталкивают цены вверх. И это все, чего ждали разработчики и кит все это время. Как только цены достигают своих предпочтительных целей, они выходят из рынка, забирая всю доступную ликвидность. Это действие вызывает огромные рыночные потрясения, которые приводят к падению цен, значительно ниже того, что вкладывают в него инвесторы, а иногда и до нуля.
Хотя Rug Pulls теоретически может произойти с любым проектом, будь то в сфере криптовалюты или даже в традиционных финансах, некоторые проекты особо уязвимы. К ним относятся небольшие новые проекты децентрализованной биржи (DEX). Обусловлено это тем, что децентрализованные биржи не имеют аудита листинга, как их аналоги централизованной биржи; любой может разместить токены в любое время. Также любой может довольно быстро и легко создать токен на таких блокчейнах, как Ethereum, благодаря их природе с открытым исходным кодом.
Такие биржи обычно имеют одни из лучших результатов, а также имеют неясный протокол. Таким образом, они соединят эти токены с довольно распространенными криптовалютами, такими как BTC или ETH, чтобы привлечь инвесторов, прежде чем начать мошенничество.
Как снизить восприимчивость к DEX от Rug Pull?
Чтобы их избежать, нужна бдительность со стороны инвесторов. Для начала следует проверить ликвидность пула и узнать цену токенов в пуле. Большинство законных DEX обычно имеют алгоритмы, которые определяют уровни цен в соответствии с доступным балансом токенов. Но этого недостаточно, поскольку на ценообразование могут влиять и другие факторы. Также рекомендуется избегать проектов, цены на которые внезапно взлетят за несколько часов без реальных причинных действий, таких как обновления. В большинстве случаев законный DEX блокирует ликвидность пула на определенные периоды.
Уязвимы не только децентрализованные биржи. Целые цепочки блоков также могут быть потенциальными жертвами. Существует около 5 000 различных альткоинов, большинство из которых очень маленькие и новые. Обычно альткоины выпускаются при поддержке инноваций или концепций, чтобы отобрать кусок пирога криптовалютного рынка. В противном случае они запускаются с хорошим сильным сценарием использования, либо в определенной географической зоне деятельности, либо для привлечения определенной клиентуры. Цель по-прежнему заключается в увеличении доли рынка.
Однако, если новый блокчейн и криптовалюта запускаются без каких-либо присущих инновационных функций или целевого рынка, это весьма сомнительно. Часто в блокчейне будет отсутствовать протокол с открытым исходным кодом. Там, где можно получить доступ к данным о блокчейне, несколько кошельков, обычно принадлежащих разработчикам, контролируют значительный объем ликвидности.
Как снизить восприимчивость блокчейнов с вытягиванием ковра?
Есть несколько функций, на которые стоит обратить внимание, чтобы избежать таких потенциальных блокчейнов. Во-первых, следует избегать небольших новых монет, цена которых взлетает за несколько часов или за день без значительных изменений в основной цепочке блоков.
Также разумно попытаться избежать блокчейна, который, не имеет четкой траектории проникновения на рынок, кроме как полагаться на инвестора-кита. Этого следует избегать, если тот же блокчейн также не имеет инновационных функций, но по-прежнему имеет значительный прирост цен. Еще хуже, когда разработчики и пара китов держат большую часть ликвидности в монете.
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What Are Liquidity Siphon Rugpulls on Binance Smart Chain?
The never-ending weeks of crypto continue to become one, having upwards of three rug-pulls on the Binance Smart Chain (BSC), this week. On top of the 2,000,000 USD PopcornSwap Rug-pull, two other De-Fi projects, Zap Finance and Tin Finance, have run off with user funds. This article should be a testament to the speculative nature of crypto markets and the inherent smart contract risk that underlies all De-Fi protocols.
What Was Zap Finance?
Zap Finance displayed itself as a BSC-based De-Fi protocol, ultimately stealing custody of users’ LP tokens. Zap Finance marketed itself as a “De-Fi” lending and trading platform that aimed at a fair distribution through liquidity mining. This token promised aspects of frictionless yield generation and DEX AMM technology, which was all created piggy-backing off of other De-Fi protocols. The team began its launch on 1/28/2021, marketing the project’s fair distribution and the inception of liquidity rewards, which were all a sham.
This Rug-Pull method is one of the most commonly seen on the BSC, where the smart contract receives permission for unlimited spending of LP tokens. Nearly hours after opening the liquidity pools, the team swiped all liquidity and swapped the funds for BNB and BUSD. The following transaction displays the swap done using community LP tokens for BUSD and BNB.
Another transaction followed this one, in total the following “fraudulent” transactions were made:
Tx 2: 307 BNB ($13,776)
Tin Finance Rugpull
Here are the subsequent transactions of the Tin Finance rug-pull:
As previously stated when covering the PopcornSwap Rugpull— this must serve as a fair warning of the high-risk nature of De-Fi projects. While smart-contracts give developers the tool to create robust protocols, innovating traditional financial services, there are unfortunately inherent risks. These can be defined as smart contract risks; while this code allows users to develop trustless and decentralized protocols, they are not perfect. Malicious developers can leave loopholes in code to siphon users’ money. This has been the case for the latest rug-pulls on the BSC, where malicious developers have siphoned over 2,000,000 USD.В
In other instances, developers may not recognize a critical error in their code. This is unavoidable as nothing is ever perfect, which was the case in the Harvest Finance hack. Unnoticed structural integrity in a smart contract can be easily exploited by malicious users who find vulnerabilities in the code and ultimately steal users’ funds.
Overall, smart contract risk is a prevalent issue in the De-Fi space on both the Ethereum Network and the Binance Smart Chain. At the same time, these are not insanely common occurrences, but they ever too frequent. We have published a few guides on the BSCNews website, authored by The Ape, which help users safeguard against these instances:
Unfortunately, in the current De-Fi landscape, smart contract risks are very prevalent and should always be considered. As the space continues to mature, we can expect to see better audits, more educational awareness, and a general increase in safety. These tools are quickly developing with a large amount of insurance and audit protocols launching to help safeguard and protect users from these occurrences.
Overall it is vital to proceed with caution when purchasing highly speculative tokens. None of our articles are advice at the end of the day, and all financial decisions should be made on your behalf or from a professional financial advisor.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.