Crypto scam
The rug pull that funded a tall tale
Published
4 months agoon
By
adminCan a scam have a surprising motive? This crypto story will leave you in disbelief.
One of the funniest things about crypto is how people and companies have tried to make sense of it. There’s been a lot of trial and error, and some of those errors are just too funny not to share.
So, get ready to laugh as we dive into some of the funniest, most bizarre, and downright entertaining moments in crypto history.
The short king’s tall tale
The crypto world is no stranger to bizarre events and wild swings, but meme coins take this unpredictability to another level.
However, with great excitement comes great risk, particularly the dreaded rug pull. This scam, where developers vanish with all the invested funds, is a common hazard in the meme coin world.
One recent story involves a meme coin that had garnered quite a following. Investors were excited, the community was buzzing, and everything seemed to be going well — until the developer decided to pull the plug.
But this wasn’t your typical exit scam. The developer didn’t disappear into the ether out of greed or fear; he did it for height-lengthening surgery.
Yes, you heard that right. In a move that left the crypto community both shocked and amused, the developer posted a farewell message explaining his decision.
Screenshots from Telegram chats quickly made the rounds, showcasing the developer’s final words to his community. He candidly shared his struggles with self-esteem and his desire to change his life through surgery.
He confessed that he had struggled with his height for years and couldn’t bear being a “short king” any longer. The funds from the rug pull, he explained, would allow him to undergo surgery to add a few precious inches to his stature.
As the news spread, reactions poured in from all corners of the internet. On X (formerly Twitter), one user humorously dubbed it “rugging with honor,” praising the developer’s unexpected honesty.
Another user chimed in, joking that we’ve reached a point where even rug pulls can be seen as acts of integrity.
When stablecoins and boomer logic collide
This is a story from Reddit about a user who invested his dad’s money in crypto and ended up with a hilarious tale to tell.
It all started when the user’s dad, knowing nothing about crypto but trusting his son’s knowledge, handed over some money to invest. The dad understood the risks and the volatility but believed in his son’s abilities.
The user, being cautious, decided to keep a good portion of the investment in USDT, a stablecoin designed to maintain a steady value.
To keep his dad informed, the user downloaded a portfolio app on his dad’s phone so he could see how his investment was doing. Then came the fateful afternoon.
The user was in an important meeting when his work phone started buzzing repeatedly. Worried that something was wrong, he answered it quickly.
On the other end, his dad’s voice was full of concern and curiosity. “Hey,” he said, “I’ve been tracking this coin USDT you bought, and it’s not doing much. It’s not fluctuating at all, but I’m really expecting it to rise soon. What do you think?”
The user couldn’t help but laugh. His dad was genuinely worried about the stablecoin not moving, expecting it to behave like the volatile cryptos he had heard about.
After explaining that USDT is supposed to stay stable and not fluctuate, they both had a good laugh about the misunderstanding.
When crypto newbies confuse security with the next big opportunity
The crypto world is a magnet for all sorts of characters, from disciplined investors to absolute beginners looking for a quick fortune. And, sometimes, these newcomers can turn even the simplest concepts into comedic gold.
This story begins with a tweet from Ambroid, a seasoned crypto trader. In January 2018, he tweeted, “If you don’t have 2FA on your exchange accounts just f••king unfollow me aight?”
For those in the know, 2FA, or two-factor authentication, is a crucial security measure that adds an extra layer of protection to online accounts. But for some crypto novices, the term 2FA sparked a whole different kind of curiosity.
Enter one user, who replied, “Is 2FA the next XRP??” XRP, or Ripple, was a well-known cryptocurrency at the time, and Mike’s question suggested he thought 2FA was another hot investment opportunity.
Hot on his heels, another user chimed in with, “Where can I buy 2FA? 🙂 Coinmarketcap does not list it.”
The crypto community was left in stitches, unsure whether these replies were genuine questions from clueless newbies or clever trolls having a laugh.
When a couple’s crypto dreams turned into a nuisance
This story from the BitcoinTalk forum in 2018 is a perfect example of how a lack of knowledge can lead to unexpected situations.
It all started with a middle-aged couple who decided to dive into the crypto world. They had heard all the buzz about crypto and wanted to get in on the action.
Excitedly, they bought what they believed to be 1 BTC for $1,000. Overjoyed with their savvy investment, they reached out to a friend for advice on how to sell their newly acquired Bitcoin.
Their friend, well-versed in crypto-trading, sent them links to various articles and blog posts explaining the process of buying and selling Bitcoin.
Confident that they could handle it, the couple set out to sell their Bitcoin. But soon, they were back in touch with their friend, frustrated and confused. They simply couldn’t figure out how to sell their Bitcoin.
Sensing that something was off, their friend decided to visit them and help out in person. When he arrived, the couple proudly showed him their Bitcoin. But instead of a digital wallet or a QR code, they presented him with a plastic coin emblazoned with the Bitcoin symbol.
The friend was stunned, trying to suppress his emotions. The couple had bought a physical novelty item, not the digital currency they thought they owned. It was a plastic coin, a souvenir, utterly worthless in the crypto market. They had been scammed but in the most comical way possible.
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Crypto scam
Crypto traders doxx 13 year-old-boy who rugged two pump.fun tokens
Published
2 days agoon
November 20, 2024By
adminA 13-year-old boy got doxxed by crypto traders after pulling the rug on a pump.fun token he named Gen Z Quant. Traders doxxed his whole family and turned them into pump.fun tokens.
A 13-year-old boy has been caught in the middle of one of the most random rug-pulls the crypto community has ever witnessed. On Nov. 20, the unnamed boy launched a token on pump.fun under the ticker QUANT and watched as the price go up by 260% mere minutes after launching.
Not even an hour later, the boy dumps all his QUANT tokens, effectively pulling the rug from under traders who had bought the token minutes before. The boy made a profit of $30,000 by inflating the price and selling all his tokens.
As if that was not enough, he went online and flipped the middle finger at the traders who had been burned by QUANT’s rug-pull. He then went on to do the same thing by launching another token of the same name, which he later dumped for another $12,000 in profit.
Not long after, more experienced traders took over and brought the token’s market cap up to $70 million. The Gen Z Quant token he launched as an elaborate troll is currently trading at $0.05571 according to DEX Screener. It has soared to nearly 50% in the past six hours but is gradually going down hill by 13% in the past hour.
Although the boy has managed to turn his initial $30,000 token into a $2.4 million token, the crypto community was not going to let his misdemeanor slide.
Traders began doxxing the boy’s family and locating his school, tracking their social media accounts and complaining about the funds they lost thanks to the boy’s rug pull. Soon enough, developers began launching new pump.fun tokens named after the boy’s family members with their profile pictures revealed to accompany them.
Pump.fun tokens with the ticker QUANT DAD, QUANT SIS and QUANT MOM have already been circulating the markets, as well as tokens accompanied by a picture of the boy’s whole family and their pet dog with the ticker CABAL.
“Kid put his bloodline on the line,” one user pointed out.
“Then the community cto’d it to $135 million. He could’ve had 1.2 million. Then they doxxed his name, address and sschool. The community is roothless,” said a user on X.
One trader dubbed the boy “the future of finance,” while another reminded the community that this boy represents a messed up generation that has been “optimized to do that to people.”
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Crypto scam
Scammers Decided Not to Operate in TON. Is this good?
Published
1 month agoon
October 23, 2024By
adminCrypto scammers using malware to steal digital assets refused to attack TON users. However, things are not so clear-cut.
Scam Sniffer experts noted that the operators of a drainer popular among scammers rejected the TON network.
In a message published in an unspecified Telegram channel, the drainer creators announced its closure in the TON ecosystem. The main reason is the lack of crypto whales:
The malicious application’s developers are now moving to the Bitcoin blockchain, which will probably create many more opportunities for scammers to rob.
“What’s next? If you enjoyed draining on the TON network you will definitely live draining Bitcoins.”
One of the main reasons for the lack of whales is the vast number of airdrops on TON. They make fraud not the most profitable way to earn money: phishing schemes on The Open Network bring little profit, reducing scammers’ interest.
However, SlowMist founder Yu Xian said that such an assessment of whale activity in TON may need to be more complex. In his opinion, the drainer team may need to pay more attention to the potential of the TON blockchain.
“A phishing group on TON is ready to shut down, arguing that they believe TON has no whale players and is a small community. They have already turned to the Bitcoin ecosystem… Too realistic. Or maybe this gang isn’t smart enough.”
Yu Xian, SlowMist founder
How the TON blockchain became a new haven for scammers
TON has become one of the most successful stories of 2024, with the value of its token growing by more than 100% since the beginning of the year. In addition, integrating TON with the Telegram messenger, which has more than 900 million users, strengthened its position as a potential residence for the widespread distribution of cryptocurrency.
Scammers’ activity in TON arose against the backdrop of the rapid growth of the blockchain. Due to increased interest and investment in TON, fraudulent activity has gained momentum since at least November 2023.
The interest is mainly driven by the increasing popularity of mini-apps. They successfully exploited the popularity of projects such as Notcoin and Hamster Kombat. Typically, the attackers used the popularity of tap-to-earn games.
For example, Kaspersky Lab noted that scammers offered to earn Toncoin (TON) using bots and referral links. To make it easier to deceive users, the scammers recorded a video with instructions, created text manuals, and provided them with many explanatory screenshots.
Tonkeeper explained that the scammers rely on current trends in the ecosystem. For example, they created a token against the backdrop of the excitement caused by the launch of Hamster Kombat. Therefore, the names and tickers of fake tokens are often consonant with the names of popular projects.
“Usually, scammers create tokens before the official listing of the real coin. Check information about the token launch in official sources.”
Tonkeeper team
Experts from BlockAid also noted that attackers used leak tools previously used on the Ethereum and Solana platforms. In September, more than 300 malicious decentralized applications (dapps) were launched on TON, highlighting the growing threats.
What is the most popular blockchain for fraud?
Despite the growing popularity of TON, the blockchain has yet to boast of popularity among fraudsters, according to data from the REKT Database.
Thus, Ethereum became the leader in phishing attacks last year, suffering losses of over $65 million, 91% of the total loss. Arbitrum also suffered losses of $5.2 million, while Bitcoin lost $768,000.
In terms of exploits, Ethereum was also the most affected blockchain in this category, with losses of $482.7 million, while Binance was the most vulnerable to exit scams, with a loss of $74.5 million.
Regarding attackers’ move to the Bitcoin blockchain, CertiK, another well-known company in the blockchain security field, emphasized that scammers are becoming increasingly interested in Bitcoin due to its high transaction volumes, large user base, and significant total value locked (TVL).
Phishing attacks on Bitcoin have increased significantly in recent months. One of the most notable incidents was the attack on a Bitcoin whale that resulted in $238 million in losses, further highlighting the growing risks in this area.
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Crypto scam
Andrew Tate is Poison — Crypto Must Stand Up for Coffeezilla
Published
1 month agoon
October 22, 2024By
adminAndrew Tate’s response to Coffeezilla shows he’s thin-skinned and doesn’t care about the people who have invested in his tokens.
On-chain sleuth Coffeezilla has become a thorn in the side of high-profile influencers shilling coins to their millions of fans.
One of his best-known scalps is Logan Paul, who was ripped to shreds over his embattled and now-abandoned project CryptoZoo.
Coffeezilla’s also gone toe-to-toe with the likes of Sam Bankman-Fried as he vies to uncover scams to his 3.77 million subscribers on YouTube.
But now, the investigator is facing an almighty backlash about a deep dive that hasn’t even been released yet — and it relates to a number of coins that have been endorsed by Andrew Tate.
On Wednesday, Coffeezilla shared a DM that he had sent to Tate, asking whether he had been paid to promote cryptocurrencies, including ROOST and DADDY.
The message also pointed out that this is completely at odds with videos that Tate had released on X earlier this year, where he was topless and appeared to have substantially more hair.
Coffeezilla is following a crucial journalistic principle known as the “right of reply.” If you’re going to make allegations against someone, they must have the ability to respond before publication.
But instead of answering the legitimate questions put forward — which would be of interest to his many acolytes — Tate chose to go down the homophobic route.
By the looks of things, this has now unleashed a huge can of worms. Coffeezilla shared a screenshot that shows how his inbox has been bombarded with slurs.
Why? Because Tate reposted an anonymous account that exposed Coffeezilla’s email address, with the misogynist telling his followers: “Email him and call him gay.”
Undeterred, the investigator has insisted that he still wants a reply to his questions — and it’s likely that, if the clock runs out, Coffeezilla’s video will go live anyway without a comment.
The YouTuber also posted a comical mash-up that showed Tate chomping on a cigar because it looks cool, declaring that he respected Coffeezilla, cutting to another clip where he says:
“Coffeezilla is a b****. I don’t give a f*** about your video, I don’t respect your journalism.”
Given how wide-eyed Tate is as he jabs his finger toward the camera, you could suggest that all of this scrutiny is bothering the sham entrepreneur more than he lets on.
What is Coffeezilla investigating?
Coffeezilla, who married his high school girlfriend in 2017, has so far remained tight-lipped about the nature of the allegations against Andrew Tate and his brother Tristan.
But it seems a core part of the focus in his upcoming investigation will surround the $DADDY token, which has fallen precipitously in value since launch and has never recovered.
An all-time high of $0.2925 was set in mid-June when CoinMarketCap started tracking the altcoin — and at the time of writing, it’s down by more than 48%.
Tate’s full rebuttal video is something of a parody — honestly, some of the lines in there are pure comedy, especially how they are delivered. He tells Coffeezilla:
“I guarantee I drink more coffee than you — meaning you’re a fraud to begin with. You’re doing this little breakdown, this investigation, you just emailed me in a homosexual tone.”
To be honest, I don’t even know where to start with this. You can’t have “Coffee” in your handle unless you prove you’ve got a higher caffeine tolerance than Andrew Tate? Daring to scrutinize a man who has more legal troubles than Lamborghinis reveals his sexual preference?
Even before knowing the exact nature of Coffeezilla’s investigation, we have an insight into how thin-skilled Andrew Tate really is — and ultimately, how little he cares for his community, as well as those who have invested in his tokens.
Tate’s toxic masculinity has preyed on the insecurities of disenfranchised young men around the world while his foray into crypto has dived into their wallets — creating a false illusion that they, too, will experience extreme wealth one day.
When you think about it, Tate’s branding and messaging are reminiscent of an era that most of the crypto world has been trying to move away from, when the ICO boom of 2017 was full of wild excesses along with never-ending images of fast cars and bundles of cash.
In this battle, the crypto community needs to rally behind Coffeezilla — a man who has taken great risks to expose bad actors in the space and stand up for those who have lost their life savings to some of the industry’s most audacious scams. He, among others, serves as crypto’s immune system, with every investigation slowly chiseling away at the sector’s “Wild West” image and deterring opportunistic thieves planning to swindle unsuspecting victims.
The crypto community needs to distance itself from narcissists like Tate, who use homophobia as a weapon to deflect against their own shortcomings. Coffeezilla’s sexual orientation has zero relevance to the work he performs, and it’s shameful to think otherwise. Digital assets won’t ever achieve mass adoption if the influencers within this space denigrate innocent people who are doing nothing wrong.
And last but not least, the crypto community needs to realize that Andrew Tate and his coins represent everything that this innovative sector is not: hateful, harmful and dishonest. Engaging with him only drags down the rest of the industry.
Crypto is all about the future. Tate’s worldview belongs to the past.
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