SudoRare, the developers of the decentralized exchange of non-tradable tokens, implemented a scheme. carpet pulling. They withdrew assets, disabled the project website and deleted their social media accounts.

According to PeckShield, the damage was 519 ETH (~$815,000).

Assets in the LookRare token (LOOKS) and stablecoin USD Coin (USDC) were exchanged for ether via Uniswap.

The entire amount was distributed in equal amounts (173 ETH each) between the three wallets. Experts determined that one of the addresses belonged to a user of the Kraken exchange.

The incident occurred a few hours after the platform’s launch and caused a wave of comments. Some users recalled that the community discussed the risk of fraud by an anonymous team and expressed their concerns about it.

Recall that in early August, the Dragoma game project, based on the Polygon network, fell victim to such a scheme. Damage totaled approximately $3.5 million.

According to Chainalysis, carpet pull events accounted for more than a third of the total $7.7 billion worth of cryptocurrencies stolen from users in 2021.

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