Rug pulls: Let's do our part

Recently, there’s been some loud rug pull that are silent to everyone. I don’t mean It as an oxymoron but that’s the perfect way of describing what happened in the last few days. I got to know about the first mid-way into the fair launch but knew straight away it was a scam scheme. I felt bad for those who lost their money but blamed them for falling for such a blatant stealing scheme.

This bad idea came to mind - “I know it’s a scam plan but why not just make quit bucks ?”. Though I later didn’t get the token due to some reasons but after sharing what transpired on noisecash, someone gave me a reply that led to re-evaluation and thinking. She accused me of being a perpetrator of scams and I shouldn’t be proud to say things like that out loud. It hit me hard and I was ashamed for even having the thought of indulging in such activities in this first place.

Sometimes, being silent in the face of evil is the same as saying “Yes, I approve of this wrong thing”. As I said earlier, I wasn’t aware of the first scam scheme on time, I got to know about it after so many people bought the token. With the current trend of naming a token as a reflection of a known one e.g BabyEben, BabyLaw and co.. ., I thought the token called “MoonGame” was just another of such. But after going through the chats on the group and also checking for any details that might be of help in knowing what the token was all about, I realized it was a scam. Within a few hours after checking for its validity, the dev pulled the rug. I felt bad for the victims

The following day, I saw yet another group invites and I decided to join. Also, I went to the dexsceener, checked for new token pairs but saw none, “Maybe this is just the planning stage, in a few days it will launch”. I went back to the group and saw @PVMihalache 's questioning the dev. Apparently, the name of the token was stolen and the dev was impersonating the original one which is on other smart chains. He called the token OHM (Olympus token) and also, used the name “Zeus” after the original token. He kept on evading the questions and at some point started adding “lol” to each sentence he types. It felt weird and it was declared by PVM that it’s a scam.

The fake “Zeus” announced that a fair launch will start in 30 minutes. we all requested for the use case, whitepaper, site or CA but he refused to drop any. He continued with his “lol” prefix and I decided to leave the group but the temptation came in. I also, discovered that others in the group also know that it is a scam but greed and desire to make a quick buck won’t let everyone leave. “Okay, let’s play this game,” I said to myself.

I plan on buying the token immediately after launch and selling immediately my investment doubles. (note, this is something I’m not proud of) . He launched the token and the race began. After a few minutes, he swapped $200 and someone in the group was able to detect that and he started mocking everyone. Saying “You all know nothing about defi lol”. He added the $200 back and the race continued. I got a call that disrupted my network and that was the end for me. I left and went about other activities.

I came back online and got the news that he pulled the rug badly, but the victims have no one to blame other than themselves after all the warning signs were there and the actions of “Zeus” showed it was an obvious scam but the quest to make money made everyone go into it. It was later discovered that the same person (Dave) that created “MoonGame” was behind “OHM” too.

The long and short of the story is that knowing projects like this as scams but still indulging in them is bad for SmartBCH and only tarnishes the image of the community. We all need to do our part by reporting impersonators like that, warning people on the group and if they don’t listen-leave them. But getting involved in it can be likened to being a scammer too. I feel bad for even having the thought of joining, despite knowing it’s a scam. Hopefully, bad eggs like Dave alias Zeus will be fished out soon and the community will be washed clean.

Sometimes silence means agreement!.

Thanks for Reading!💚💚💚

Happy New year in advance🤗

Special thanks to @CoquiCoin , @elyz and @heartbeat1515 for the sponsorship renewal. Sorry it's coming late