AltcoinsBinance Smart ChainBitcoin.comChangpeng Zhao (CZ)decentralized exchangesDefi rug pullExit ScamLiquiditymeerkat financeTechrate1TurtledexTurtledex rug pull

Another Binance Smart Chain Project Turtledex Rug Pulls With Tokens Worth $2.5M Confirmed Stolen

The team behind Turtledex protocol, a Binance Smart Chain (BSC) project has reportedly rug pulled its investors shortly after raising 9,000 Binance tokens worth $2.5 million. Immediately following the confirmation of the theft, the value of the protocol’s native token TTDX, reportedly plunged to near zero. At the time of writing, the social media accounts associated with the protocol appear to have been deleted.
The Rug Pull
As one report explains, Turtledex, which touted itself as a decentralized storage platform for users, successfully duped users by claiming it could help them “keep data and preserve files without needing to keep them on their computer.” These claims initially helped the Turtledex team to raise funds via the pre-sale round “in just two hours on Monday 15th.”
Next, the team would follow up this successful fundraising round by “opening their liquidity pools on two major BSC Decentralized exchanges (DEXs): Pancakeswap and Apeswap.” The native tokens, TTDX, “were unlocked and opened to circulation on March 18th at 15:00 UTC and the price quickly pumped above its pre-sale value.”

However, just 24 hours later, a Twitter user named Defistalker warned TTDX holders of a possible exit scam after noticing the removal of liquidity on the two DEXs. In an initial tweet, which shares the screenshot of the alleged theft, Defistalker said:
Liquidity on both Apeswap and Pancakeswap has been removed 10hrs ago and swapped to ETH, split to 9 wallets, all sent to Binance.
Stopping Exit Scammers
Consequently, some users are now asking Binance to intervene by freezing …
Story continues on

Related posts
$100K$600 million in BTCanthony scaramuccibalance sheetsBitcoin (BTC)Bitcoin.comBTCElon MuskETFexchange traded fundFinanceScaramucciskybridge bitcoinSkybridge Bitcoin ETFskybridge capitalSkybridge ethereumSpaceXteslaTreasuriesWhite House Staffer

Scaramucci’s Skybridge Capital Registers With SEC to Launch a Bitcoin ETF

Anthony Scaramucci’s Skybridge Capital has filed an S-1 registration form with the Securities and Exchange Commission (SEC) for a bitcoin exchange-traded fund (ETF). The prospectus for the “First Trust Skybridge Bitcoin ETF Trust” notes that the ETF aims to list…

Phase 1 of IOST Integration with Japanese Medical Project Pracs is Successful

In an announcement made today, decentralized, high-throughput, enterprise-grade smart contracts platform IOST stated that Japan’s medical project Pracs had completed phase 1 of its IOST integration. Pracs’ Phase 1 Integration into IOST Completed Japanese health tech venture Pracs and IOST…
Bitcoinbitcoin currencybitcoin regulationBitcoin.comCrypto regulationdb bitcoinDeutsche Bankdeutsche bank bitcoindeutsche bank cryptodeutsche bank cryptocurrencyMarkets and Pricestinkerbell effect

Deutsche Bank: Bitcoin Now 3rd Largest Currency, Too Important to Ignore

Deutsche Bank has published a report stating that bitcoin is too important to ignore, noting that it is now the third-largest currency in terms of the total value in circulation. In addition, the bank says that governments and central banks…