BinanceBinance Smart ChainBSCCointelegraph.comRugpullscam

Binance Smart Chain’s TurtleDex rugpulls shortly after launch

The file storage project has all the markings of a rugpull, but will investors be able to get their funds back?
Turns out a turtle’s arms are plenty long enough to pull a rug. Yesterday, March 19 Binance Smart Chain (BSC) file storage project TurtleDex performed a “rugpull” exit scam — a colloquial term for when a project’s developers drain the liquidity or stored funds invested by the protocol. Coming off a March 15 presale round that raised 9000 BNB tokens worth nearly $2.5 million, the team drained those funds from trading pools on BSC-native decentralized exchanges Pancake Swap and Ape Swap, converted the liquidity to ETH, and sent the funds to Binance exchange wallets to be sold, according to TurtleDex team wallet transactions. Jet Fuel Finance, a yield vault protocol which had partnered with TurtleDex on a farming initiative, confirmed the rugpull on Twitter, saying they were “shocked” by the scam: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— Jet Fuel BSC ✈️ (@Jetfuelfinance) March 19, 2021
The TurtleDex website has gone dark and social channels have been deleted. Some investors pointed out that the project had previously been audited and no severe security issues were identified, prompting a renewed round of criticism about the efficacy of audits. #TurtleDex $TTDX s/contract …
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