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PAID Crashes 70% In Minutes as Network Purportedly Exploited

PAID Network, one of the most popular Initial DEX Offerings (IDOs) that took place on Polkastarter’s platform a while ago and brought tremendous returns to private sale investors, is going through what seems as a massive attack.
PAID Network, one of the most popular and heavily promoted IDOs that brought massive returns to private sale investors, seems to have been exploited.
Multiple reports on social media point towards the exploit.
It appears that over 59 million PAID tokens were minted and sold through Uniswap.
This resulted in the price of the token taking a nosedive and decreasing by more than 80% in minutes.
PAID/USD. Source: DextoolsAt the time of this writing, the team hasn’t come up with an official statement.
Many in the cryptocurrency community speculate that this is a rug pull as the owner of the contract had the capability to mint new tokens.

$PAID got exploited, the person who minted the additional tokens still owns roughly 49M $ in tokens.
This is not a dip you want to buy.https://t.co/9gYLCGWaa9
— Bagsy (@imBagsy) March 5, 2021

Story continues on Crypto Potato

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