Crypto developer in a surprising turn of events, faces a scandal involving a $2 million rug pull scheme, revealing deceit, fraud, and gambling addiction. The incident raises questions about the industry’s reliability and integrity.
An intriguing farewell note was submitted by a developer, who apologized and blamed his online gambling problems for leaving a project in ruins and turning a $2 million valuation into $20,000 in a matter of minutes, according to a Reddit post.
On social media, some investors posted a screenshot of the developer’s statement. The developer mentioned his gambling issues in the post and stated that he had lost $300,000 playing at online casinos. The developer also committed to “make every effort to become a better person,” even though he could not promise that he would apologize or restart the project.
Jimmy Su, the chief security officer of Binance, recently stated how criminals are using the darknet to defraud cryptocurrency consumers. Su claims that the network of intelligence gatherers, data refiners, hackers, and money launderers among hackers is firmly established.
The rug pull infuriated the neighborhood residents, who expressed their outrage by wishing the developer bad luck and calling the action the worst birthday present and an odd way to end a rug pull. Regretting that the rug pull occurred on his birthday was trader Crypto Daddi.
Another recent rug pull was the Ponzi scam OneCoin. Ponzi scam OneCoin was a cryptocurrency cover. The fraud, which was introduced in 2014 by the self-described “cryptoqueen” Ruja Ignatova, drew millions of investors over the course of two to three years. The gorgeous Ruja persuaded customers in 175 countries to purchase bundles of educational resources and OneCoin tokens through eye-catching debuts and appealing advertising. She gave individuals the impression that they would become wealthy and that they were a vital part of something significant. Sadly, the “something big” ended up being a massive rug pull.