Scammers Rugpulls On Fake Memecoins, Run Away With 134 ETH 

Scammers Rugpulls On Fake Memecoins Run Away With 134 ETH

Amid a sharp uptrend in the cryptocurrency market, fraudsters and scammers have also become active. In the latest event, a scammer has rug-pulled on three different fake memecoins. 

According to PeckShield, three fake memecoins–MEME, MEMEPAD and TITANX–have dropped 100% at the same time and in the same manner, probably by the same entity.

The fake Memecoin (MEME) and both other tokens, MEMEPAD and TITANX, were created just a day before the rugpull. 

All three coins have now dropped 100% after developers swapped their tokens and drained liquidity pools on Uniswap.

Data from Etherscan shows that the swaps were executed at the same time, which combined drained 134 ETH, approximately $243k from liquidity pools.

Also Read: Cardano’s $SNEK Memecoin Surges with +56% in a Week

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