Jul 2024 - Base Dawgz Fake Token Rug Pull - $113k (Global)
"Designed for those who crave adventure and innovation, Base Dawgz is bringing you a unique multi-chain experience. At home on Base Chain, $Dawgz will also trade on ETH, SOL, BSC and AVAX. We are not just about pushing boundaries; it's about breaking them. We offer seamless interoperability across multiple blockchains, ensuring you can soar through the decentralized world without limits. Join us on this high-octane journey as we redefine what's possible. Come chase nirvana with Base Dawgz."
"The Rug Pull token has the same name as the legal token."
"32.85 ETH (about $113,000)"
"The Fake Base Dawgz on Ethereum is suspected of a rug pull, resulting in a loss of over $113,000."
Further Analysis
Base Dawgz is a memecoin "designed for those who crave adventure and innovation". On July 23rd, it was discovered by an organization called Paidun Monitoring that an Ethereum smart contract bearing the same name had managed to gain $113k in liquidity, which was successfully rug pulled. There is no indication that any affected users will recover any funds, and no information appears to be available on the original smart contract itself.
How Could This Have Been Prevented?
More Cryptocurrency Exchange Hacks/Scams/Frauds
Spectra Finance Routing Utility Command Exploit > > < < DeltaPrime Smart Contract Vulnerability
Sources/Further Reading
https://readwrite.com/base-dawgz-presale-concludes-last-opportunity-to-purchase-at-listing-price-before-dex-launch/ (Dec 31)
https://99bitcoins.com/news/pr-news/base-networks-base-dawgz-presale-ends-get-in-at-listing-price-before-dex-launch/ (Dec 31)
@basedawgz Twitter (Dec 31)
Base Dawgz Begins Final Presale Stage Ahead of Highly Anticipated DEX Listings (Dec 31)
Paidun: Rug Pull occurred due to fake DAWGZ tokens, resulting in a loss of 32.85 ETH (Dec 31)
@cryptoceannews Twitter (Dec 31)
Paidun: Fake DAWGZ tokens cause Rug Pull, resulting in a loss of 32.85 ETH (Dec 31)
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