Apr 2024 - CondomSOL Rug Pull - $922k (Global)
"Risk Factors
Mutable metadata
Single holder ownership: 67%
Top 10 holders high ownership
High ownership
Low amount of LP Providers
Low Liquidity: $4.47"
"Solana memecoin $CONDOM ( @condomsol ) raised 4,965 $SOL worth $906K in presale and rugged before launch."
"CondomSOL on Solana has exited, and its Twitter account is no longer accessible. The wallet associated with CondomSOL raised 4,965 SOL, equivalent to approximately $922,000."
"On April 4, 2024, CondomSOL on Solana exit scammed, with wallets associated with CondomSOL raising 4965 SOL, approximately $920,000. Currently, its official Twitter account has been deleted."
"We're fed up with fraudsters on Twitter thinking they're untouchable. We're currently taking steps to alert all CEX and DEX exchange platforms to red flag the CONDOM wallet that still holds 4,965 SOL"
Further Analysis
CondomSOL appeared poised to be the next great success story. Instead, the project rug pulled and didn't even deliver the promised tokens to investors. While many people were upset, there doesn't appear to be much interest in doing anything about the situation. A project called Future even recommended that the community launch a meme token anyway, however this didn't appear to gain any traction.
How Could This Have Been Prevented?
More Cryptocurrency Exchange Hacks/Scams/Frauds
Wormhole Co-Founder Robinson Burkey Twitter Hacked > > < < Avolend Finance Rug Pull
Sources/Further Reading
SlowMist Hacked - SlowMist Zone (Dec 31)
CONDOM | Launching soon (Dec 31)
CONDOM | Launching soon (Dec 31)
https://old.reddit.com/r/CryptoCurrencyClassic/comments/1bvies6/solana_memecoin_condom_condomsol_raised_4965_sol/ (Dec 31)
CONDOMSOL is Scam Project | Don't Buy $CONDOM PRESALE #airdrop - YouTube (Dec 31)
https://old.reddit.com/r/SatoshiStreetBets/comments/1bviab8/solana_memecoin_condom_condomsol_raised_4965_sol/ (Dec 31)
Explore $CONDOM on Solana Tracker, the best place to find new Solana (meme) coins (Dec 31)
Transaction (Dec 31)
CONDOM | Launching soon (Dec 31)
Transaction (Dec 31)
The Rise of CondomSol: Unveiling the Risks in Meme Coin Market - YouTube (Dec 31)
$Condom – Telegram (Dec 31)
https://www.cryptopolitan.com/crypto-market-hit-by-rug-pull-as-scams-surge/ (Dec 31)
@WhaleInsider Twitter (Dec 31)
@liyuiins Twitter (Dec 31)
@NippleBNB Twitter (Dec 31)
@FutureSPL Twitter (Dec 31)
@dirty_digs Twitter (Dec 31)
@De_FiSecurity Twitter (Dec 31)
@ivan_ive87 Twitter (Dec 31)
@FUTURESPLINTERN Twitter (Dec 31)
@BLOCKCHAINALETS Twitter (Dec 31)
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