QI Quadriga Initiative

Apr 2024 - Truflation Fake Token Rug Pull - $257k (Global)

"Decentralized Infrastructure For Real World Asset Metrics"

"RWAs are about to bring massive sums of money on-chain. This shift not only promises to enhance liquidity within digital markets but also aims to bridge the gap between TradFi assets and DeFi technology, enabling a more inclusive and versatile financial landscape."

"Precise and up-to-date information ensures that digital representations of real-world assets are accurate, trustworthy, and capable of fostering confidence among investors."

"In an era where skepticism towards official data and statistics is growing, the demand for transparent, decentralized, and verifiable data sources is more pressing than ever."

"Fake Truflation on ETH is suspected of a rug pull, with the deployer removing substantial liquidity, causing a 100% price decline."

"Be aware of this token! Team of this token has sold at least 72.924 ETH."

Further Analysis

The truflation project aims to aggregate data from around the world to create true feeds of data such as inflation, and has since expanded into a number of other metrics. The project launched a blockchain-based token in late March, and so did a copy-cat. The copy-cat token achieved liquidity of more than 52 ETH or $257k, which was subsequently drained.

How Could This Have Been Prevented?

More Cryptocurrency Exchange Hacks/Scams/Frauds

Monad Fake Token Rug Pull > > < < Oasis AI Fake Token Rug Pull

Sources/Further Reading

SlowMist Hacked - SlowMist Zone (Dec 31)
https://www.dextools.io/app/cn/ether/pair-explorer/0x372949764e43dab7da0c0462e955c6a044932149 (Dec 31)
Ethereum Transaction Hash (Txhash) Details | Etherscan (Dec 31)
@truflation Twitter (Dec 31)
@truflation Twitter (Dec 31)
TRUF Token FAQ: Powering Permissionless Access to Financial Data | Truflation (Dec 31)
TRUF Token x Impossible Finance Campaign: Empowering On-Chain Financial Data | Truflation (Dec 31)
The Impossible Finance IDO #23 — Truflation (Dec 31)
@truflation Twitter (Dec 31)
@truflation Twitter (Dec 31)
@truflation Twitter (Dec 31)
@truflation Twitter (Dec 31)
@truflation Twitter (Dec 31)
@truflation Twitter (Dec 31)
Democratizing Finance and Onchain Data Access | Truflation (Dec 31)
@ARiHBARi Twitter (Dec 31)
@JSimenhoff Twitter (Dec 31)
@JSimenhoff Twitter (Dec 31)
@truflation Twitter (Dec 31)
Anthony Scaramucci talks Truflation - YouTube (Dec 31)

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