What happened
Anti-scam vigilance War on Rugs, a self-described collection of smart contract auditors and blockchain developers, offered itself as a resource for verifying the credentials of a DeFi project, warning of projects it deemed insecure.
Later, War or Rugs created their own token - Fairmoon, which is the clone of the Safemoon. After the token launch, some insider wallets bought FAIRMOON before War on Rugs audit on some over $40k, which later were dumped and brought $1,800,00 of profit:
https://bscscan.com/token/0xfe75cD11…06cef6?a=0x485d2f76…d0373c
To calm down the community, the project announced migration to a new token. However, Shappy aka WarOnRugs completed his 2nd exit scam and again ran away with at least 1,170 BNB ($500,000 at this point). The total amount by which the community was defrauded thus amounts to at least $2,300,000.
The transaction of the second rug pull:
https://bscscan.com/tx/0xef7cff7b…4fccc3
Case & protocol details
Evidence & learning
Sources and on-chain records
- report Report decrypt.co
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