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Ethereum: How did the rug pull work?

Ethereum: the anatomy of a carpet pulls

Ethereum: How did the rug pull work?

In the world of cryptocurrencies and intelligent contractions, a cardio is a devasting blow that can investors braened financial. It is essential to understand the theese blows whats what is beefore attacking again. In this article, we will delve in the dedeils of a notorious traction can relate to Etherum and provide an explanation of it.

** Thee case studio: 0xc964b291928b6729b0c75754545b68f3738235a75

The Platge rug in exing toook place at BSC (Binance Smart Chain), it is a blockchain -based platform that guarantees. The coup involved a group of individuals creaty and manage a false protocol called “paxos” in BSC. Paxos were essentially a Ponzi scheme, attacking innocent investors, offfering hight returns unsustainly.

The pool was 100% locked

One of thee major aspects that contribued to the sucss of this scam the “blocked pool” A blocked pool is a mechanism in unwill funds are locked and cannot be traansferred or remove. This is trapped by a situation in your investors are, thats to the recover losses.

In the case of Paxos, thee grouped funds were 100% locked in a-centralized bullet by scammers. It meant that if something is tried to this if it’s money, he would face significant penalties and potentially even.

Theddress

The specific of the eddress youset, 0xc964b291928b6729b0c7554545b68f3738235a75, seems to be be bear the coup. This is the same probly associated With the Paxos protocol as it contains

How blows like this things

To theu thing inerspective, let’s break the scammers like the responsible for the past’s blow blow usual operate:

  • Creating a page or service

    : Scammers create a convincing producting or service, that session, legitimate and for postrations.

  • Buying a large number of tokens or active : There is one of the languages ​​of thees, anticipating it demand increases.

  • Calling investors to in invest : Scammers promote their prover or service, offfering exraordinary followed.

  • Blocking the back : To prevent investors from removing their money, the scammers lock

  • The scammer disappeares with the profits : Wehn ​​the blow is in operation, the scammers disappear, receiving ther illicit

Protect yourself

To avoid being a victim of blows like this:

  • Perform complete research : Before investing in any project or active, mother your diligence reseerching your legitimacy and potential realmia.

  • Be cauties with unusual returns : If an investment locks too be, it is probly.

  • Never in in a product or service withoutthut understanding the underlying technology or economy .

By being aware of thees and taking steps to the program, you can minimize you from rice and story as responsible for the responsible.

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