E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
  • Need Help?

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

What Closing Costs Do Home Buyers Have?

February 25, 2023

What Is Realtek HD Audio Manager

February 2, 2023

A Basic Guide To Cell Tower Leasing

February 2, 2023
Facebook Twitter Instagram
E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
  • Need Help?
Facebook Twitter Instagram
E Amazings
You are at:Home»Crypto»Another Dogecoin Copycat Ends Up Being Rug Pulled as TeddyDoge Slumps 99%
Crypto

Another Dogecoin Copycat Ends Up Being Rug Pulled as TeddyDoge Slumps 99%

By July 25, 2022No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email

[ad_1]

The OG Dogecoin managed to vault into crypto stardom in 2021 along with its rival Shiba Inu, thanks to a push from Tesla chief Elon Musk. But the same cannot be said for many such copycats. One such is – TeddyDoge (TEDDY).

  • As per blockchain security firm, Peckshield, the project is a soft rug pull.
  • The deployer of the contract reportedly pumped and dumped the native token, TEDDY, resulting in a loss of 99.4% of its value.
  • The entity behind the latest rug pull managed to acquire nearly 10,000 BNB tokens (approx. $3 million) and $2 million worth of BUSD stablecoins.
  • Peckshield said that the assets are currently being transferred to cryptocurrency exchange – Binance.
  • It also detected that TeddyDoge could be related to Half Pizza, a Binance Smart Chain (BSC) platform that describes itself as a decentralized rewarding autonomous community (DRAC).
  • The memecoin is a DRAC network project, a public chain developed independently on Ethereum.
  • DRAC’s official Twitter account posted a tweet revealing that it has halted the cross-chain bridge.

“We temporarily closed the cross-chain bridge.”

  • Shortly thereafter, another crypto exchange BitMart announced suspending all TEDDY-related features citing technical upgrades.
  • According to DRAC, the team is now “actively discussing” the next step with BitMart to replace the new DRAC tokens with TEDDY tokens. Its tweet regarding the same read,

“We are actively discussing the next step with the exchange to replace the new DRAC tokens with TEDDY tokens, for which we are sorry.”

  • Squid Game (SQUID) was yet another memecoin inspired by the Netflix hit series “Squid Game,” which lost all its value in November last year in an apparent rug pull.
  • The devs behind the project reportedly fled with an estimated $3.38 million worth of funds.
SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.



[ad_2]

Source link

Related Posts

Report With an Eye on Mutual Settlements with China, Russia To Launch CBDC Early Next Year: Report

By September 28, 2022

China Cracks Down a $5.6 Billion Crypto Money-Laundering Scheme (Report)

By September 28, 2022

Binance Launches Training Program For Law Enforcement Agencies

By September 28, 2022

FTX US President Brett Harrison Steps Down

By September 27, 2022
Add A Comment

Comments are closed.

Our Picks

What Closing Costs Do Home Buyers Have?

By Corbin BowenFebruary 25, 2023

What Is Realtek HD Audio Manager

By Corbin BowenFebruary 2, 2023

A Basic Guide To Cell Tower Leasing

By Corbin BowenFebruary 2, 2023
Recent Posts
  • What Closing Costs Do Home Buyers Have? February 25, 2023
  • What Is Realtek HD Audio Manager February 2, 2023
  • A Basic Guide To Cell Tower Leasing February 2, 2023
  • Air Duct Repair 101: Everything You Need To Know February 2, 2023
  • Advantage LIC? How Budget Insurance Amendment Bill may benefit the PSU insurance giant January 5, 2023
  • The Flight Of The Dremel January 5, 2023
  • LIC offering multiple benefits on premium payment with co-branded credit cards with Axis Bank: Check features, offer January 5, 2023
Archives
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • September 2021
Facebook Twitter Instagram Pinterest TikTok
© 2022 E Amazings - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.