Tag: rug pull alert sudorare nft marketplace shuts shop six hours launch 519 eth usd 850000 cryptocurrency

Technology

SudoRare NFT Marketplace Rug Pulled, Shut Shop Within Six Hours of Launch

In a typical ‘rug pull' scam, the creators of SudoRare NFT marketplace shut their operations after only six hours of launching the platform. Somewhere around $850,000 (roughly Rs. 68 lakh) were reeled-in before the Twitter handle of SudoRare also went defunct. These funds were stolen in the form of 519 Ether tokens. As per security research firm PechShield, the funds have already been distributed in three different crypto wallets with each receiving 173 ETH. The handlers of SudoRare have also allegedly stolen USD Coin and Looksrare tokens.While not much is known about the creators of SudoRare, PeckShield did trace one of the crypto wallet addresses which received part of the stolen ETH tokens registered with Kraken.As of yet, Kraken crypto exchange has not revealed any information on t...