Rugpull
148,806 views
50 Discussing
Hot
Latest
Man Dies by Suicide After Conviction for NFT 'Rug Pull,' Says Family
A 21-year-old man allegedly took his own life while awaiting sentencing for his involvement in an NFT scam known as a "Rug Pull."
NFT Scam and Conviction
Berman Jerry Nowlin, accused of fraud and money laundering, reportedly died by suicide. In November 2024, Nowlin was found guilty of participating in an NFT scheme that defrauded investors of $400,000. Together with 25-year-old Devin Alan Rhoden, he successfully launched two NFT collections, "Undead Apes" and "Undead Lady Apes," before abruptly canceling a third, "Undead Tombstone."
According to the U.S. Department of Justice, the duo attracted investors with false claims, including fabricated partnerships with prominent companies and promises of benefits for NFT holders. After collecting payments, the team deleted their Discord and Twitter accounts, a move classified as a classic "Rug Pull."
Impact on Family and Defense
Nowlin's family revealed that he fell into a deep depression following his conviction. His mother claimed he was an unwitting participant in the scheme and placed the blame on Rhoden.
"In his eyes, I don’t think he believed he did anything wrong," said his brother, Daniel Barker. "My brother was just a young, naive kid who was taken advantage of."
According to Nowlin's lawyer, J. Jervis Wise, Nowlin was merely a technical developer for the project, while Rhoden handled the marketing. "He had no knowledge of the fraudulent plans," Wise stated.
Evidence of Money Laundering
Despite the defense, the Department of Justice presented evidence of Nowlin’s direct involvement. Investigations revealed that he laundered money using "chain-hopping" and illegal cryptocurrency mixers to obscure the movement of funds. These funds were traced directly to his personal bank account.
A Tragic End
Nowlin faced up to five years in federal prison, with sentencing scheduled for January 2025. However, on December 21, 2024, he was found dead at his home in Alabama. The cause of death remains officially unclear, but his family stated it was suicide.
This tragic case highlights the immense pressure and consequences faced by young individuals navigating the challenges of the digital world.
#nft , #Rugpull , #cybercrime , #blockchain , #MoneyLaundering
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
NFT Scam and Conviction
Berman Jerry Nowlin, accused of fraud and money laundering, reportedly died by suicide. In November 2024, Nowlin was found guilty of participating in an NFT scheme that defrauded investors of $400,000. Together with 25-year-old Devin Alan Rhoden, he successfully launched two NFT collections, "Undead Apes" and "Undead Lady Apes," before abruptly canceling a third, "Undead Tombstone."
According to the U.S. Department of Justice, the duo attracted investors with false claims, including fabricated partnerships with prominent companies and promises of benefits for NFT holders. After collecting payments, the team deleted their Discord and Twitter accounts, a move classified as a classic "Rug Pull."
Impact on Family and Defense
Nowlin's family revealed that he fell into a deep depression following his conviction. His mother claimed he was an unwitting participant in the scheme and placed the blame on Rhoden.
"In his eyes, I don’t think he believed he did anything wrong," said his brother, Daniel Barker. "My brother was just a young, naive kid who was taken advantage of."
According to Nowlin's lawyer, J. Jervis Wise, Nowlin was merely a technical developer for the project, while Rhoden handled the marketing. "He had no knowledge of the fraudulent plans," Wise stated.
Evidence of Money Laundering
Despite the defense, the Department of Justice presented evidence of Nowlin’s direct involvement. Investigations revealed that he laundered money using "chain-hopping" and illegal cryptocurrency mixers to obscure the movement of funds. These funds were traced directly to his personal bank account.
A Tragic End
Nowlin faced up to five years in federal prison, with sentencing scheduled for January 2025. However, on December 21, 2024, he was found dead at his home in Alabama. The cause of death remains officially unclear, but his family stated it was suicide.
This tragic case highlights the immense pressure and consequences faced by young individuals navigating the challenges of the digital world.
#nft , #Rugpull , #cybercrime , #blockchain , #MoneyLaundering
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
CriptoMaricaRJ021:
Mr Bukele no momento encontra-se na casa de sua mãe, depois se vc quiser, ele passa na sua casa!😂😂😂😇
JavaScript01:
f u loser.... $ONE will be the best performer
How Squid Game Fueled a $3.3M Crypto Scam: Lessons from the 2021 Rug Pull
In late 2021, scammers turned the global hype around Netflix’s Squid Game into a crypto nightmare. By launching the Squid Game Token (SQUID), they exploited public interest to steal $3.3 million in a textbook rug pull.
🚨 What Happened?
Scammers launched SQUID in October 2021, promising a play-to-earn gaming platform inspired by the hit show.SQUID skyrocketed from pennies to $2,860 within weeks, driven by media buzz and FOMO.On November 1, 2021, the price crashed to zero as the scammers disappeared, leaving investors with nothing.
💡 How They Tricked Investors:
Marketing implied a connection to Netflix and Squid Game, though none existed.Investors could buy but not sell tokens, masked as a game feature requiring additional purchases of “marbles.”FOMO, rising prices, and promises of massive returns kept investors hooked despite clear red flags.
🚩 Missed Warning Signs:
No official tie to Netflix or Squid Game.A poorly designed website with grammatical errors.Restricted selling, a classic rug-pull tactic.
📉 Lessons Learned:
Do Your Homework: Always verify claims of affiliation with major brands or projects.Beware of Selling Restrictions: Tokens you can’t sell are a glaring red flag.Anonymous Teams: Extra scrutiny is crucial when a project’s creators hide their identities.
🛡️ Avoiding Future Scams:
This event is a cautionary tale for all investors. Don’t let cultural excitement cloud your judgment, and always prioritize due diligence over hype.
📢 What Do You Think?
Have scams like this affected your crypto journey? Share your insights in the comments below.
#Cryptoscam #Rugpull #SquidGameToken #TheCoinRepublic #CryptoNews
🚨 What Happened?
Scammers launched SQUID in October 2021, promising a play-to-earn gaming platform inspired by the hit show.SQUID skyrocketed from pennies to $2,860 within weeks, driven by media buzz and FOMO.On November 1, 2021, the price crashed to zero as the scammers disappeared, leaving investors with nothing.
💡 How They Tricked Investors:
Marketing implied a connection to Netflix and Squid Game, though none existed.Investors could buy but not sell tokens, masked as a game feature requiring additional purchases of “marbles.”FOMO, rising prices, and promises of massive returns kept investors hooked despite clear red flags.
🚩 Missed Warning Signs:
No official tie to Netflix or Squid Game.A poorly designed website with grammatical errors.Restricted selling, a classic rug-pull tactic.
📉 Lessons Learned:
Do Your Homework: Always verify claims of affiliation with major brands or projects.Beware of Selling Restrictions: Tokens you can’t sell are a glaring red flag.Anonymous Teams: Extra scrutiny is crucial when a project’s creators hide their identities.
🛡️ Avoiding Future Scams:
This event is a cautionary tale for all investors. Don’t let cultural excitement cloud your judgment, and always prioritize due diligence over hype.
📢 What Do You Think?
Have scams like this affected your crypto journey? Share your insights in the comments below.
#Cryptoscam #Rugpull #SquidGameToken #TheCoinRepublic #CryptoNews
If you want to see which of your favorite influencers are frauds, check their #binancesquare now. They are bleeding. 🩸….now is not the time to shill coins to #rugpull you later. Their portfolios are down by about 50%….they will pull useless analysis outta their asses to get you to buy the coins they are holding. Hoping the volume will push their coins a bit up enough for them to cash out. Be careful folks. #DYOR
See original
US-based Bitcoin ETFs recorded a record $10 billion in trading on March 5, surpassing last week's record of $7.7 billion. These funds include BlackRock's iShares #BitcoinETF💰💰💰 (IBIT), Grayscale Bitcoin Trust (GBTC), and Fidelity Wise's Origin Bitcoin Fund (FBTC). IBIT has the largest volume reaching $3.7 billion. Although Bitcoin reached an all-time high price of $69,200 on March 5, it has since dropped about 12% to a low of $60,860. However, a partial recovery took the price to $63,350. Bitcoin ETFs have also recorded similar price declines, down around 8.6% on the day. Analysts emphasized that the sudden price swings are part of a "monthly ritual in a bull market" and criticized newcomers using Bitcoin through ETFs.
#rugpull
#Write2Earn
#rugpull
#Write2Earn
See original
1Step smart money technology principle:
By screening 1,000 wallet addresses from the 240 million addresses on the ETH chain, you can choose to follow orders to buy and sell, becoming an important black technology tool for industry leading investment research and KOL data to follow up and control the market situation.
Comparing with foreign Nansen and maestro software, the annual fee income last year was $80 million #Ai #聪明钱 #rugpull #零区块
#1Step
By screening 1,000 wallet addresses from the 240 million addresses on the ETH chain, you can choose to follow orders to buy and sell, becoming an important black technology tool for industry leading investment research and KOL data to follow up and control the market situation.
Comparing with foreign Nansen and maestro software, the annual fee income last year was $80 million #Ai #聪明钱 #rugpull #零区块
#1Step
$TNSR How can scam coins like this one be listed on binance? Braindead new CEO ruined trust into crypto by listing shitcoins like this TNSR on binance. #sol #scammers #Shitcoins #rugpull
$WIF Look at their telegram, a lot of transactions daily, mainly people who believes their $1, 000-$100, 000 will become millions.
Now, focus on what will happen to their funds.
#rugpullalert #rugpull #warning
Now, focus on what will happen to their funds.
#rugpullalert #rugpull #warning
See original
🚨🚨 $IO Scam Updates, Don't Buy IO 🚨🚨
IO.NET is one of the most talked about and trending crypto projects right now. The Solana-based Depin project revolutionizes the sector of shareable GPUs, which is a subcategory of decentralized computing.
The fake IO contract on Ethereum is suspected to be Rugpull and the current price of the token has fallen by 100%. Please do not purchase any coin named or related to io.net before listing it on Binance.
> Note: The Rugpull token uses the same name as the legitimate ones.
🌐 Token address: 0xc09fb61cd91439c2cb8f8554f701c33ceca47a25
Please note that this is one of the addresses; There are hundreds of fake coins and addresses in circulation, so don't fall into the trap. Binace will be the first place where IO will appear.
Stay alert and take care of your assets! If my post was helpful to you, leave it in the comments box.
#IONET #BinanceLaunchPool🔥 #Launchpool
IO.NET is one of the most talked about and trending crypto projects right now. The Solana-based Depin project revolutionizes the sector of shareable GPUs, which is a subcategory of decentralized computing.
The fake IO contract on Ethereum is suspected to be Rugpull and the current price of the token has fallen by 100%. Please do not purchase any coin named or related to io.net before listing it on Binance.
> Note: The Rugpull token uses the same name as the legitimate ones.
🌐 Token address: 0xc09fb61cd91439c2cb8f8554f701c33ceca47a25
Please note that this is one of the addresses; There are hundreds of fake coins and addresses in circulation, so don't fall into the trap. Binace will be the first place where IO will appear.
Stay alert and take care of your assets! If my post was helpful to you, leave it in the comments box.
#IONET #BinanceLaunchPool🔥 #Launchpool
See original
1Step is an intelligent WEB3 cryptocurrency tool that can help you find smart money and automatically buy and sell. It has a stop-profit and stop-loss function to help you achieve smarter investment in the cryptocurrency market. #聪明钱 #自动跟单 #rugpull #抢卖软件 #aegisweb3
❗️ ZKasino has stolen $33 million from its users
🏢 The decentralized gambling app ZKasino, which promised high profits and secure investments, turned out to be a rug pull.
🔍 Last Saturday, after the "long-awaited launch," instead of allowing investors to withdraw their funds ($33 million in $ETH ), they received ZKAS tokens, which were supposed to "ensure a smooth transition to mainnet and a great user experience."
👀 Later, it was revealed that ZKasino's official Telegram channel had been deleted, and the website of the fraudulent project removed the section about returning investors' $ETH . Instead, the scam project's team claims there is "a lot of FUD and everything will be okay."
💼 Additionally, from the scammer's wallet address, 10,500 $ETH were transferred to the liquid staking platform Lido.
❌ Following these events, the fundraising platforms Ape Terminal and AIT Launchpad canceled ZKasino's IDO, and the MEXC exchange canceled the listing of $ZKAS.
🥵 What can we say...? This has never happened before... and here it is again!
#ZKasino #ZKAS #ETH #Lido #rugpull
🏢 The decentralized gambling app ZKasino, which promised high profits and secure investments, turned out to be a rug pull.
🔍 Last Saturday, after the "long-awaited launch," instead of allowing investors to withdraw their funds ($33 million in $ETH ), they received ZKAS tokens, which were supposed to "ensure a smooth transition to mainnet and a great user experience."
👀 Later, it was revealed that ZKasino's official Telegram channel had been deleted, and the website of the fraudulent project removed the section about returning investors' $ETH . Instead, the scam project's team claims there is "a lot of FUD and everything will be okay."
💼 Additionally, from the scammer's wallet address, 10,500 $ETH were transferred to the liquid staking platform Lido.
❌ Following these events, the fundraising platforms Ape Terminal and AIT Launchpad canceled ZKasino's IDO, and the MEXC exchange canceled the listing of $ZKAS.
🥵 What can we say...? This has never happened before... and here it is again!
#ZKasino #ZKAS #ETH #Lido #rugpull
Another crypto scam shocker—ZKasino, a betting crypto platform, has blocked users' crypto withdrawals and closed its Telegram channel.
10,515 ETH ($31 million), belonging to users, was transferred to another address, and then moved to Lido.
In response, exchanges have delisted the project's native token ZKAS and cancelled its Initial DEX Offering (IDO).
10,515 ETH ($31 million), belonging to users, was transferred to another address, and then moved to Lido.
In response, exchanges have delisted the project's native token ZKAS and cancelled its Initial DEX Offering (IDO).
See original
Rugpull is a serious risk in crypto investing. Here are some ways to avoid it:
1️⃣ In-depth Research: Do thorough research on the project and its team before investing. Review whitepapers, roadmaps, and previous successes
2️⃣ Review Open Source Code: Check the project source code on platforms like GitHub. This helps ensure project security and transparency
3️⃣ Market Analysis: Review the market conditions and trading volume of the project. If there are suspicious price fluctuations or low liquidity, it could be a red flag
5️⃣ Use Trusted Exchanges: Trade only on trusted and well-known exchanges that have a good reputation for safeguarding assets and fighting fraud, such as Binance
#Binance #rugpull #dyor
1️⃣ In-depth Research: Do thorough research on the project and its team before investing. Review whitepapers, roadmaps, and previous successes
2️⃣ Review Open Source Code: Check the project source code on platforms like GitHub. This helps ensure project security and transparency
3️⃣ Market Analysis: Review the market conditions and trading volume of the project. If there are suspicious price fluctuations or low liquidity, it could be a red flag
5️⃣ Use Trusted Exchanges: Trade only on trusted and well-known exchanges that have a good reputation for safeguarding assets and fighting fraud, such as Binance
#Binance #rugpull #dyor
See original
#**🚀🐸 Pepe Cryptocurrency (PEPE): A Rollercoaster of Emotions 📉💸**
The Pepe cryptocurrency (PEPE) is a digital currency based on a meme of a green frog that was launched in April 2023. It had an impressive increase in value of more than 50 thousand times in less than a month, reaching a value of US$0, 00000990 and reaching a market capitalization of more than US$1 billion¹.
However, Pepe also had a sharp drop in recent days, losing more than 40% of its value and returning to below US$1 billion². There are some possible reasons for this devaluation, such as:
- A profit-taking movement by large investors, who sold a large amount of tokens and pocketed the profit alone, leaving other investors with worthless coins¹². This type of fraud is known as "rug pull" in crypto circles¹.
- A lack of transparency and credibility from Pepe's creators, who are anonymous and do not have a clear plan for the currency's usefulness or development¹. Furthermore, there was a suspicion that they were preparing a leak with the funds raised, after they changed the subscription parameters in a project wallet and transferred tokens to exchanges³.
- A loss of interest and support from the crypto community, which saw Pepe as a currency with no intrinsic value and no potential for financial return¹. Many investors preferred to bet on other more consolidated or more useful cryptocurrencies, such as Bitcoin (BTC) or Ethereum (ETH).
Therefore, Pepe is a high-risk, high-volatility cryptocurrency, which may have been an opportunity for quick gain for some, but also a source of loss and disappointment for others. It is important to be careful and do good research before investing in any digital asset, especially those based on memes.
#criptomoedas #Pepe 4864996421#AltoRisco#investimento
The Pepe cryptocurrency (PEPE) is a digital currency based on a meme of a green frog that was launched in April 2023. It had an impressive increase in value of more than 50 thousand times in less than a month, reaching a value of US$0, 00000990 and reaching a market capitalization of more than US$1 billion¹.
However, Pepe also had a sharp drop in recent days, losing more than 40% of its value and returning to below US$1 billion². There are some possible reasons for this devaluation, such as:
- A profit-taking movement by large investors, who sold a large amount of tokens and pocketed the profit alone, leaving other investors with worthless coins¹². This type of fraud is known as "rug pull" in crypto circles¹.
- A lack of transparency and credibility from Pepe's creators, who are anonymous and do not have a clear plan for the currency's usefulness or development¹. Furthermore, there was a suspicion that they were preparing a leak with the funds raised, after they changed the subscription parameters in a project wallet and transferred tokens to exchanges³.
- A loss of interest and support from the crypto community, which saw Pepe as a currency with no intrinsic value and no potential for financial return¹. Many investors preferred to bet on other more consolidated or more useful cryptocurrencies, such as Bitcoin (BTC) or Ethereum (ETH).
Therefore, Pepe is a high-risk, high-volatility cryptocurrency, which may have been an opportunity for quick gain for some, but also a source of loss and disappointment for others. It is important to be careful and do good research before investing in any digital asset, especially those based on memes.
#criptomoedas #Pepe 4864996421#AltoRisco#investimento
How Rug Pull Scams Work and How Not to Fall Victim 😡
Rug pull – theft of money by the token developers, is common on DEXs (where they control trading) and especially in meme tokens (where they don't need to bother with whitepapers and other details). At some point, the team simply takes all the money and disappears.
3 types of rug pull:
▫️ Withdrawal of assets from the liquidity pool on a DEX.
▫️ Changing the smart contract to prohibit the sale of the token.
▫️ The team/insiders dump all their available token holdings in a short time 😈
What to do:
▪️ In theory, any team with a token on a DEX can turn bad at any moment and take the money, so the best protection is not to use DEXs.
▪️ If the first option is not suitable, gather as much information as possible about the project/team/token/contract and double-check everything multiple times to minimize risk
#DEX #scam #rugpull #learningMoment
Rug pull – theft of money by the token developers, is common on DEXs (where they control trading) and especially in meme tokens (where they don't need to bother with whitepapers and other details). At some point, the team simply takes all the money and disappears.
3 types of rug pull:
▫️ Withdrawal of assets from the liquidity pool on a DEX.
▫️ Changing the smart contract to prohibit the sale of the token.
▫️ The team/insiders dump all their available token holdings in a short time 😈
What to do:
▪️ In theory, any team with a token on a DEX can turn bad at any moment and take the money, so the best protection is not to use DEXs.
▪️ If the first option is not suitable, gather as much information as possible about the project/team/token/contract and double-check everything multiple times to minimize risk
#DEX #scam #rugpull #learningMoment
See original
It is more than 4 times again. The tool is so useful.
1Step tool core:
1. Monitor every transaction of smart money in the past 90 days, buy and sell points, holding time and rate of return, and intelligently analyze its trading behavior
2. Automatically remove Pixiu addresses, track more than 1,000 smart money with the most profitable in the world, and automatically buy and sell with one click
3. Support setting stop-profit and stop-loss points in advance to sell
#聪明钱 #1Step #rugpull #抢卖软件 #SmartMoney
1Step tool core:
1. Monitor every transaction of smart money in the past 90 days, buy and sell points, holding time and rate of return, and intelligently analyze its trading behavior
2. Automatically remove Pixiu addresses, track more than 1,000 smart money with the most profitable in the world, and automatically buy and sell with one click
3. Support setting stop-profit and stop-loss points in advance to sell
#聪明钱 #1Step #rugpull #抢卖软件 #SmartMoney
Clarification on the recent MEXC_CEO Twitter Account Confusion
#Share #MEXC #rugpull Recently, there have been rumors on social media about the MEXC_CEO Twitter account. We sorry for any confusion caused by this incident and would like to clarify the following:Timeline of MEXC CEO's account:🔹In the early stages of MEXC's global market development: MEXC platform did use the Twitter account MEXC_CEO for promotion and maintaining brand image, engaging with users and project partners on Twitter.🔹July 2022: The original CEO left the position.🔹December 2022: The original CEO officially resigned from MEXC. The Twitter account MEXC_CEO was never officially verified by the MEXC platform, and due to its minimal content and followers, MEXC did not make a specific announcement (this is the fundamental reason for the widespread misunderstanding caused by the deletion of this account).🔹December 2023: Fans reported the deletion of the MEXC_CEO Twitter account. The individual associated with this account has no actual connection with MEXC Official.We sincerely apologize for any confusion caused by this incident. In the future, MEXC will handle such events more cautiously, and we have reflected on and made the following improvements:1. We’ve removed all interactive tweets from the former CEO, with no further explanations to avoid additional misunderstandings.2. Going forward, we will make public announcements of all significant personnel changes involving official media accounts.3. All official accounts on the MEXC platform are verified on the MEXC official verification platform: mexc.com/official-verify.MEXC's growth is inseparable from the understanding, trust, and support of our users and fans. We appreciate your feedback on all issues, and will make improvements accordingly.Thank you once again for your support. Merry Christmas to you all!MEXC Team
See original
Solana Squid Debunked: Stick with the Original Squid
In the ever-changing world of cryptocurrency, it is vital to remain vigilant. Today, we once again witnessed a regrettable incident: the Solana Squid project officially collapsed, and countless investors suffered huge losses. This incident once again reminds us that when investing in any project, we must carefully review its authenticity.
what happened?
Solana Squid claims to be a legitimate project inspired by the original BNB chain Squid, but now it has taken away investors' funds. This continues the practice of many projects taking advantage of the popularity of (Squid Game) to deceive investors. The promise of high returns and seemingly legitimate operations are ultimately nothing more than a scam.
what happened?
Solana Squid claims to be a legitimate project inspired by the original BNB chain Squid, but now it has taken away investors' funds. This continues the practice of many projects taking advantage of the popularity of (Squid Game) to deceive investors. The promise of high returns and seemingly legitimate operations are ultimately nothing more than a scam.