Hacking actions appear to be skyrocketing even in extremely safe applied sciences equivalent to blockchain and cryptocurrencies. This time, the perpetrator is Dragoma, a newly launched Web3 sport on Polygon.
Hackers used the rug pull approach to steal $3.5 million value of crypto. The sport was primarily based on built-in GameFi and SocialFi parts and launched on Polygon only a few days in the past. The mission was based by Texas-based Ken Graese.
Dragoma used non-fungible tokens (NFTs) and different social media parts with its native token ($DMA). Moreover, the sport believes in an open and clear financial system. To attain this, the mission intends to use a dual-token economic system – one thing Vulcan Cast makes use of.
$DMA, Dragoma’s native token, is working on Polygon and is at present listed on MEXC – a well known centralized trade. The token being listed on MEXC would result in an elevated market cap as it’s uncovered to greater than 80 million lively customers of the trade.
When the basics had been robust, and $DMA confirmed bullish indicators, the native token fell sufferer to a rug pull.
We did examine, and dragoma.io is down, and their social media channels are deleted. $DMA had beforehand peaked at $1.78, and effectively, now it stands at $0.00058 (on the time of writing).
After the cruel rug pull, Dragoma group looks like they don’t even exist. Those that comply with crypto and blockchain video games know that this isn’t the primary time a mission has been rug pulled. Analysis from Chainanalysis exhibits that $2.8 billion value of rug pulls came about in 2021 alone.
What Is A Rug Pull?
A felony approach often called a “rug pull” happens when crypto engineers abandon a mission and flee with investor cash.
Rug pulls are frequent within the decentralized finance (DeFi) atmosphere, significantly on decentralized exchanges (DEXs), the place dishonest individuals develop a token, listing it on a DEX, after which couple it with a well-liked cryptocurrency like Ethereum.