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Hackers are Manipulating Smart Contracts for Crypto 'Rug Pull' Scams, Researchers Say

New research suggests that crypto scams are getting worse. One popular strategy is the token "rug pull," where malicious actors fake hype over a crypto coin, abandon the project halfway, and steal all the investors' money.
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Crypto Investors Duped of $1 Million via Bogus MetaMask Token, Scam Classified as Honeypot and Rug Pull

A fake MetaMask token was created using tools from the DexTools site. The bogus token quickly grew by 2,600 percent and as soon as tokens worth $1 million (roughly Rs. 7.4 crore) were sold, the sale of the fake MetaMask tokens was halted.
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Source: ndtv.com

BBCNEWS World Business Report November 2, 2021 05:45:00

Live next month. as you mentioned, it was inspired by the popular korean series which is based on a deadly game. but experts say there were a number of signs that this was a scam from the very beginning. gizmodo said that potential investors should be warned, mainly because the now—defunct website was filled with spelling errors. social media accounts promoting the digital asset have now disappeared and another big red flag was that investors could only buy it, not sell squid. this is being ca...
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