Combining GameFi and SocialFi elements, Polygon-based Web3 application Dragoma stole its users’ assets.
The decentralized nature of crypto is one of the important factors that affect the industry in terms of trust. Of course, this decentralization brings with it many security measures. However, things take on a different dimension when malicious people develop an application completely included in this system. One of the latest examples of this is Dragoma; The Polygon-based Web3 lifestyle fitness app, which combines GameFi and SocialFi elements, has stolen assets from users.
Polygon-Based Dragoma Scams Are Missing
According to crypto-focused security firm PeckShield, Polygon-based Web3 app Dragoma, which combines GameFi and SocialFi elements, has vanished by stealing its users’ assets.
The DMA token hit an all-time high of $1.81 on August 8. Shortly after the rise, all the assets of the investors were confiscated. After this scam, called the rug pull, the DMA token fell 99.99 percent to zero. It is not yet clear how many assets were stolen in the incident.
What is Rug Pull?
Rug pull, which has the meaning of “pulling the carpet” when translated into Turkish, is actually a type of fraud. The name carpet pull comes from the fact that carpets gain in value after purchase. Its counterpart in the crypto industry is known as rug pull. Rug pull fraud; It is done in the form of malicious cryptocurrency developers after increasing the value of their projects, ending their trading operations and running away with the money they have obtained. With this method, the decentralized project is left illiquid and the project team disappears with the funds belonging to the investors.
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