Emerging on the Arbitrum network, Swaprum (SAPR) has performed $3 million worth of rug pulls.
The increasing number of users of the cryptocurrency market also increases the fraud stories. Many crypto projects are running away after making big promises to their investors. Especially last year, hundreds of millions of dollars of crypto profiteering took place.
Finally, PeckShield announced that the project called Swaprum, which appeared on the Arbitrum network, defrauded its investors. Data tracking agency reported that Swaprum performed a $3 million rug pull.
Swaprum Achieves Million Dollar Rug Pull
There has been a new scam in the crypto industry. A project called Swaprum (SAPR), which appeared on the Arbitrum network, stole $3 million from its investors.
Data tracking platform PeckShield announced the scam on Twitter. PeckShield said the team stole $3 million and then shut down their social media accounts. Also, Swaprum’s website is still up and running. It is not known who or who the project team is.
#PeckShieldAler #rugpull @Swaprum on #Arbitrum rugged ~$3M, $SAPR has dropped -100%. @Swaprum already deleted its social accounts/groups.
The scammers have bridged ~1,628 $ETH to #Ethereum and laundered 1,620 $ETH to Tornado Cashhttps://t.co/tUNgbwGQCd pic.twitter.com/UH8V9RyFHy— PeckShieldAlert (@PeckShieldAlert) May 19, 2023
The Swaprum team moved the 1,628 ETH they stole from their investors to Tornado Cash. Trying to destroy its trace on the crypto-stirring platform, the team victimized investors. The team first built a bridge between Arbitrum and Ethereum. The assets were then transferred to Tornado Cash. In the Telegram channel of the project, it is stated that there are about 190 thousand users.
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