A blockchain sleuth recently discovered a connection between the deployer of MULTIS and ZOO tokens, the latter of which was a scam.
MULTIS deployer created ZOO
Security is a significant concern within the blockchain ecosystem, with many scammers launching fake projects. A blockchain developer recently deployed two tokens, MULTIS and ZOO, the latter of which lost value at inception.
Blockchain sleuth AegisWeb3 detected some connection between the deployer of MULTIS and ZOO tokens. Based on the sleuth, the deployer of the tokens has malicious intentions.
The ZOO token goes by the name ZOODAO on Etherescan. This deployer created the ZOO token, which was sold and dropped 100% soon after the sale.
Based on the sleuth, the ZOO token was pumped and later dumped by the deployer. AegisWeb3 traced the funds which were moved from Binance hot wallet. Furthermore, the deployer managed some interactions with other proxy contracts.
Etherescan analytics indicate the same wallet dealing with ZOO (0xbf56) is connected to the MULTIS token.
Essentially, this deployer created two tokens and pumped their prices using the same address in a mission to steal from investors. As such, the explorer asked investors to be wary.
The rug-pull problem in BNB Chain
The ZOO token mentioned by the analyst was based on BNB Chain and traded via Pancakeswap. According to reports, the rug pull problem is increasingly rising across the BNB blockchain.
BNB chain has been identified by analysts as the center of rug pulls in 2023. For instance, a report indicated that about 73.3% of rug pull scams since the beginning of the year occurred on the BNB chain.
A few weeks ago, a report indicated that since the start of 2023, about $199 million had been stolen in the crypto landscape. The report stated that although the year is about three months old, over 19 breaches have already occurred.