- About $820,000 in ether and other cryptocurrencies were taken in the incident.
- The platform’s website and Twitter page disappeared shortly after the theft.
Several Crypto Twitter users have expressed concern about this sweats It was a scam, and now the developers of the exchange seem to have pulled the plug. About $820,000 in ether and other cryptocurrencies were taken in the incident.
On-chain data indicates that the problem occurred as early as Tuesday, just six hours after the launch of SudoRare. An anonymous team created the exchange as a fork of the NFT LooksRare and Sudoswap marketplaces so that users could pool their NFT holdings and earn fees by accumulating the project’s original token, SR. However, shortly after launch, the crew “pulled the rug,” the crypto-jargon for taking customers’ assets and leaving without a trace. The platform’s website and Twitter page disappeared shortly after the theft, leaving just $820,000 in funds behind.
A bold theft despite the warnings
Three Ethereum wallets were emptied when attackers took $315,700 in WETH, $200,000 in XMON, and $314,700 in LOOKS from the exchange and transferred them to ETH. PeckShield, a blockchain security company, has identified the attacker and linked him to the Kraken wallet. The company announced on Twitter today, citing proof of the series, that “the actor behind SudoRare rugpull appears to be a krakenfx user.”
Kraken is required to perform “know your customer” identity checks on all of its users since it is a US-based regulated exchange. Despite numerous warnings on Crypto Twitter that SudoRare might be a scam, the crime did happen. One must admit, it was a bold theft. Just six hours after launch, SudoRare rolled out the carpet with its website and all social media accounts associated with it.
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