The crypto community is known to be particularly detective, and NFT supporters within that community are no exception. Recently, some detail-minded individuals have found suspicious behavior in their new NFT project, Squiggles.
After that, NFTs will be delisted from OpenSea, and Squiggles may slowly disappear as a whole project. However, while some of the signs of “rug” were immediately noticeable, others were much less noticeable and tactical. What does the rug in the NFT world look like? It’s really easy. We promise to run a large roadmap and have no intention of running on that roadmap. Close your shop on social channels, lock community channels to reduce noise, and move on to your next big hype project.
Let’s see how quickly the NFT community grasped this, signaled the details of this project, which is a potential lag pull, and took subsequent actions.
Dig in depth: detailed report
In just a few hours before reaching Squiggles’ public mint, a 60-page “manifest” entitled “Squiggles Rug Alert” was distributed online, including details about the project and its founders. The original document was then removed from the list from its host site. But by the time all of this is unleashed, the project has already gained considerable momentum, with a total of nearly 1 million followers across Discord, Twitter and Instagram, just a few hours away from the first mint. I didn’t. This project was previously faced with the accusations of mirroring the popular NFT project “Doodles”.
We looked at the manifest through a public source internet archiving tool, and it’s certainly a chunky report. The document begins by listing many different “same crew rugs” and claims that the trio has scammed more than $ 10 million from potential investors, and the three founders (still in high school). Deeply cover up (including one who seems to be). This document contains a number of different screenshots to support your claim.
The report ends with a clear intention to track the trio, “tThis is a 10-30% cash reward for the following information: It leads to monetary sanctions collected by the SEC.If You want a reduction in our reward money, stay away Our final report, or you need to DM our information Mint of Squiggles at 1:00 pm Eastern Standard Time. All Instagram accounts associated with an individual have been private or deleted. At the time of publication, the co-founder had only one Twitter account. @ 407The project seems to remain with the founders claiming not to be rugged.
Throughout Squiggles’ social channels, accounts claim to remain innocent and the project is intended to move forward as a well-meaning and legitimate project. However, other online detectives continue to find more and more unpredictable problems with a positive view.
preliminary report: @squiggles NFT used a series of shadow wallets to buy NFTs and made them look good. Only a small portion of their sales are genuine.
Instagram ArsalanAKA amateurs are scammers! pic.twitter.com/SusbDOk4ho
— Coffeezilla (@coffeebreak_YT) February 10, 2022
Coffeezilla also said that the project’s founders used a validated Twitter account to manipulate the social media platform TOS and ban manifest releases on Twitter to minimize project chat. Explaining. It’s obviously a deep, deep game. Some users have also found very common tweets between Squiggles and the new NFT project “doodleape NFT” (or “dape”). Many different users of social channels claim that they were immediately banned on the Squiggles Discord channel just by asking the questions surrounding this week’s controversy.
Related reading | The first Japanese anime NFT Otaku Club released in Metaverse
After limited success on OpenSea, the Squiggles project has since gone live on emerging NFT platform LooksRare. | Source: LOOKS-USD on TradingView.com
NFT and increased rug pull
According to a recent tweet on the project’s Twitter channel, the Squiggles project has been delisted from OpenSea.The project was after that Posted in Looking Rare At the time of release, there are still floors that exceed 0.3 ETH.
Hey Squiggles community, we don’t know what’s going on with OpenSea so far. The team is investigating and will be back soon on this issue, but it seems that OpenSea has delisted all NFTs. collection.
— Squiggles (@squiggles) February 11, 2022
As NFT lags are becoming more and more common, as always, do your best to do your own research, understand the risks in this area, and reduce the potential bias in assessing your project. Please do your best. Celebrity solidarity guarantees are not due diligence – look at the prominent Twittery cryptocurrency account @zachxbt as prominent individuals are increasingly calling for solidarity guarantees to Ragpur, as in this recent Trippie Redd NFT project. give me.
Discords were removed, hundreds of ETHs occurred, there were no tweets from the founders of celebrities, and prices were near zero.
Can developers do anything? !! ?? pic.twitter.com/EM12LA5T0C
— Zachxbt (@zachxbt) February 10, 2022
Related reading | Meme coin Doge coin, Shiba Inu failed in the top 10 despite recovery
Featured image from twitter.com/squiggles, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.