In anticipation of the launch of Sleepless AI farming on the Binance Launchpool platform, unknown people have conducted a rug pull of the fake token of the same name.
As reported by PeckShield analysts, one of the addresses exchanged 1 billion fake Sleepless AI for $91,000 in ETH. As a result, the token’s price fell by 97.5%.
#PeckShieldAlert Sleepless AI $AI has dropped -97.5%
The address 0xB359…6f3d has swapped 1,000,000,000,000 $AI for 37.7 $ETH (~$91K)
*Note*: The #rugpull token shares the same name as the legitimate ones pic.twitter.com/C0M8vHxRbz— PeckShieldAlert (@PeckShieldAlert) December 28, 2023
A similar rug pull scheme was carried out with the fake FomoFi token. The attacker’s address exchanged over 5.3 trillion FOMO for 189,600 BSC-USD, after which the coin price dropped to zero.
Another incident devalued the NebulaNode token after exchanging numerous NNNN tokens for 1033.8 BNB, the equivalent of $335,900.
See Also: Catalyx Stops All Crypto Trading Operations Following A Security Breach
Farming of the original Sleepless AI project on Launchpool started on Dec. 28; the project became the 42nd in Launchpool.
It presents a web3 gaming platform using AI. Currently, users can stake BNB, FDUSD, and TUSD in pools to farm AI tokens in a campaign set to last seven days.
Security experts Certik reported a rug pull involving fake Linea tokens earlier in October. As a result of the fraud, unknown people stole about $743,000.
Victims have stated that the scam was potentially conducted by a Russian user named ‘AltLex,’ promoting the token on social media.
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