Safety Concern As BNB Chain Token, WEWE, Experiences A Rugpull
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Safety Concern As BNB Chain Token, WEWE, Experiences A Rugpull

  • Users holding WEWE on the BNB Chain saw a price decline due to a possible rugpull.
  • Negative sentiment and declining user activity posed challenges to BNB’s reputation.

Recently, participants within the BNB Chain (BNB) found themselves entangled in what appeared to be a rugpull. 

This unfortunate incident involved the WEWE token, which left users grappling with a substantial 98.82% price drop.

WEWE Price Chart | Source: Coinstats


On the 15th of January, AegisWeb3, a cybersecurity firm, identified a significant sell-off by multiple addresses within the BNB Chain, raising concerns among users.

This unfortunate incident could potentially cast a shadow on BNB’s reputation, impacting user trust and confidence in the network.

The abrupt decline in WEWE’s price underscored the vulnerability of certain tokens within the BNB ecosystem, prompting a reevaluation of the platform’s security measures.

See Also: Solana Users Hit With Rugpull By MangoFarmSOL Farming Protocol

Santiment analysis revealed that the Weighted Sentiment around BNB had experienced a decline, with negative comments outweighing positive ones.

WEWE Sentiment


This shift in sentiment may signal growing apprehension and skepticism among users, potentially affecting BNB’s adoption and overall market perception.

Moreover, the decline in overall active users within the BNB Chain, as indicated by Token Terminal’s data, suggested a potential disengagement from the platform.

A 6.4% decrease in network growth within 24 hours raises questions about user satisfaction and interest in the aftermath of the rug pull.

The financial aspect of the rug pull is also noteworthy, as the revenue within the BNB Chain fell by 24.2% within the same period.

BNB Chain Has A History Of Rugpulls

This rugpull is not an isolated incident, adding to a series of similar events on the BNB Chain.

See Also: CLINKSINK Drainer Campaigns Stole About $1M Worth Of SOL

Previous rugpulls, related to the OMNI token on the 25th of December and a meme coin on the 27th of August, contributed to an unsettling pattern.

Despite these challenges, BNB’s price demonstrated resilience, growing by 3.73% to reach $316.89 at press time. 

The positive price action may be attributed to various factors, including the overall bullish sentiment in the crypto market.

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