Bitcoin Forum

DecentraWorld (DEWO) was the latest who rug pulled and exit scam their investors. After reaching an ATH of $0.37, it all goes down so quickly.

Chart: https://www.dextools.io/app/bsc/pair-explorer/0x677e595aacf96da9cbd507c63404c0fa5deb644a (https://www.dextools.io/app/bsc/pair-explorer/0x677e595aacf96da9cbd507c63404c0fa5deb644a)

Look at the transaction here: https://bscscan.com/tx/0x94018528b5dd20ae977b8de3d8e808b0b13376a743edf6c557e9124282816f66 (https://bscscan.com/tx/0x94018528b5dd20ae977b8de3d8e808b0b13376a743edf6c557e9124282816f66)

They have sold and converted them to approximately more than 1 million USD.

I just don't understand that despite they are one of the priority projects of Kommunitas launchpad (based on strict criteria), why they still have initiated to pull this one off?

Their website and social media channels are deleted and nowhere to be accessed anymore.

Any thoughts on this one guys? Especially those who have bought DEWO tokens and got rugged?

The crypto space is full of scams and scammers. Sometimes I think the government guys are right. Crypto needs heavy regulation. Yes it will kill the innovation but it will kill the scams also. I'd rather get a scam-free environment than getting an environment where 99% of the devs are scammers and only 1% of them gain success.

I haven't bought any DEWO tokens because this is the first time I heard about it and I am glad I haven't before.

It's likely that they've planned it before doing this.

Until they're not able to reach that goal and plan, they're making it look like they're an actual serious team working for this project. As they say, "fake it until you make it".

This is so common in the market lately that there are too many projects rugpulling because of the money that they can easily make after being introduced to the community and having a good share of volume.

Cases like that were planned before to dstar, we won't know what traps await in the future. That's right, the token's official website is inaccessible, arranged with a neat plan. The platform is new but doesn't last long for about two weeks or so but it's already reaping huge profits.

I have encountered this project as I believe they were running bounty program.
But didn't know that they already managed to exit and scam its holders.
You are right, high probability that they were already planning to pull this stunt even before launching their project.
Though it is not big as some scam projects, but that amount, you can already live decently in your lifetime.
This is why many people are still hesitant in crypto market because of so many scammers. I won't blame them for being too cautious in this market.

It is a well-planned trick. They just want to pretend that they are legit and trusted platforms in order to gain trust from the community and fall into their trap. It was found to be unusual before but for now, it was a common tactic that these scammers do.
Well, it is sad to say that many projects turn to scams whether unintentional or intentional during the bear season that is why we need to be wise when investing this time. Only invest the trusted and known coins, not new projects.

What if they were part of the scheme? I don't know about this launchpad but I won't be surprised if someone from their team turned a blind eye so this project could sell those tokens. Was their smart contract even audited by a reliable third party? Did they make sure the team couldn't dump large volume?

I am an early investor in this project, they have launched several products, did advertisement in various places, smart contract has been audited and the team is doing KYC, looks like a very promising project, I also don't understand why there is a rugpull.

This rugpull already planned by the team. I would not be surprised to see that even the token that was touching the new ATH like this was rugpulling the investors. that's pretty much the same like what happened with squid game. The team has been planned for rug pulling the investors since the project was started.


It's caused by the team was scammer even if they have been making the project to be audited and KYC verified and it doesn't guarantee to the project itself. Im thinking about anyone should pay attention with this kind of project carefully. There are still bunch of scam projects like this in the market that intentionally rugpulling the investors since the start

this is definitly a rugged, i just hear the project now but they usually have locked on unicrypt or trustswap for period of vesting. according your tx they not draining the LP but direct from deployer

and i just take a look of their social media including their ann on bitcointalk all deleted https://bitcointalk.org/index.php?topic=5393952

I agree with what another person said in this thread...Sometimes I think the crypto market needs some regulation. Scamming is just too easy these days and it's really just getting annoying at this point. I feel bad for those who invested their hard earned money into this project and lost, but the worst part is, it won't be the last time this happens. Anyone who doesn't have morals or care about scamming people they will never see in person can just write up a smart contract, use services like those available here on these forums, wait a little while, and pull the rug to take off with some free cash. It's so easy I almost wonder why literally every other token isn't a rug pull...

I am not familiar with this DEWO project...and I am so sad to learn that this has become one of the many in the long list of scams and frauds in this exciting cryptocurrency and DeFi industry. Just one of the many good reasons why I don't easily trust a project no matter how solid they presented things to be...there are so many scammers in this industry that trust has already become a very important commodity. Unfortunately, people who trusted them are ending up helpless...and maybe just accept the fact that this is another risk we are facing while being in here. So sad.

Thoughts? Hmmmmm a classic rug pull and there's nothing new about it.
With how many rug pulls that we saw in the past years, I don't know if it's only me but I see this as a normal thing already with crypto as long as there is no regulation that is being made.

It's quite unfortunate as always to see investors losing their money because the token that they bought just got rug pulled but.. it is what is and that is why Crypto-Youtubers always say this famous quote "Invest what you can afford to lose. This is the reason why investors are very hesitant when investing in crypto thus, it slows down the adoption of it. Scam projects everywhere, projects going rug pull etc. It would be better if investors will just focus on the top market cap coins.

Well, it looks like thats really the case. They just waited for the perfect timing to exit and leave the people who trusted them. I feel bad for the investors who became victim of this project. Nowadays many projects are trash, thats why its hard to find a legit that will give you a profit once you invest. The reason why I dont trust a projects that are not existing for years because it might turn like this.

I am expecting more of this in 2022 and into 2023, if you know what's good for you stay away from new metaverse projects unless they are very much transparent in everything, metaverse hype isn't dead yet that's why many scam metaverse projects will keep appearing.

This has become a common thing for those who like to hunt for new projects, although I did not invest in this project because I was tired of seeing new projects that were only for pumps and dumps that benefited devs and early investors only.
There is nothing else to do considering they have deleted their web and social media.

This just got in! SolidProof, one of those who have KYC'd and audited DecentraWorld (DEWO) had published their initial investigation here:

Link: https://solidproof-io.medium.com/incident-decentraworld-dewo-9dcf612e4b68

And also EASTCOAST tweeted these, claiming that these pictures are the devs behind the DecentraWorld exit scam:

https://twitter.com/christoph0111/status/1529248604208111616

https://twitter.com/christoph0111/status/1529248583689678848

But I am not sure about this yet, as I need a final update from SolidProof, Kommunitas and the rest who have KYC'd and audited them to expose their filthy faces, IDs, etc.

Most projects that have intention to rugpull do wait for the perfect timing and opportunity doing it.

It's like everyday that we're seeing a project that has been new and then a rugpull has been made. Investors should realize that they have to avoid majority of the new projects and get a focus on the older ones that has been solid and proven.

Hopefully, those who are involved will have to suffer and will be caught for what they've done.

I have experienced several rugpulls and this is the fastest falling rugpull, only 1 hour from ATH to the lowest price, very painful indeed, so many scammers in the crypto world, be careful.

It honestly wouldn't be odd for scam projects to actually put in the effort before pulling out their entire team and leaving the investors behind. This is probably to try and attempt to scam more money from their investors. They'd probably even risk their identities because they've already prepared in trying to escape and probably change their identities somehow. Ofc with a reliable team and a small mistake they could be found, but it can take a lot of time.

I heard about the project the other day and how it scammed its investors. I feel bad for their investors. No matter how good the projects are, how solid the team/dev looks like are, there's still a small chances that it might be that kind of projects. It hurts to see that people are losing their trust on new projects because of the past scammed ones.
Even their social media channels are nowhere to be found. Guess like they planned this really well.

Things like that could happen in the crypto industry because after all, when they see the money in front of them it's really hard to resist and they more likely take the chance to rug pull and dump their coins without realizing the things they've gone through to build their teams and trust from their investors. This is why you always consider not to put everything in such investment because bad things has always some room in them and when you are unlucky to invest in such a project, you are doomed to lose everything you have.

The chart of DEWO was remind me with LUNA. Both are having similar chart. I think that this already fully organized by the team. There was also another possibility if they were putting fake KYC verification. Im sorry for investors who have been loosing a lot in this shit scam token. They act like a legit project to attract funds to come. I think that without a report to the police or regulators. It's hard to make exchange site to reveal the identity of this scammer.

It's no wonder this has happened, in the BSC network, rug pull tokens are very frequent. Even if you think the token is very good at holding, want to enter the exchange, want to be listed on coinmarketcap, event burn, even those who have received an audit can't be separated from this rugpull. Stay careful in choosing tokens, I think there are some clear BSC tokens, such as safepall, TKO, Sfund, maybe their team work can be exemplified as investment worthy projects.

Yes, The same can be said for any bubble industry, but at times like these it is important to make independent and educated decisions about where we invest our kit money and about how to avoid similar scams from happening in the future. I think this should raise questions for each of us regarding the future of ICOs and investing in general.

It looks like rug pulling is a norm in Defi Industry.  This is one of the reasons why I am so careful in dealing with Defi and NFT since we will never know when is the time the project owner decides to scam its investor and rug pull the fund leaving unsuspected supporters and investors with worthless tokens/NFT behind.  This kind of event makes me think that regulation is better than non-regulated decentralized economy.

I received a ton of invitation from this project in Discord and thankfully, I ignored it although not entirely as I tried to check what the project is.
It could've been good, but I don't like being late with Metaverse projects. The earlier, the better to maximize the profits and ROI as fast as possible.
Rug pull is not new in the world of Metaverse anymore, they will do that when they see value going high.
This case though is one to be seen because of it gained popularity. Something to look by the police if ever they slipped information about them.

This is not surprising at all as we know BSC has became one of the best place for scammers to create scam projects and make people fool, people need to understand this point before investing in BSC based projects especially new investors who are mostly becoming the victims of this kind of rug pull projects and end up their investments in loss although It's all happening because people are falling in hype and greed they are not trying to investigate about the projects by their own.

Oh crap, so another project suddenly disappeared, sold of their crypto's and then left without any trace. For sure there could be another project in the horizon who are going to do this stunt again. So we might as well get the profits if you have invested on such shitcoins right now and don't wait till they pulled this kind of scam. And this is another big lessons for everyone to really get out while they can because it's hard to know who are the scammers and who's here for real.

Even audited team and KYC verified still they scammed many people, that's sad to hear every time that happened. The reason of it obviously was greed and with money as the reason it became changed their personality. It showed that no safe in this industry at all, when they planned to scam people they will surely do it despite the legitimacy of the project.

this the trick that common happen to rug projects, at early they are trying to be good project. communication to between community and dev team running well till alot investors growth and believe this is legit projects. everything will be good till finally this fake dev team has chance to rug pull and sold their token in market. investing in new project will find this risk and we affraid better to go away and buy major caps only.

I think there are already a lot of scam tokens on the BSC network, surprisingly there are still those who want to buy this trash token, they should have learned from their previous experience how these tokens take your assets subtly. but it's still their decision, I wonder what's so special about this DEWO token? if it's just a simple DeFi, it suffices to prove this project will soon be a rug pull.