Scam project on Binance Smart Chain

[dotcoin.info]

Meerkat Finance launched just a couple of days ago and almost immediately announced a "hack" of the smart contract vault that resulted in the theft of 13,000,000 BUSD and 73,000 BNB (~$31 million).

Immediately after the "hack" the project website was closed and the Twitter account was deleted.

https://t.me/bubbalexmedia/1136

[goaldigger]

Many says that a lot of shit projects going into Binance Smart Chain, and it just like the old days where those scam project enter the market through ETH platform, it looks like a good old cycle to me. Anyway, I wonder what kind of action that Binance will do with regards to this matter, this is not just a hack, this is an exit scam.  

[steampunkz]

Sorry for the loss of all the investors who put their BNB funds, I did not know about that project, Did Binance promote the project to their members? There is something fishy because on the first day of Launched already hacked? I will be waiting for the further investigation of binance in this one.

[Ceyflix-Rez]

Now I want to sit back and see what binance will do about this because all in the name of binance merged to the smart chain there will surely be more incoming scam projects

[jrrsparkles]

Just an exit scam performed well when the Binance reputation is at its peak, people can be attracted to the project because they have name Binance attached to it somewhere but it may take time for investors to realize its just a network like ethereum and other coin and has nothing to do with the Binance.

[Kunnu]

This is very unfortunate now scammers are moving to BSC to do their scam attempts which is not surprising because one day it had to be happened crypto industry can't be scam free even if it's centralized or decentralized we will have to be very careful and aware to protect ourselves from scammers new people mustn't fall in greed and consider to invest in genuine altcoins by doing deep research.

[ttcsalam]

This is bad news for any investor.Hopefully, it will be properly investigated and the hacked dollars will be recovered.Because it will be easy to get information from which accounts such a large transaction has taken place.I hope that if the hackers are caught then the money of the investors will be recovered.

[criket]

at first, they look good. but it turns out that now it ends up being a scam and worse by bringing in large amounts of money.
great effect to hit the crypto market, BNB, and also trust in the binance smart chain user project.

the question is whether the money going is untraceable for the user or the account that got the money.
or the freeze binance can do? can't something like that be done? if it is clear that the money goes to an exchange address to be ready to be withdrawn.

[MRKLYE]

A scam on a centralized EVM fork? lol. no way! /s

[makishart]

The real scammer was the developer itself. merkaat already created to be a scam project and it already prepared. I do believe if the dev is running away with all of money.
BSC has become a new place for the scammer to generate more and more scam coins.
I still prefer ethereum rather than garbage coins on BSC. The scammer will always avoid the fees. Becareful so many scam projects these days.

[Renampun]

Damn, that scammer took off a lot of money...

The real scammer was the developer itself. merkaat already created to be a scam project and it already prepared. I do believe if the dev is running away with all of money.
BSC has become a new place for the scammer to generate more and more scam coins.
I still prefer ethereum rather than garbage coins on BSC. The scammer will always avoid the fees. Becareful so many scam projects these days.

thank you for the warning you gave. bsc, erc or trc will not be separated from scammers. the scammers will definitely continue to take advantage of it while it's fresh. the point is we have to be careful of new projects that emerge.

[Review Master]

Many says that a lot of shit projects going into Binance Smart Chain, and it just like the old days where those scam project enter the market through ETH platform, it looks like a good old cycle to me. Anyway, I wonder what kind of action that Binance will do with regards to this matter, this is not just a hack, this is an exit scam.

Indeed, this is the oldest cycle of scaming those crypto users who get themselves as a rekt one by being into hype/fomo and looks like Binance won't do anything as BSC already gets so many negative feedback from community. But all centralized exchange can freeze those funds if hacker try to convert those funds into cash which might be a great way to reduce the overall cost, IMO. As always, DYOR first before taking any further steps into DeFi projects.

[FloridaKid]

Ethereum is a decentralized project right? But this BSC is fully centralized so won't binance take the blame? Won't this affect binance reputation? I'm sure binance won't sit back and do nothing about this, scamming on a centralized smart chain is bad idea

[dhemasm]

Another Rug Pull eh? DeFi does bring Positive Influence but also Negative Influence by irresponsible parties and this is very unfortunate, I also joined Yield Farm but it's better to pick a better & bigger Coin even with a lower APR such as CAKE, UNI. Well, we have to be more careful not to be tempted by a big APR, Careful Guys!

[Mpamaegbu]

I have bought a few tokens through the BSC though I haven't cashed out on them. Still waiting to see what ROI they will give. Most of the tokens on the BSC seem to be doing well a lot, at least when one checks the historical data on them. So, I believe that's what is causing the hype and rush. But this scam and deceit thing isn't exclusive to the BSC. Metamask also has its own share.

At the moment, there's a token I am holding on the BSC. There's a lot of skepticism around it, whether it has been abandoned or not by the dev and team. But I ain't letting that worry me at the moment as I keep tap on it. Remember, there's always that caveats — Don't risk money you can't afford to lose. That's the mindset I adopt whenever I make any crypto investment. It's a 50-50 thing.

[santiPOGI]

Meerkat Finance launched just a couple of days ago and almost immediately announced a "hack" of the smart contract vault that resulted in the theft of 13,000,000 BUSD and 73,000 BNB (~$31 million).

Immediately after the "hack" the project website was closed and the Twitter account was deleted.

https://t.me/bubbalexmedia/1136

This was really suspicious to me, it won't happened if there is no inside job. The fanatic of Binance or believers of BNB will not going
to invest if they didn't see any good reputation about it. But that's not what happened, instead they've invested because of the high reputation
were Binance have. This was not the first time happened to this platform, let see how Binance will handle this issues anyway.

[TheGreatPython]

Meerkat Finance launched just a couple of days ago and almost immediately announced a "hack" of the smart contract vault that resulted in the theft of 13,000,000 BUSD and 73,000 BNB (~$31 million).

Immediately after the "hack" the project website was closed and the Twitter account was deleted.

Scammers are not new, so I’m not surprised, I know for sure that they are still going to find their way to Binance chain and still continue playing the same tricks that they have been playing on the Ethereum chain and nothing changes about it.

It’s still up to people to always be making sure that they are doing the things that they are meant to do which is properly checking the projects that they want to invest in, if you don’t do that you’re going to be falling into scam projects without being aware of it until it dawn’s on you that you have been scammed. So people really has to be careful. As for Binance I don’t know if they really have much to do in a situation like this, if it’s possible, maybe they should assist removing projects that are suspected to be owned by scammers.

[Saisher]

Many says that a lot of shit projects going into Binance Smart Chain, and it just like the old days where those scam project enter the market through ETH platform, it looks like a good old cycle to me. Anyway, I wonder what kind of action that Binance will do with regards to this matter, this is not just a hack, this is an exit scam.  

When you do not hear anything from the developer after they accumulate funds, then it's 100% an exit scam, this will ruin investor's confidence to invest in Binance smart chain, these scammers are good and they are already doing this back in the ICO and the DeFi, they just switch in the Binance Smart Chain, this is something to worry about and investors should do a lot of research.

[cabron]

The Meerkat Finance incident is the largest in BSC history.  Crypto assets worth about $ 32 million were withdrawn from the Meerkat Finance protocol.Despite the high centralization, BSC began to attract an increasing number of DeFi-sector users due to low fees, so this place will now attract scammers.

It already did. BSC will be full of scam just as how ETH attracted many of them it. But this regularly happen in crypto, people are not surprised anyone about it. BUSD is a centralized token as far as I know and it can be traded on Binance, P2pb2b, and CurveDao only, they should be able to stop it unless its also on Uni and other DEX.

[Teraboy]

Ethereum is a decentralized project right? But this BSC is fully centralized so won't binance take the blame? Won't this affect binance reputation? I'm sure binance won't sit back and do nothing about this, scamming on a centralized smart chain is bad idea

It wont affect the reputation of binance consider some scam defi already used BNB chain to fool the investor and even binance exchange site too.
Binance will also be blamed caused by this. It looks like there's a news if meekat finance is coming back again and the scammers who has been running meekat said that it's a rug pull test lol.
If the dev can do that and the dev has intention to steal the money from the pool.