DEWO just got rug pulled

[LouVandetta]

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.

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.

[yazher]

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.

[makishart]

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.

[asyakashi]

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.

[Gayong88]

DecentraWorld (DEWO) was the latest who rug pulled and exit scam their investors.

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

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

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.

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.

[lionheart78]

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

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.

[Dart18]

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.

[Kunnu]

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.

[Kemarit]

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.

[raidarksword]

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.

[strunberg]

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?

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.

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.

[diminizio]

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.