Connect with us


Shady SudoRare Platform Jumps Ship with over 800k in User Funds



Source: Nftplazas / Russell

In an all-too-common occurrence within the NFT sector, the words ‘rug’ and ‘pull’ have found themselves once again intertwined. This latest occurrence, seeing the inherently dubious SudoRare platform waste no time in making off with user’s funds.

Earlier in the month, news began to circulate regarding the arrival of the SudoRare platform. An apparent ‘fork’ of the two popular and unconnected NFT platforms, SudoSwap and LooksRare. Essentially, promising to provide lucrative rewards to those staking $LOOKS, $WETH, and $XMON on its platform, as well as incorporating an NFT marketplace.

However, in a move that seemed inevitable to many Twitter users, SudoRare waited a mere 6 hours before syphoning off the funds, shutting down its online presence, and making off with the ill-gotten gains. When the dust had settled, and the full extent of the theft realized, 519 ETH ($800k) had disappeared down the SudoRare black hole.

Prior to the unspeakable actions, alarm bells had already begun ringing within social media circles. With several users warning of SudoRare’s rug pull potential due to its insistent anonymity. A move that likely reduced the impact of the scam, and forced the SudoRare team to jump ship early.

Want more? Connect with NFT Plazas

Join the Weekly Newsletter
Join our Discord
Follow us on Twitter
Like us on Facebook
Follow us on Instagram

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

Continue Reading
Click to comment

Leave a Reply

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *