Space ($SPC) raises millions only to become a RUG! Unveiling this meticulously planned Web3 top-tier scam
Core content:
1. Project background and 'halo' packaging
The Space project ($SPC) was previously deep-packed by certain Agencies, even appearing in the research sights of mainstream platforms like Binance. It was this false 'top-tier endorsement' that lulled many retail investors into a false sense of security.
2. Harrowing market performance
According to the candlestick chart, SPC experienced a vertical drop right after launch, plummeting over 92%. This extreme movement is not a normal market correction but a typical RUG PULL behavior where the project team pulls liquidity and violently crashes the price.
3. Despicable scamming tactics
โข No tokens from private sale: According to major influencer 'HKยทL_็่ฑไฟ', the project raised over ten million dollars but before the launch, funds were dispersed to several mainstream exchanges (Kraken, HTX, KuCoin, MEXC, Binance) suspected to be prepared for cashing out.
โข Refusal to refund: Retail investors involved in the project, regardless of whether they requested refunds, did not receive any tokens. The backend shows 'You have no allocation', completely erasing investors' rights.
โข Big holders face massive losses: The influencer claimed to have invested $750,000 (about 5.4 million RMB), only to lose it all and face a dead end in seeking justice.
4. The dilemma of seeking justice and industry reflection
โข Cross-border justice challenges: Victims tried to file cases domestically and contact security agencies abroad, but due to the project's funds having been cashed out through exchanges, recovering them is extremely difficult.
โข Rights protection groups' traps: Reports claim that the so-called 'rights protection groups' are filled with the project team's shills, drowning out the voices of real victims.
โข Industry warning: The foundation of this scam is said to be linked to remnants of certain major pyramid schemes in the country (like Shikongyun).
๐ก Avoidance guide:
โข Be wary of Agencies making calls: Even if large platform research reports mention it, check if contract permissions have been compromised.
โข Monitor fund flows: Projects transferring funds frequently to exchanges before launch are likely preparing to crash the market for cashing out.
โข Manage your position: In Web3, there is no absolute safety; never stake your life savings on untested new projects.
#Space #SPC #RugPull #crypto scam #rights protection
#ๅธๅฎๅนฟๅบ "What other RUG projects have you seen under the guise of 'top-tier endorsements'?"