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A "software design studio" based out of New York creates a "game" called Peacefall.

The site, itself, is owned (along with many scam type sites) by a crypto marketer out of Singapore. He, seemingly, owns all of the other sites involved, along with many, many others.

Peacefall.xyz was based on an ETH contract that eventually dilutes to zero. Why would anyone mint something in this game, knowing that it would be worthless at the end?

Prometheans was similar. You pay, you play, you mint... then get nothing. Is the game maker making money off the gas?

The wallets involved have all been flagged as phishing/scamming on the blockchain scanners, like etherscan.

Jollyswap.xyz purported to be a loot box trade for Christmas, then ripped everyone off who bought loot boxes. A user would buy a loot box and it would, supposedly, trade for other people who also gave minted NFTs. They all lost money and paid for the gas to make it happen.

This "software design studio" has hundreds of these operations running along with the bad actor out of Singapore.

There is also some transactional history with a fake porsche NFT site that closed its ETH wallet by transferring $25 million US into doge just a couple of weeks ago. This wallet was also flagged.

What would you recommend a victim of this scam do?

https://pic8.co/sh/p0VT6e.png

https://pic8.co/sh/PUtWqV.png

https://pic8.co/sh/tyk3Nf.png

https://pic8.co/sh/DNofEu.png

https://pic8.co/sh/0Cuj17.png

https://twitter.com/jollyswap

A "software design studio" based out of New York creates a "game" called Peacefall. The site, itself, is owned (along with many scam type sites) by a crypto marketer out of Singapore. He, seemingly, owns all of the other sites involved, along with many, many others. Peacefall.xyz was based on an ETH contract that eventually dilutes to zero. Why would anyone mint something in this game, knowing that it would be worthless at the end? Prometheans was similar. You pay, you play, you mint... then get nothing. Is the game maker making money off the gas? The wallets involved have all been flagged as phishing/scamming on the blockchain scanners, like etherscan. Jollyswap.xyz purported to be a loot box trade for Christmas, then ripped everyone off who bought loot boxes. A user would buy a loot box and it would, supposedly, trade for other people who also gave minted NFTs. They all lost money and paid for the gas to make it happen. This "software design studio" has hundreds of these operations running along with the bad actor out of Singapore. There is also some transactional history with a fake porsche NFT site that closed its ETH wallet by transferring $25 million US into doge just a couple of weeks ago. This wallet was also flagged. What would you recommend a victim of this scam do? https://pic8.co/sh/p0VT6e.png https://pic8.co/sh/PUtWqV.png https://pic8.co/sh/tyk3Nf.png https://pic8.co/sh/DNofEu.png https://pic8.co/sh/0Cuj17.png https://twitter.com/jollyswap

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[–] • 0 pt

I didn't buy in.

I'm just trying to understand how it works.

I think I understand how it works, but I'd prefer to hear it from someone else's point of view.

The company that is generating these heists all over the place is also involved in some other schemes.

One, is "Pyramid City", where they advertised they were buying land and building pyramid mausoleums on it. They collected tons of money but never did anything else.

And, they seem to be paying journalists to promote their nonsense.

Where it gets interesting is their CCP ties via a Chinese national in Singapore. They seem to be doing their coding at his behest, where he is in charge of marketing tons of other scams.

https://twitter.com/Teefinha97

He has tons of bot marketing that is ongoing.

Mainly, I'm trying to determine how far the rabbit hole goes.

But, it is refreshing to hear other points of view to understand it from a new perspective.

[–] • 1 pt

Well in general the scams go something like: 1. Get a bunch of suckers to buy the tokens, through "marketing" 2. Siphon off all the money via liquidity 3. Token value goes down 99% 4. Profit

For anyone who bought it, write it off as a complete loss. There is nothing you can do, sucker.

[–] • 0 pt
  1. Siphon off all the money via liquidity

Can you explain this step?

[–] • 1 pt

A rug pull – AKA a “hard rug” – is a malicious manoeuvre where the developers of a project drain their liquidity pools in order to take profits at the expense of the investors. Investors will usually be left with a worthless token or even completely empty-handed if they were farming a non-native token pool that was drained.

Soft rugs are harder to identify than a regular rug pull. They often happen after a solid form of trust has been built between the developers and the investors: liquidity pools have a timelock or the developers send their LP tokens to a burn address. Typically, the developers have a large amount of tokens in different wallets that they can sell for a profit after the price increases, resulting in major losses for investors.

Rug pulls are not to be confused with exploits (where an external entity takes advantage of a loophole to steal value from a project) and failfarms or failtokens (where a project simply fails to gain or retain value for non-malicious reasons).