An alert by leading blockchain security firm CertiK has revealed that Safereum developers have executed a $1.3 million rug pull.The crypto community suffered a major shock on 24 October as blockchain security analysts drew their attention to an “exit scam” at Safereum.
These illicit transactions occurred only hours after the team had finalized a fundraise of $597,000 for a derivative token, Safepad. CertiK remarked these funds constituted part of the total stolen sum, totaling 720 ETH worth $1.27 million.The news of the rug pull led to the project’s native token, SAFEREUM, plunging by 95% within the last 24 hours. It was trading at $0.000000654436 at the time of writing.
Blockchain sleuth ZachXBT underlined the role of a leading anonymous influencer on X who officially promoted the Safereum project. The user had promoted similar scam projects earlier as well.