The trader who made a million dollars in PANDORA caught on a rug-pull in another ERC-404 token

The trader who made 1.1 million dollars in two days with PANDORA, one of the most talked-about ERC-404 tokens of recent times, lost his money in another token of the same standard. The trader was fortunate that he did not invest all of his money in Pandora here.

The trader who made a million dollars in PANDORA caught on a rug-pull in another ERC-404 token

This time, a trader lost all of his money due to a rug-pull in the ERC-404 tokens, which are still in the experimental stage and are the focus of many discussions about their future viability.

He won at PANDORA, but…

In just two days, the same investor made over $1 million by purchasing PANDORA, another ERC-404 token, for $600. This time, the trader noticed an opportunity in the freshly listed ERC-404 token, NO, but it ended unexpectedly.

$113 thousand for transaction fees

The trader bought 30 units of the NO token and an NFT. As it is known, tokens in the ERC-404 are seen as a combination of ERC-20 and ERC-721. Therefore, tokens can have both NFT and ERC-20 token features. This trader gave approximately $230 for his purchases, but he also had to pay a transaction fee of 42.88 ETH.

Maybe the investor thought he would make millions of dollars again, but his plan ended just when he took the chance to pay such a big transaction fee for this token. The project owners withdrew NO, which had a trap in its contract, from the wallet. As a result, the trader’s money was lost. It was observed that the thieves tried to pull off this scam for just $230. Rug-pull scams usually happen for a few thousand dollars or more, particularly in the cryptocurrency industry.

Leave a Comment