The Perpetual Rug Safemoon issues another update that they are continuing forward. They claim to be replacing old project wallets, leaving LP intact. And of course, users may be unable to access funds during the “update”.
| |
Yesterday, what was left of the Safemoon team issued another "update". They previously claimed to be taking the arrest of the execs seriously but plan to continue the project. In this update, they give more details about how they plan to "progress". Of course, we here know there's no progress to be made; that the project was a dead and a rug from the start and much more so such that the execs were arrested and have both civil charges from the SEC and criminals charges from the government. Regardless, the "update" gives details that they are replacing the old project wallets which includes the Safemoon deployer wallet while the LP stays intact. This by itself raises a lot of questions as it's quite possible that the team no longer has access to much of what's left in the project wallets. Replacing the deployer would likely involve having to create a whole new token, but this is nothing as SafeMoon had already created their V2 wallet to fleece "investors" into believing their progress in the project and make embezzlement more easy. So V3 it is I suppose. They almost definitely have no access to the LP which is why it's left intact. The strangest part of all is that these funds are liable to be seized by courts during the judicial proceedings involving the execs and on top of that's it's stupid to involve yourself in that now criminal case. Then there's the fact users funds may be inaccessible during the update. Considering the whole "Orbital Shield" that uses username and password and previous exploits in the software it's very possible for users' funds to be drained. We may just see yet another "hack". submitted by /u/After_Sock_3550 |
