SudoRare Disappears with Users’ ETH

23.08.2022 09:26
by Srđan Jovanović
1 min read

In what is most likely a rug pull as part of a con, the AMM protocol SudoRare has disappeared from the web with users’ 519 ETH (equaling some $815,000) in its pockets.

SudoRare has presented itself as a legitimate automated maker protocol for swaps between ERC-721 and ERC-20 token standards. Now, 519 ETH was drained off SudoRare in a transaction involving LOOKS and USDC tokens.

Following the transaction, SudoRare has shut down its services, main website, and social media accounts. According to the blockchain investigating company, Peckshield, this points in the direction of a small-scale rug pull.

While no additional info is currently available, investigations into the SudoRare case are underway.

Author

  • Long-time editor, crypto enthusiast, and all for free trade. Also a social scientist, musician, and a thorough-going liberal. Wrapped up a degree in linguistics, an MA in politics, and a PhD in history. Six postdocs afterwards. Speaks English, Serbian, Czech, and Swedish, communicative in German, Russian, Polish, Italian, Slovak, Norwegian, and even some Mandarin. Cryptocurrencies are the future.

Trending news

Subscribe and be in touch
Click here