Token

Islamic Coin

Zero

<a href="https://bitcoinworld.co.in/breaking-ordex-token-falls-to-zero-in-swift-rug-pull-scheme/" title="BREAKING: ORDEX Token Falls To Zero In Swift Rug Pull Scheme" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400;">ORDEX token value plummeted to zero in under an hour due to a rug pull scheme, causing a loss of over $70,000.</li> 
 <li style="font-weight: 400;">Fraudsters have previously exploited similar schemes, like the fake GEMINI token rug pull, stealing significant funds.</li> 
 <li style="font-weight: 400;">Traders should verify ticker symbols on decentralized exchanges and be wary of low market capitalization tokens.</li> 
</ul> 
The Ordinal DEX (ORDEX) token <a href="https://coinstats.app/coins/0x797885c0a6cfffcbc4d2e3c1ca0b4f07112db6a3_ethereum/">dropped</a> to 0 in less than one hour as the team conducted a rug pull. 
<figure id="attachment_58900" aria-describedby="caption-attachment-58900" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-58900" src="https://bitcoinworld.co.in/wp-content/uploads/ORDEX-Price-Chart-483x300.png" alt="" width="560" height="348" srcset="https://bitcoinworld.co.in/wp-content/uploads/ORDEX-Price-Chart-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/ORDEX-Price-Chart.png 760w" sizes="(max-width: 560px) 100vw, 560px">
 <figcaption id="caption-attachment-58900" class="wp-caption-text">
 ORDEX Price Chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
Ordinals have been the center of attention amongst the crypto community in 2023.&nbsp; 
However, every new narrative also motivates fraudsters to create fraud tokens and scam unaware investors. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/the-price-of-solana-sol-up-more-than-4-in-24-hours/" aria-label="“The Price Of Solana (SOL) Up More Than 4% In 24 Hours” (Edit)">The Price Of Solana (SOL) Up More Than 4% In 24 Hours</a> 
<h3 id="span-style-font-weight-400-ordex-rug-pull-more-than-70-000-lost-span">ORDEX Rug Pull: More Than $70,000 Lost</h3> 
According to <a href="https://twitter.com/peckshieldalert/status/1739153975692361908">PeckShield</a>, an address that starts with 0xea81 swapped one quadrillion ORDEX tokens for 30.96 Ethereum (ETH) worth approximately $70,600.&nbsp; 
Hence, the token dropped to 0 in less than one hour on Uniswap. PeckShield informed its viewers: 
“The #rugpull token shares the same name as the legitimate ones” 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw">#PeckShieldAlert</a> Ordinal Dex <a href="https://twitter.com/search?q=%24ORDEX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ORDEX</a> has dropped -100% The address 0xea81…9e31 has swapped 1,000,000,000,000,000 <a href="https://twitter.com/search?q=%24ORDEX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ORDEX</a> for 30.96 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> (~$70.6K) *Note*: The <a href="https://twitter.com/hashtag/rugpull?src=hash&amp;ref_src=twsrc%5Etfw">#rugpull</a> token shares the same name as the legitimate ones <a href="https://t.co/wmyYtffWAH">pic.twitter.com/wmyYtffWAH</a> 
 — PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1739153975692361908?ref_src=twsrc%5Etfw">December 25, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Previously, a similar incident happened with a fake GEMINI token on December 7.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw">#PeckShieldAlert</a> <a href="https://twitter.com/hashtag/slippage?src=hash&amp;ref_src=twsrc%5Etfw">#slippage</a> Gemini Ai <a href="https://twitter.com/search?q=%24Gemini&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Gemini</a> has dropped -99.58% The address 0x6Caa…3129 has swapped 4,248,342,655,043,365.9 <a href="https://twitter.com/search?q=%24GEMINI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GEMINI</a> for 133.97 <a href="https://twitter.com/search?q=%24WETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WETH</a> (~$299.7K) *Note*: The <a href="https://twitter.com/hashtag/rugpull?src=hash&amp;ref_src=twsrc%5Etfw">#rugpull</a> token may share the same name as the legitimate ones <a href="https://t.co/ST60nxpWYI">pic.twitter.com/ST60nxpWYI</a> 
 — PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1732735122452201617?ref_src=twsrc%5Etfw">December 7, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
PeckShield mentioned that the bad actors converted 4.2 quadrillion GEMINI tokens to 133.97 Wrapped Ethereum (WETH) and conducted a rug pull. 
Sometimes, the scammers may use tickers that spell similar to that of the legitimate project. 
For example, an imposter project of the Islamic Coin (ISLM) with the ticker – ISLAMIC was trading on the BNB chain. Then, on October 11, the scammers dumped one quadrillion ISLAMIC, stealing over $150,000. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/curve-finance-to-refund-affected-users-in-july-hack-exploit/" aria-label="“Curve Finance To Refund Affected Users In July Hack Exploit” (Edit)">Curve Finance To Refund Affected Users In July Hack Exploit</a> 
While using decentralized exchanges, traders should cross-verify if they are trading the coins with the correct ticker symbols.&nbsp; 
Furthermore, certain crypto data aggregator tools may give detailed information on where a specific crypto token is listed. 
Moreover, tokens with extremely low market capitalization have a high probability of a rug pull. Prices of such tokens can be easily manipulated, and they are also subject to higher volatility. 
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote> 
The post <a href="https://bitcoinworld.co.in/breaking-ordex-token-falls-to-zero-in-swift-rug-pull-scheme/">BREAKING: ORDEX Token Falls To Zero In Swift Rug Pull Scheme</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

BREAKING: ORDEX Token Falls To Zero In Swift Rug Pull Scheme

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