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YODA coin rug pulled and lost 100% of its value on May 5, as crypto sleuth PeckShieldAlert revealed.
The project <a href="https://twitter.com/yodacoineth_">deleted</a> its Twitter account, and the scammer already transferred over 68 Ethereum (ETH), according to PeckShieldAlert&#8217;s <a href="https://twitter.com/PeckShieldAlert/status/1654401742107443201?t=m84ItxtlIcoGJmD3FpU-Pg&amp;s=19">tweet</a>.
<h2 id="the-rug-pull">The rug pull</h2>
Avid crypto collector @borovik.eth was one of the first ones to realize the pull. He tweeted a screenshot of Yoda Coin&#8217;s official account, which was inaccessible.
<figure id="attachment_322977" aria-describedby="caption-attachment-322977" style="width: 606px" class="wp-caption aligncenter"><img class=" wp-image-322977" src="https://cryptoslate.com/wp-content/uploads/2023/05/Screenshot-2023-05-05-at-12.41.01.png" alt="Source: borovik.eth" width="606" height="608" srcset="https://cryptoslate.com/wp-content/uploads/2023/05/Screenshot-2023-05-05-at-12.41.01.png 1166w, https://cryptoslate.com/wp-content/uploads/2023/05/Screenshot-2023-05-05-at-12.41.01-300x300.png 300w, https://cryptoslate.com/wp-content/uploads/2023/05/Screenshot-2023-05-05-at-12.41.01-1020x1024.png 1020w, https://cryptoslate.com/wp-content/uploads/2023/05/Screenshot-2023-05-05-at-12.41.01-150x150.png 150w, https://cryptoslate.com/wp-content/uploads/2023/05/Screenshot-2023-05-05-at-12.41.01-768x771.png 768w" sizes="(max-width: 606px) 100vw, 606px" /><figcaption id="caption-attachment-322977" class="wp-caption-text">Source: <a href="https://twitter.com/3orovik/status/1654181684315672580">borovik.eth</a></figcaption></figure>
Crypto Twitter then provided additional information about the suspended addresses in the comments. On-chain sleuth ZachXBT <a href="https://twitter.com/zachxbt/status/1654185039788232711">shared</a> that the YodaCoin team also deactivated nine bot accounts with gold checkmarks.
PeckShieldAlert monitored the scammers&#8217; wallet <a href="https://etherscan.io/txs?a=0xacab5cc36f86cb9bed08d7b33a2aa69acee6a1c8&amp;p=1">movements</a> and discovered that they moved over 68 ETH to the FixedFloat exchange. The amount equates to over $129,000 in ETH at the time of writing.
<figure id="attachment_322978" aria-describedby="caption-attachment-322978" style="width: 2560px" class="wp-caption aligncenter"><img class="size-full wp-image-322978" src="https://cryptoslate.com/wp-content/uploads/2023/05/Source-scaled.jpeg" alt="Source: PeckShieldAlert" width="2560" height="947" srcset="https://cryptoslate.com/wp-content/uploads/2023/05/Source-scaled.jpeg 2560w, https://cryptoslate.com/wp-content/uploads/2023/05/Source-300x111.jpeg 300w, https://cryptoslate.com/wp-content/uploads/2023/05/Source-1024x379.jpeg 1024w, https://cryptoslate.com/wp-content/uploads/2023/05/Source-768x284.jpeg 768w, https://cryptoslate.com/wp-content/uploads/2023/05/Source-1536x568.jpeg 1536w, https://cryptoslate.com/wp-content/uploads/2023/05/Source-2048x758.jpeg 2048w" sizes="(max-width: 2560px) 100vw, 2560px" /><figcaption id="caption-attachment-322978" class="wp-caption-text">Source: PeckShieldAlert</figcaption></figure>
<h2 id="memecoin-season">Memecoin season</h2>
Even though the crypto community&#8217;s thoughts on memecoins may vary, recent data revealed that they are, in fact, quite resilient. A CryptoSlate <a href="https://cryptoslate.com/from-joke-to-investment-the-surprising-resilience-of-memecoins-in-crypto/">insight</a> from April stated that memecoins:
<blockquote>&#8220;Continue to defy expectations by thriving in the bear market, outperforming other cryptocurrencies and expanding their utility, attracting retail investors and newcomers to the crypto world.&#8221;</blockquote>
Popular memecoins like Dogecoin (<a href="https://cryptoslate.com/coins/dogecoin/">DOGE</a>) and Shiba Inu (<a href="https://cryptoslate.com/coins/shiba-inu/">SHIB</a>) have <a href="https://cryptoslate.com/dogecoin-spikes-6-following-twitters-new-move/">proven</a> themselves to be quite profitable in the past. While their volatility has become mainstream, other memecoins have been surprising investors lately.
Most recently, memecoin PEPE (<a href="https://cryptoslate.com/coins/pepe/">PEPE</a>) attracted the eyes of the crypto community when it <a href="https://cryptoslate.com/pepe-pumps-80-now-third-largest-meme-coin-by-market-cap/">soared</a> over 90% within 24 hours on May 1. At the time of writing, PEPE continues its surge. The token recorded a 59.38% increase in the last 24 hours and a nearly 700% increase over the previous seven days.
A few days later, the <a href="https://cryptoslate.com/chatgpt-created-turbo-memecoin-crosses-50m-marketcap/">Turbo</a> memecoin, created by ChatGPT, reached over a $30 million market cap within a week of its launch. Several crypto exchanges have also listed Turbo tokens as a tradable asset.
According to CryptoSlate <a href="https://cryptoslate.com/cryptos/meme/">data</a>, the memecoin market has 1.49% sector dominance with over a $17 billion market cap. The sector&#8217;s 24-hour volume sits at over $1.49 billion.
The post <a rel="nofollow" href="https://cryptoslate.com/yoda-coins-sudden-collapse-how-investors-lost-over-129k-in-ethereum-to-a-rug-pull-scam/">Yoda coin&#8217;s sudden collapse: how investors lost over $129K in Ethereum to a rug pull scam</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.

Yoda coin’s sudden collapse: how investors lost over $129K in Ethereum to a rug pull scam

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