A crypto mission called Safereum is the most modern to provide a rug pull on users, making off with around $1.3 million price of funds, in response to blockchain security experts.

In a Monday alert on X, blockchain security company CertiK notified users that Safereum had performed an exit scam after unlocking the token provide and promoting extra than 600 ETH price of holdings. Rapidly after, the payment of the native SAF token plummeted 94%.

CertiK also favorite that the stolen funds had already been deposited across multiple wallets. Safereum’s legitimate X story has also been deleted, strongly suggesting that the team’s developers had been gradual the occasion.

A rug pull or exit scam happens when the creators of a mission all straight away drain liquidity, truly stealing funds from users who deposited tokens on their platform.

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Safereum modified into launched earlier this month on the Ethereum blockchain, and modified into largely marketed as a meme-based completely cryptocurrency with “assured security.” In a press launch issued at the time of its launch, the team claimed that the mission’s easy contracts had been audited by 5 pretty masses of corporations.

The mission modified into promoted by so-called crypto influencers on X, which doubtless encouraged unsuspecting users to deposit their funds with the platform. This kind of users promoting the mission modified into “@Shiaholic_ETH,” who now stands accused of funding the developer wallet gradual the mission.