On 2022-07-15 09:50:19 EST, TIGER project’s liquidity was removed resulting in a > 50% slippage from a rugpull that happened in early June. The total loss from this rug is estimated at approximately $4.518M .
On June 2nd 2022, the TIGER token dropped over >50% when tokens started being sold over many days. The last sale transaction ended on June 22, 2022.The project rug pulled approximately $4.518M worth of assets or a total of about 64,171 TIGER tokens that were sold across three accounts. The TIGER traffic platform is the first public chain platform of DAO mechanism developed by the international DAO organization in the form of donations to support the global technical team.It aims to protect wild animals and protect the ecological environment. TIGER Forest King” is an application combination of Gamefi+NFT+DeFi+Forest. Players can simulate tree planting on the chain, harvest ecological rewards, and auction the game. A variety of NFT assets (plots, trees, wildlife, etc.) At the same time, users consume equivalent TIGERs according to their favorite tree species, cast tree NFTs, and name the NFT trees or animals they own to achieve social interaction. Users can also list and sell NFTs on the trading platform.
Initial token distribution:
Address 0xff4… ( Rugpull Address)
Lastly, the address 0xff4… removed the liquidity for 2.2M BSC-USD 0xc03… and transferred 10k tokens to address 0x2d6… That last address sold off a total of ~23,067 tokens after adding and removing liquidity.
Address 0xb52… 18M TIGER was transferred to address 0xe40… and stayed in the address 150K was transferred to address 0x26d… and stayed in the address. 18K was transferred to address 0x22b… and delivered to different addresses. 31K was transferred to address 0x50d… and delivered to different addresses. 2M was transferred to address 0x4ea… and stayed in the address.
For address 0xff4… : The address swapped TIGER tokens for a total of 2.8M BSC-USD, and added the swapped 2.6M BSC-USD of it as liquidity in the pool. Finally, it removed liquidity and sent 2.2M BSC-USD to 0x2b7…
The total amount of tokens sold off between the three addresses 0x15, 0xff49, and 0x2d6 are roughly 64,171 tokens, equating to a USD amount of approximately 4,517,455 USD. This is an accumulation of selling and removing liquidity profits.
This issue can be found as an initial token distribution and falls under a centralization risk. Initial token distributions such as this one can leave investors susceptible to rug pulls and sudden price drops. CertiK audits pick up on these vulnerabilities and can help people do their own research before investing into a token. You can check our Leaderboard on our website for more information on tokens that have been audited by us to help you DYOR.