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- The deployer of FrensTech has denied rug-pulling the mission after allegations by the group.
- On-chain specialists just lately accused the deployer of rugging the mission by eradicating liquidity.
- The mission’s deployer is reportedly an early worker of main DeFi change Uniswap.
The developer behind the memecoin FRENS has been accused of pulling the rug from beneath the mission after he eliminated a number of thousand {dollars} price of liquidity from the crypto mission. The deployer, whose identification was revealed by the crypto group on X (previously Twitter) earlier right this moment, is reportedly an early worker of the favored decentralized crypto change Uniswap.
An on-chain knowledgeable who goes by UniswapVillain on X took to the social networking platform earlier right this moment to report that the deployer of FrensTech had rugged the mission. FrensTech, which was deployed lower than 24 hours in the past, was rugged by its deployer AzFlin lower than 12 hours in the past. The deployer moved 14 ETH ($25,800) from the newly launched Base community utilizing a multi-chain bridge referred to as HOP.
Information from Etherscan confirmed that AzFlin had transferred 14 wETH off the mission. “He eliminated liquidity he added from charges and pocketed 14 ETH of charges. He offered the tokens he faraway from liquidity even,” the on-chain knowledgeable advised his followers. The deployer reportedly took a temperature examine on X earlier than the rug pull, the place he requested the crypto group if crew members of a mission promoting cash can be thought of a rug.
AzFlin took to X to reply to the group’s complaints after allegations of a rug pull began pouring in. He acknowledged that he was the developer and deployer of the FRENS token, however denied pulling the rug. In keeping with him, liquidity within the mission was locked from the start and added that he had solely eliminated 1 ETH price of liquidity which he claimed to have supplied with funds from his developer pockets.
The deployer acknowledged that he offered FRENS tokens as soon as its market capitalization reached $30,000 however defended his actions by claiming that the offered tokens had been initially bought by him to induce liquidity into the mission. In keeping with him, the allegations of a rug pull had been nothing however FUD.