SAFEREUM Worth Plummets Extra Than 95% After $1.2 Million Rug Pull

• ZachXBT shared that SAFEREUM was rug-pulled with greater than 730 ETH.
• One of many foremost promoters of the rip-off was cryptocurrency influencer ‘SlumDOGE Millionaire.
• At press time, SAFEREUM was value $0.0000007193 after its value plummeted by over 95% prior to now day.

The previous 24 hours have been quite gloomy for Safereum (SAFEREUM) traders after a seeming rug pull. ZachXBT, a “rug pull survivor” turned detective, shared in an X publish yesterday that SAFEREUM was rug pulled with 730+ Ethereum (ETH), value roughly $1.2 million.

ZachXBT additionally revealed in his publish that the cryptocurrency influencer ‘ProTheDoge’ often known as “SlumDOGE Millionaire,” was one of many huge gamers selling the rip-off. The influencer is reportedly infamous for selling rug pull tokens much like SAFEREUM.

In a few of his X posts from earlier this 12 months, SlumDOGE Millionaire defined that he’s extraordinarily bullish on SAFEREUM. He additionally highlighted the very fact that there have been allegedly 5 audits carried out on the venture.

Moreover, simply two days in the past, the influencer said that he’s “actually pleased with the SAFEREUM workforce” for managing to get the token to bounce again to a brand new all-time excessive market capitalization very shortly after hitting a $3 million low. The X consumer made positive to level out that the venture achieved this throughout a bear market.

SAFEREUM is a decentralized meme token launched on the Ethereum blockchain. The truth that the cryptocurrency was listed on Tier 1 exchanges together with Gate.io cultivated a way of belief within the venture from merchants and traders.

In distinction to the vast majority of cryptocurrencies, this venture doesn’t depend on blockchain know-how. As a substitute, its provide is overseen and managed by way of good contracts in Ethereum’s inside blockchain. The platform doesn’t apply taxes on shopping for, promoting, or changing SAFEREUM tokens, which doubtless created very engaging situations for merchants.

CoinMarketCap indicated that, at press time, SAFEREUM was buying and selling fingers at $0.0000007193. This got here after the token’s value plunged by greater than 95% all through the previous 24 hours of buying and selling. The token reached its ATH value of $0.0000182 on 21 October 2023.