{"id":207073,"date":"2021-03-20T18:05:59","date_gmt":"2021-03-20T15:05:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-smart-chains-turtledex-rugpulls-shortly-after-launch\/"},"modified":"2021-03-20T18:05:59","modified_gmt":"2021-03-20T15:05:59","slug":"binance-smart-chains-turtledex-rugpulls-shortly-after-launch","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-smart-chains-turtledex-rugpulls-shortly-after-launch\/","title":{"rendered":"# Binance Smart Chain\u2019s TurtleDex rugpulls shortly after launch"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a25717a44fba\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a25717a44fba\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/binance-smart-chains-turtledex-rugpulls-shortly-after-launch\/#%E2%80%9CChasing_funds_back%E2%80%9D\" >\u201cChasing funds back\u201d<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Binance Smart Chain\u2019s TurtleDex rugpulls shortly after launch <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvYWNhYjQwMTItYjYxOS00NzA4LTgzMzgtZGFmNWE3NDE4ZmYxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Turns out a turtle\u2019s arms are plenty long enough to pull a rug.\u00a0<\/p>\n<p>Yesterday, March 19 Binance Smart Chain (BSC) file storage project TurtleDex performed a \u201crugpull\u201d exit scam \u2014 a colloquial term for when a project\u2019s developers drain the liquidity or stored funds invested by the protocol. <\/p>\n<p>Coming off a March 15 presale round that raised 9000 BNB tokens worth nearly $2.5 million, the team drained those funds from trading pools on BSC-native decentralized exchanges Pancake Swap and Ape Swap, converted the liquidity to ETH, and sent the funds to Binance exchange wallets to be sold, according to TurtleDex team wallet <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bscscan.com\/address\/0x473998a6efeb8c676d369e105afb6cc73a0fadbc#tokentxns\">transactions<\/a>. <\/p>\n<p>Jet Fuel Finance, a yield vault protocol which had partnered with TurtleDex on a farming initiative, confirmed the rugpull on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>, saying they were \u201cshocked\u201d by the scam:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Attention &#8211; The Turtledex (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/TTDX?src=hash&amp;ref_src=twsrc%5Etfw\">#TTDX<\/a>) team has exit scammed.<\/p>\n<p>We are just as shocked as everyone to see this unfold. <\/p>\n<p>Please see the tweet below from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DefiStalker?ref_src=twsrc%5Etfw\">@DefiStalker<\/a> and help us track down the funds sent to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\">@binance<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/TTDX?src=hash&amp;ref_src=twsrc%5Etfw\">#TTDX<\/a> is being removed from Jetfuel. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ZUjRmPbrs2\">https:\/\/t.co\/ZUjRmPbrs2<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/3WvsYSWATg\">https:\/\/t.co\/3WvsYSWATg<\/a><\/p>\n<p>\u2014 Jet Fuel BSC \u2708\ufe0f (@Jetfuelfinance) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Jetfuelfinance\/status\/1372927328121188356?ref_src=twsrc%5Etfw\">March 19, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>The TurtleDex website has gone dark and social channels have been deleted.\u00a0<\/p>\n<p>Some investors pointed out that the project had previously been audited and no severe security issues were identified, prompting a renewed round of criticism about the efficacy of audits. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/TurtleDex?src=hash&amp;ref_src=twsrc%5Etfw\">#TurtleDex<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24TTDX&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$TTDX<\/a> s\/contract was audited by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TechRate1?ref_src=twsrc%5Etfw\">@TechRate1<\/a> on 21st of FEB, 2021. Whilst no big issues were found, it asks the question, what is the purpose of a s\/contract audit? If developers can simply pull liquidty to dump, are we even asking the right Questions?<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BNB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BNB<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BANANA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BANANA<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24FUEL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$FUEL<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/L8rxtwpnYo\">pic.twitter.com\/L8rxtwpnYo<\/a><\/p>\n<p>\u2014 DeFi Stalker (@DefiStalker) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DefiStalker\/status\/1373067023173885956?ref_src=twsrc%5Etfw\">March 20, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Ironically, according to screenshots prospective investors had asked the team about the possibility of a rugpull in official channels; the team responded jokingly by saying that it would be impossible, as a turtle\u2019s arms are too short.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">hello, sir pls help, I am under the water <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cz_binance?ref_src=twsrc%5Etfw\">@cz_binance<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\">@binance<\/a>  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ttdx&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ttdx<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ORnpMoFFuw\">pic.twitter.com\/ORnpMoFFuw<\/a><\/p>\n<p>\u2014 Danusarf (@Danusarf) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Danusarf\/status\/1372916194101981185?ref_src=twsrc%5Etfw\">March 19, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3><span class=\"ez-toc-section\" id=\"%E2%80%9CChasing_funds_back%E2%80%9D\"><\/span>\u201cChasing funds back\u201d<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Despite the loss, there may be hope for jilted TurtleDex investors.\u00a0<\/p>\n<p>Shortly after the Meerkat Finance rugpull \u2014 one of the largest-ever DeFi scams at $31 million \u2014 a developer for the project announced that the scam was an \u201cexperiment,\u201d and that all funds would be returned to users. <\/p>\n<p>The flimsy \u201cexperiment\u201d backing and abrupt about-face prompted some speculation that Binance may have stepped in to mitigate the effects of the scam. BSC is a semi-closed system, with Binance controlling on-and-offramps to the ecosystem; rugpulled funds have few ways to exit BSC without passing Binance\u2019s centralized control. <\/p>\n<p>Binance CEO Changpeng Zhao \u2014 better known as CZ \u2014 noted on Twitter earlier in the week that the exchange had helped in \u201cchasing funds back\u201d when other rugpulled projects attempted to sell funds via Binance. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Most welcome. We actually help with a few rug pulls recently too. Can&#8217;t disclose details yet. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/2zybpF0Yv7\">https:\/\/t.co\/2zybpF0Yv7<\/a><\/p>\n<p>\u2014 CZ  Binance (@cz_binance) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cz_binance\/status\/1371866125449891842?ref_src=twsrc%5Etfw\">March 16, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/binance-smart-chain-s-turtledex-rugpulls-shortly-after-launch\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Binance Smart Chain\u2019s TurtleDex rugpulls shortly after launch &#8221; Turns out a turtle\u2019s arms are plenty long enough to pull a rug.\u00a0 Yesterday, March 19 Binance Smart Chain (BSC) file storage project TurtleDex performed a \u201crugpull\u201d exit scam \u2014 a colloquial term for when a project\u2019s developers drain the liquidity or stored funds invested&#8230;<\/p>\n","protected":false},"author":1,"featured_media":207074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvYWNhYjQwMTItYjYxOS00NzA4LTgzMzgtZGFmNWE3NDE4ZmYxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,75166,74894,71101],"class_list":["post-207073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-binance-coin","tag-blockchain","tag-scams"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/207073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=207073"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/207073\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/207074"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=207073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=207073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=207073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}