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Zackxbt Reveals Details in a $1.7M Rug Pull Involving Project Shura

Fri, 22 Apr 2022 10:01:38 +0000

Project Shura NFT Rug Pull

The developers behind Project Shura disappeared shortly after they made $1.7 million from their collection, leaving investors hanging high and dry.

Project Shura is an anime-inspired project that popped up after the majorly successful launch of Azuki. Shura launched their 5,500 piece collection in January at a minting price of 0.09 ETH. In their roadmap, like similar projects, they promised merch, manga series, tokens and more. For marketing purposes, they even partnered with popular YouTuber, JRNY.

Once the minting was successfully completed, the anonymous team of developers started to act distant, and eventually they disappeared in February. After a month, on March 16th, the team reappeared and claimed they took a break.

They stated they would continue to work on further developments. But before doing that, they boldly said they would need to delete all channels due to “FUD”. Since then, there have been zero updates on the project, leaving the investors with a floor price nearly at zero.

Onchain detective Zackxbt started tracking down how the 495 ETH in earnings was distributed. He made a discovery of four wallets that shared the funds and transferred them directly into central exchanges. Fortuitously, one of the four wallets turned out to be a public wallet.

The wallet received 133 ETH and belongs to the pseudonymous 0x6a known on Twitter as RoySaito.ETH. He then used the earnings to flip Azuki NFTs and in the meantime Roy has launched a new NFT project called Shounen.

Zackxbt was able to reveal who was behind the wallet 0x6a and connect it to Roy’s Twitter. When he bought Azuki #6541, a Twitter bot posted about it and included his OpenSea name. Let’s hope that with this information at hand, buyers will now be more cautious!

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

The post Zackxbt Reveals Details in a $1.7M Rug Pull Involving Project Shura appeared first on NFT Plazas.

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