Avraham Eisenberg is at it again, following up his exploit of Mango
Markets by deploying a new 'shitcoin' named Mango Inu to purportedly
swipe liquidity from bot traders.
In just over a week after pulling off the $117 million exploit of
Mango Markets, Avraham Eisenberg is now boasting about making $100,000
rug-pulling a “shitcoin” called Mango Inu, again claiming he "did
nothing wrong."
Eisenberg recently ousted himself as one of the
persons behind the recent $117 million exploit of the Solana-based
decentralized finance (DeFi) platform Mango Markets, which he has also claimed was "legal."
In
an Oct. 23 post on Twitter, Eisenberg said the scheme involved
deploying a “shitcoin" named Mango Inu, which he suggests was aimed at
"exploiting bots" that gobble up newly launched tokens.
Eisenberg said the strategy involved deploying tokens, adding liquidity, and then "rug" right after the bots buy the token.
“Talked
to someone who would deploy coins, add liquidity, and rug right after
the bots bought, was a good low capacity strat last year when the bots
bought anything that moved,” he said.
Much like the Mango Markets
exploit, when people on Twitter questioned the morality and legality of
the whole ordeal, Eisenberg argued that he hadn’t broken any laws as
there was no promotion of the token:
“What part? Mango
Inu is definitely not a security (no marketing, etc), no promises were
made, just open market liquidity transactions.”
Eisenberg
said the token managed to get over $250,000 “invested/gambled” within
half an hour with "absolutely no promotion," and that the fact that it
occurred meant that "we're still so far away from the bottom."
He also explicitly warned not to buy the token, as "if you buy this you will definitely lose all your money.”
The
— Avraham Eisenberg (@avi_eisen) October 23, 2022
other day I deployed a shitcoin called Mango Inu and did absolutely no
promotion. It got over 250k invested/gambled in like a half hour.
We're still so far away from the bottom.
(to be clear if you buy this you will definitely lose all your money)
Pointless tokens continue to arise
The Mango Inu token is
another example of a token that has gained questionable market takeup
recently despite not having any utility — a symptom usually associated
with bull markets.
Earlier this month, a memecoin named “THE” token was created in response to a satirical Oct. 14 Twitter post from Ethereum co-founder Vitalik Buterin calling for the creation of an easily shilible project called “The Protocol.”
THE
was subsequently launched on Ethereum and the Binance Smart Chain right
after Buterin’s tweet, and pumped 77% by Oct. 20, though it has since
dropped back down 60% to sit at $0.015 at the time of writing.
Related: 3Commas issues security alert as FTX deletes API keys following hack
The
token, which was listed on exchanges such as Uniswap (V3), MEXC Global
and Bitget, appears to serve no other function than the actualization of
a joke made by Vitalik to foster wild speculation.
Blockchain cybersecurity firm PeckShield has urged caution with this token.
#PeckShieldAlert #THEProtocol PeckShield has detected ~25 $THE are newly created on both Ethereum and BSC
— PeckShieldAlert (@PeckShieldAlert) October 18, 2022
6 out of 25 of these $THE appear to be #honeypot 0x0cbA6 distributed 100M $THE to address Vb (Vitalik)
0x716Fb distributed 6.4M $THE to address vitalik.eth
Be Cautious! pic.twitter.com/nGNhR8kuj7
source link : https://cointelegraph.com/news/mango-market-exploiter-brags-after-rug-pulling-mango-inu-shitcoin
