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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 \u201cshitcoin\u201d called Mango Inu, again claiming he \u201cdid nothing wrong.\u201d<\/p>\n
Eisenberg recently ousted himself as one of the persons behind the recent $117 million exploit<\/a> of the Solana-based decentralized finance (DeFi)<\/a> platform Mango Markets, which he has also claimed was \u201clegal.\u201d\u00a0<\/p>\n \u00a0In an Oct. 23 post on Twitter, Eisenberg said the scheme involved deploying a \u201cshitcoin\u201d named Mango Inu, which he suggests was aimed at \u201cexploiting bots\u201d that gobble up newly launched tokens. <\/p>\n Eisenberg said the strategy involved deploying tokens, adding liquidity and then \u201crug\u201d right after the bots buy the token.\u00a0<\/p>\n \u201cTalked 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,\u201d he said.<\/p>\n Much like the Mango Markets exploit, when people on Twitter questioned the morality and legality of the whole ordeal, Eisenberg argued that he hadn\u2019t broken any laws, as there was no promotion of the token:\u00a0<\/p>\n \u201cWhat part? Mango Inu is definitely not a security (no marketing, etc), no promises were made, just open market liquidity transactions.\u201d<\/p><\/blockquote>\n Eisenberg said the token managed to get over $250,000 \u201cinvested\/gambled\u201d within half an hour with \u201cabsolutely no promotion,\u201d and that the fact that it occurred meant that \u201cwe\u2019re still so far away from the bottom.\u201d<\/p>\n He also explicitly warned not to buy the token, as \u201cif you buy this you will definitely lose all your money.\u201d<\/p>\n The 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. <\/p>\n We’re still so far away from the bottom.<\/p>\n (to be clear if you buy this you will definitely lose all your money)<\/p>\n \u2014 Avraham Eisenberg (@avi_eisen) October 23, 2022<\/a><\/p><\/blockquote>\n The Mango Inu token is another example of a token that has gained questionable market takeup recently despite not having any utility \u2014 a symptom usually associated with bull markets. <\/p>\n Earlier this month, a memecoin named THE token was created<\/a> in response to a satirical Oct. 14 Twitter post from Ethereum co-founder Vitalik Buterin, calling for the creation of an easily shillable project called The Protocol.<\/p>\n THE was subsequently launched on Ethereum and the BNB Smart Chain right after Buterin\u2019s 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. <\/p>\n Related: <\/em><\/strong>3Commas issues security alert as FTX deletes API keys following hack<\/em><\/strong><\/a><\/p>\n 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. <\/p>\n Blockchain cybersecurity firm PeckShield has urged caution with this token. <\/p>\n #PeckShieldAlert<\/a> #THEProtocol<\/a> PeckShield has detected ~25 $THE<\/a> are newly created on both Ethereum and BSC \u2014 PeckShieldAlert (@PeckShieldAlert) October 18, 2022<\/a><\/p><\/blockquote>\n<\/div>\n\n
Pointless tokens continue to arise<\/h3>\n
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6 out of 25 of these $THE<\/a> appear to be #honeypot<\/a> 0x0cbA6 distributed 100M $THE<\/a> to address Vb (Vitalik)
0x716Fb distributed 6.4M $THE<\/a> to address vitalik.eth
Be Cautious! pic.twitter.com\/nGNhR8kuj7<\/a><\/p>\n