{"id":4815,"date":"2022-01-14T15:07:04","date_gmt":"2022-01-14T15:07:04","guid":{"rendered":"http:\/\/egrowonline.com\/?p=4815"},"modified":"2022-01-14T15:07:04","modified_gmt":"2022-01-14T15:07:04","slug":"new-altcoin-drains-187k-in-ether-upon-launch","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=4815","title":{"rendered":"New altcoin drains $187K in ether upon launch"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Fees.wtf, a simple service that shows <a target=\"_blank\" href=\"https:\/\/www.banklesstimes.com\/cryptocurrency\/ethereum\/\" rel=\"noopener\">Ethereum<\/a> users their lifetime spend on mainnet transactions by measuring gas, released its token WTF early this morning. Users plug in their wallet address on the website to see how much gas they\u2019ve spent.<\/p>\n<p>In the airdrop, users were to claim WTF tokens and a \u201cRekt\u201d NFT, granting lifetime access to the premium version of the service. This cost 0.01 ETH, Coin Telegraph reported.<\/p>\n<h2>A wild start<\/h2>\n<p>The WTF token launch had a wild start. Reportedly, users lost thousands of dollars. A bot made away with 58 ETH, the equivalent of $187,000 at the time of writing.<\/p>\n<p><a><\/p>\n<div class=\"i-component i-component--lg i-fscb-table i-block i-border i-border-solid i-border-grey-100 i-leading-none i-mb-4 i-overflow-hidden\" data-int-component=\"table\" data-int-config=\"{&quot;variant&quot;:&quot;crypto-brokers&quot;,&quot;limit&quot;:&quot;1&quot;,&quot;orderBy&quot;:null,&quot;orderDir&quot;:null,&quot;filters&quot;:[]}\" data-int-table-total-positions=\"1\">\n<div class=\"i-fscb-table__row i-flex i-flex-wrap i-items-center i-py-2 i--mx-2\">\n<p>\t\t\t<!-- Rank --><\/p>\n<p>1<\/p>\n<p>\t\t\t<!-- Logo --><\/p>\n<div class=\"i-fscb-table__logo i-flex i-justify-center i-w-full i-px-2 i-mb-3\">\n\t\t\t\t<a target=\"_blank\" href=\"https:\/\/www.banklesstimes.com\/visit\/etoro?lt=crypto-brokers\" data-int-table-position=\"1\" class=\"i-block i-h-logo i-w-logo\" rel=\"nofollow noopener\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"image\/png;base64,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alt=\"eToro\" class=\"i-block i-w-full i-h-full i-object-cover\" \/><br \/>\n\t\t\t\t<\/a>\n\t\t\t<\/div>\n<div class=\"i-fscb-table__depositAndRating i-flex i-w-full i-justify-center i-px-2 i-mb-3\">\n\t\t\t\t<!-- Min Deposit --><\/p>\n<div class=\"i-px-2 i-text-center i-w-1\/2\">\n<p>Minimum Deposit<\/p>\n<p>\n\t\t\t\t\t\t<span data-int-currency-symbol=\"\">$<\/span>200\n\t\t\t\t\t<\/p>\n<p>Exclusive Promotion<\/p>\n<\/p><\/div>\n<p>\t\t\t\t<!-- Rating --><\/p><\/div>\n<p>\t\t\t<!-- Key Features --><\/p>\n<div class=\"i-fscb-table__keyFeatures i-text-sm i-w-key-features i-px-4 i-mb-1 i-ml-4\">\n<div class=\"i-flex i-items-start i-w-full i-leading-tight i-mb-2\">\n<p>More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities<\/p>\n<\/p><\/div>\n<div class=\"i-flex i-items-start i-w-full i-leading-tight i-mb-2\">\n<p>Buy crypto, or trade cryptocurrencies via CFDs<\/p>\n<\/p><\/div><\/div>\n<p>\t\t\t<!-- CTA --><\/p><\/div>\n<p>\n\t\t\t\tThis ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) &amp; USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections &amp; not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.\n\t\t\t<\/p>\n<\/p><\/div>\n<p><\/a><\/p>\n<p>Before the airdrop, fees.wtf announced that the initial launch would offer 100 million of WTF. Ideally, the circulating supply should have been the tokenomics\u2019 main attraction, but it didn\u2019t go as planned. <\/p>\n<p>After bots conducted frantic <a target=\"_blank\" href=\"https:\/\/www.banklesstimes.com\/cryptocurrency\/bitcoin\/trading\/\" rel=\"noopener\">trading<\/a> in the opening hours, one bot disappeared with the huge amount of funds.<\/p>\n<h2>The repercussions<\/h2>\n<p>Social networks became rife with complaints from airdrop participants who had lost thousands of dollars in ETH. The WTF team released a statement two hours after the airdrop:<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>Immediately on launch there was only a tiny bit of liquidity and there were ape bots that were chucking in 100s of ETH into a pool with an ETH or two of liquidity. They also had high slippage and ended up being sandwiched by the other bots which essentially drained all their ETH.<\/p>\n<\/blockquote>\n<p>In plain English, this means WTF developers\u2019 poor liquidity pool management left the pool exposed. Due to the low liquidity, bots could manipulate the price of the WTF token and sold for WETH. <\/p>\n<p>The bot stole from the liquidity providers, who were attempting to claim their WTF tokens and Rekt NFT as promised. <\/p>\n<h2>Ponzi scheme?<\/h2>\n<p>WTF\u2019s price chart shows an initial spike reflecting bot activity, followed by a rapid loss in value. At the time of writing, WTF is trading for $0.12 and has lost 9% in the last 24 hours. One user ended up \u2018exchanging\u2019 $135,000 in ether for the amount of $0.01 in WTF.<\/p>\n<p>Some Twitter users have labeled the airdrop and the project in general a Ponzi scheme. Referrers of the WTF project claim half of the fees to make it go viral. The WTF team gets 4% of each transfer. The whole team \u2018earned\u2019 just under half a million in token transfer fees in around 8 hours.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.banklesstimes.com\/2022\/01\/14\/new-altcoin-drains-187k-in-ether-upon-launch\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fees.wtf, a simple service that shows Ethereum users their lifetime spend on mainnet transactions by measuring gas, released its token WTF early this morning. Users plug in their wallet address on the website to see how much gas they\u2019ve spent. In the airdrop, users were to claim WTF tokens and a \u201cRekt\u201d NFT, granting lifetime [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[3589,349,3588,369,171],"class_list":["post-4815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-187k","tag-altcoin","tag-drains","tag-ether","tag-launch"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/01\/photo-1635840420799-f75477b0b977.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4815"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4815\/revisions"}],"predecessor-version":[{"id":4817,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4815\/revisions\/4817"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/4816"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4815"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}