Hotbit's Rug Pull Disaster Devastates RichQuack, Baby DogeCoin, Dogelon Mars
Portfolio Pulse from Murtuza Merchant
Cryptocurrency exchange Hotbit has reportedly executed a significant rug pull, causing severe damage to the Defi project RichQuack, along with Baby Doge Coin and Dogelon Mars tokens. Hotbit sold around 256 trillion QUACK tokens that belonged to QUACK holders on PancakeSwap and did not respond to withdrawal requests. The incident also affected other projects, including BabyDogeCoin and DogelonMars. Hotbit recently announced a halt to its operations due to worsening operating conditions.
July 05, 2023 | 6:04 pm
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NEGATIVE IMPACT
Dogelon Mars (ELON) tokens were severely affected by Hotbit's rug pull.
The rug pull by Hotbit has caused a significant impact on Dogelon Mars tokens, leading to a potential decrease in their value.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 80
NEGATIVE IMPACT
Hotbit expressed concerns about the future of centralized exchanges like FTX in the evolving landscape of the crypto industry.
The rug pull by Hotbit and its subsequent halt of operations raises concerns about the future of centralized exchanges like FTX, potentially impacting their value.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60