TeddyDoge (TEDDY) Rug Pull 99.94% Off

The price of TEDDY has collapsed to virtually zero, with the scammer behind the rug pull making away with millions of dollars.

TEDDY project is a “soft rug pull”

Rug pulls are essentially projects where developers siphon large amounts of money from investors, and then withdraw everything from the liquidity pool, causing the value of token to drop drastically. They are intricate and manipulative scams that usually occur on Decentralized Exchanges (DEXs).

The price of TeddyDoge (TEDDY) has collapsed by more than 99.94% over the last 24 hours, Coinbase data shows.  

According to blockchain security firm PeckShield, the project is a “soft rug pull.”

The price of the cryptocurrency was pumped and dumped by the deployer of the contract, the firm says.

Whoever was behind the rug pull managed to make away with 10,000 BNB tokens ($2,591,573) and $2 million worth of Binance USD (BUSD) stablecoins. The assets are currently being transferred to the Binance exchange.

There’s no shortage of scammers who have tried to enrich themselves by taking advantage of Dogecoin’s popularity.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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