Dragoma failure is a Rug Pull! – Pecksheild

Share This Post

Peckshield, a group of smart crypto sleuths, has found out how Dragoma, a recently “launched” Web3 gaming platform, drained the project’s funds and ran away.

Those who wake up to check their Dragoma tokens ($DMA) will be in for a big surprise. Most of the liquidity for the once-hyped gaming utility token has moved to centralized exchanges. At the same time, the project website and social media accounts have all but disappeared.

Warning signals before the heist

In the past few weeks, it seemed like the Dragoma project was getting a lot of attention. It promised to build an adventure-style game on the Polygon network with collectible NFTs and an onboard economy. The wheels fell off, though, early on August 8. The price of a token dropped 99.87 percent, from a high of $1.34 to a low of $0.0012. Investors lost about $3.5 million worth of assets, according to Peckshield, who reports that the funds seem to be going to centralized exchanges.

With the falling value of tokens plus the shut down of both Twitter and Discord channels, then you have all the signs of a classic rug pull. But with the centralized exchanges added to the mix, hopefully, a little bit of Know Your Customer (KYC) will bring them down.

About Drogoma

Dragoma is like Solana’s step-to-earn game STEPN. The team positioned it as a Web3 lifestyle game, and players could earn the DMA token by doing things like training a dragon or fighting with their pets.

Tokens that can’t be traded are an important part of the game. The dragon eggs will hatch after the player walks 500 meters every day for 40 days. Dragoma World’s beta version was supposed to come out at the end of August.

Related Posts

Vitalik Buterin Dislikes Expensive PFP NFTs like BAYC

Vitalik Buterin Ethereum co founder and the 'prince of...

Is Azuki Really a Rug pull?

This evening a Twitter user Rug Pull Finder tweeted...

Coinbase NFT goes live in Beta

US based fortune 500 crypto exchange, Coinbase has launched...

Who Is Series: The Parallax

Highlights Introduction to the who is series and the first...

GameStop Launches Self Custodial Ethereum Wallet

American gaming powerhouse Gamestop announced this morning the launch...

Guides: Best Cryptocurrency Exchanges Available

The process of exchanging cryptocurrency is the same as...