- ZachXBT revealed that the creators of the URF meme coin have disappeared.
- They raised around 2,400 SOL, amounting to $450,000.
- American influencer Bryce Hall promoted the meme coin in several posts.
The team behind a meme coin project based on the Solana blockchain has disappeared after raising a significant sum from its presale, rug pulling on the investors.
As revealed by blockchain investigator ZachXBT via a post on social media platform X (formerly known as Twitter), American social media personality and bare knuckle boxer, Bryce Hall promoted the meme coin heavily.
ZachXBT stated that Hall helped the creators of the project dupe investors by promoting the presale, which allowed them to raise 2,400 SOL, or around $450,000. Notably, the team has vanished less than 24 hours after launch, while the social media accounts related to URF have had zero activity since March 26.
Further, the creators have been using the funds generated from the presale to trade meme coins on exchanges via the address 2Y8hZh5on4q9wyqXoNYC8oYPUVQMunrzqW8qDmxup4R8.
In a March 19 X post, ZachXBT highlighted that such cases of rug pulls are gradually increasing on the Solana blockchain. Between March 12 and March 20, more than 96,000 SOL ($178.1 million) were raised from 33 presales, all of which were pocketed by the creators. Additionally, ZachXBT published a highly detailed inquiry into the 33 incidents, updating his list based on the suggestions from his followers, exposing a network of deceit.
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