Alleged Rug Pull By Dragoma Discovered By Security Firm

Alleged rug pull by Dragoma was discovered by the blockchain security firm PeckShield who also noted the precipitous decrease in the value of Dragoma’s token DMA.

Dragoma, a play-to-earn game built on polygons, allegedly had its rug pulled out from under it when more than $1 million was transferred from the project to exchange wallets.

The alleged rug pull was initially discovered by blockchain security firm PeckShield, who also noted the precipitous decrease in the value of Dragoma’s token DMA.

The project lost more than $420,000 USDT and 880,000 MATIC, according to the information that is currently available.

In the previous 4 hours, DMA’s value dropped precipitously from $1.8 to less than $0.0023. The token’s value increased by more than 160 percent on August 6, earning it recognition as one of the top gainers.

Although the scale of the rug pull is uncertain, evidence from Polygonscan shows that over 5700 wallet addresses contained Dragoma. A member of the crypto community lost $10,000 as a result of the trick.

Both the GameFi application’s Telegram channel and website are now unavailable. Twitter and other social media sites were also removed.

The move comes less than a day after the MEXC Global exchange debuted the DMA/USDT trading pair and listed the token in its Assessment Zone.

On its blog, the exchange has since posted updated information announcing that it has temporarily halted trading in the token due to “abnormal on-chain transfers of Dragoma (DMA).”

The move-to-earn game Dragoma is comparable to Solana STEPN. It presented itself as a Web3 lifestyle game, and users could acquire the DMA token by engaging in a variety of tasks, such as dragon training and pet combat.

Tokens that are non-fungible are essential to the game. After 40 days of the player walking 500 meters each day, the dragon eggs begin to hatch. At the end of August, Dragoma world’s beta version was supposed to become live.

The latest price for the Dragoma token, or DMA is $0.001283 according to CoinMarketCap.

Before the alleged rug pull Dragoma boasted of a huge ecosystem with lots of opportunities for trade, cooperation, and competition where players would drive emerging economies. But it would appear that this was not the case and that Dragoma was not honest with its community.

We will be following the story closely as it develops in the coming days.

Read more Altcoin news.