Coinbase Deletes Rug Pull-Related Content -Breaking
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Coinbase Annullates Rug Pull-Related ContentCoinbase Global has pulled content that helped investors to purchase exit-related tokens from their platform.
Reuters reports that the Coinbase (NASDAQ) team has deactivated articles which explained how to invest in at least three shady coins. According to the article, instructions for DeFi100 (D100), Merenary (MGOLD), and other tokens had been deleted. Coinbase did not support any of the tokens associated to rug-pull on their crypto wallet.
After increased suspicions about tokens involved in rug pulling scams, the decision was made.
Company plans to enhance the security of its informational websites, which were created automatically in response to data published on CoinMarketCap.
Recent attention has been drawn to rug pull scams as a result of huge interest in Decentralized Finance (DeFi), when thousands of cryptocurrency investors were positioned for hunting crypto gems, with the expectation of finding micro-cap coins that could yield unprecedented future returns.
Many were victims of rug pull fraudsters who claimed to have legitimate cryptocurrency projects promising high stake yields and promising concepts.
Truth is often disappointing. These financial fraudsters withdrew the funds and abandoned the projects once the tokens’ value reached the desired level.
The victims of rug pulling scams were robbed of more than $2.8 million in digital currencies by the fraudsters.
Related: How to spot a crypto rug pull scam
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