Scam Project SeaSwap Party Withdrew 30,000 SUI From The Contract

According to CertiK Alert monitoring, the SeaSwap project is an exit scam. It has canceled its Twitter account and suspended its social channels. The project administrator urgently withdrew SUI from the token sale contract, totaling 32,787 SUI ($32,000).

#CertiKSkynetAlert ?

We are seeing an exit scam from @SeaSwapSui, which has deleted Twitter and abandoned social channels.

The admins invoke emergency withdrawal of SUI from the token sale contract for a total of 32787 SUI ($32k).

More information ?https://t.co/vAFrLNtbbU

— CertiK Alert (@CertiKAlert) May 26, 2023

Coincu has also investigated the information about SeaSwap, but currently, there is very little contact about this DEX, and the project’s social pages are currently inaccessible.

The project’s Twitter page is now “white”

SeaSwap promises to be a DEX based on the Sui blockchain, allowing users to exchange numerous cryptocurrencies quickly and securely. SeaSwap, as an automated market maker, employs a central limit order book to offer liquidity and enable users to buy and sell tokens at market rates in real-time. According to the project whitepaper, it provides additional chances for generating income via liquidity providing and staking, in addition to trading. But in reality, this is just a scam project.

DeFi trends continue to rise as the wave of recovery from meme coins and Ordinals is growing strongly. This leads to scammers taking advantage of platforms to perform tricks to steal user assets.

According to on-chain investigator ZachXBT, a crypto project named Fintoch, which purported to be sponsored by investment giant Morgan Stanley, seems to have stolen about $32 million from its members’ wallets, Coincu previously reported. The fund guaranteed customers 1% daily income on their money. Nevertheless, platform customers have begun to allege that they are now unable to withdraw cash from Fintoch.

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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