Seaswap Sui has fallen victim to a rug pull, resulting in the loss of 32,787 $SUI tokens. Beosin Alert, a reputable blockchain security firm, has brought this incident to light, warning investors about the potential risks associated with investing in such projects. This rug pull highlights the importance of conducting thorough due diligence before investing in any decentralized finance (DeFi) platform.
The rug pull was detected through blockchain transaction records. Two transactions, with the following hash values, revealed the details of the incident: [Fb4] and [ADH]. By analyzing these transactions on the Suiscan platform, it was found that the sender was the owner of the modules’ presale ledger, known as the PresaleStorage object. This individual had the authority to execute an emergency withdrawal of all the $SUI and $SEA tokens acquired during the presale.
This was not the first rug pull incident involving Sui. Another project named Sui Fusion had also fallen victim to a similar rug pull not long ago.
The Seaswap Sui rug pull has once again exposed the vulnerabilities within the crypto ecosystem, where malicious actors take advantage of investors’ trust and exploit weaknesses in project structures. This incident serves as a reminder that investors must exercise caution and thoroughly research any project before committing their funds.