Users suffered losses after the next implementation of the pump and dump scheme with the token of the new DeFi experiment of the founder of the yEarn Finance project André Cronier, writes Cointelegraph.
On October 19, the developer posted on GitHub the code of the third project in the last two months, called Keep3r Network. It is a marketplace for technical specifications for developers.
In Keep3r Network, the process of creating / approving applications is planned to be transferred to the level of smart contracts. The native KPR token, which provides for the option of profitable farming, will act as the internal currency of the project.
A group of bots and adventurous traders monitored Cronier's GitHub activity as well as his Ethereum wallet, which was used to interact with the Keep3r Network.
Crypto investors were not stopped by the lack of an official launch notice and the mention that the project is in beta testing.
Several thousand dollars were contributed to the liquidity pool with KPR on the Uniswap decentralized exchange. In a thin market, the price of the token jumped sharply from $ 1 to $ 2,000 and subsequently fell to $ 100. During this time, Cronier has repeatedly made changes to the project code, continuing testing.
Earlier in October, Cronje became interested in the concept of tokens acting as a liquidity bridge between various exchanges. As with KPR, users discovered one of these LBI tokens on the Uniswap exchange. Despite the developer's warnings, they pump and dump him. Then, per day, the volume of token trading amounted to $ 5.5 million.
pum has been on Twitter for two weeks after being threatened. They came from users who lost money by hacking an unfinished Eminence contract.
We will remind, earlier in October, a group of investors EMN Investigation opened a fundraiser to finance the lawsuit against Cronje.