SwapRum Rug Pull: Difference between revisions

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(Another 30 minutes complete.)
(Another 30 minutes complete. Prevention added.)
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{{Unattributed Sources}}
{{Unattributed Sources}}


[[File:Swaprum.jpg|thumb|SwapRun Website]]SwapRum Finance offered a next generation decentralized exchange. They obtained an audit from CertiK but only partially resolved some of the issues in their project. Then they used one of those issues to execute a rug pull and withdraw all funds form the liquidity pool, which were then brought out through TornadoCash.
[[File:Swaprum.jpg|thumb|SwapRum Website]]SwapRum Finance offered a next generation decentralized exchange. They obtained an audit from CertiK but only partially resolved some of the issues in their project. Then they used one of those issues to execute a rug pull and withdraw all funds form the liquidity pool, which were then brought out through TornadoCash.


This is a global/international case not involving a specific country.<ref name="slowmisthackedarchive-10953" /><ref name="hackenclubtwitterarchive-10954" /><ref name="hackenclubtwitter-10955" /><ref name="arbiscan-10956" /><ref name="sebasti04989541twitter-10957" /><ref name="cryptoemprendetwitter-10958" /><ref name="lucas75831804twitter-10959" /><ref name="anciliainctwitter-10960" /><ref name="jessiedegenstwitter-10961" /><ref name="metasleuthtwitter-10962" /><ref name="damicalestwitter-10963" /><ref name="martiniguyyttwitter-10964" /><ref name="peckshieldalerttwitter-10965" /><ref name="damicalestwitter-10966" /><ref name="dedotfisecuritytwitter-10967" /><ref name="theblocktwitter-10968" /><ref name="musiclo62847240twitter-10969" /><ref name="saitopicknewstwitter-10970" /><ref name="jinyachao1999twitter-10971" /><ref name="takacryptotwitter-10972" /><ref name="huntershannohstwitter-10973" /><ref name="moffcointwitter-10974" /><ref name="whalecointalktwitter-10975" /><ref name="waleedmahmoud99twitter-10976" /><ref name="marcink88twitter-10977" /><ref name="mtomczakorgtwitter-10978" /><ref name="rnsahintwitter-10979" /><ref name="cyversalertstwitter-10980" /><ref name="cryptosavingexptwitter-10981" /><ref name="cryptokeretwitter-10982" /><ref name="damicalestwitter-10983" /><ref name="vadymnikolskyi1twitter-10984" /><ref name="mueb2ethtwitter-10985" /><ref name="cryptopotatotwitter-10986" /><ref name="esatoshiclubtwitter-10987" /><ref name="alabasimamountwitter-10988" /><ref name="brahmi1973twitter-10989" /><ref name="mnathu0105twitter-10990" /><ref name="numencybertwitter-10991" /><ref name="koinbultwitter-10992" /><ref name="0xepicatwitter-10993" /><ref name="lun68251148twitter-10994" /><ref name="becausebitcointwitter-10995" /><ref name="djkhileshrajtwitter-10996" /><ref name="cyversalertstwitter-10997" />
This is a global/international case not involving a specific country.<ref name="slowmisthackedarchive-10953" /><ref name="hackenclubtwitterarchive-10954" /><ref name="hackenclubtwitter-10955" /><ref name="arbiscan-10956" /><ref name="sebasti04989541twitter-10957" /><ref name="cryptoemprendetwitter-10958" /><ref name="lucas75831804twitter-10959" /><ref name="anciliainctwitter-10960" /><ref name="jessiedegenstwitter-10961" /><ref name="metasleuthtwitter-10962" /><ref name="damicalestwitter-10963" /><ref name="martiniguyyttwitter-10964" /><ref name="peckshieldalerttwitter-10965" /><ref name="damicalestwitter-10966" /><ref name="dedotfisecuritytwitter-10967" /><ref name="theblocktwitter-10968" /><ref name="musiclo62847240twitter-10969" /><ref name="saitopicknewstwitter-10970" /><ref name="jinyachao1999twitter-10971" /><ref name="takacryptotwitter-10972" /><ref name="huntershannohstwitter-10973" /><ref name="moffcointwitter-10974" /><ref name="whalecointalktwitter-10975" /><ref name="waleedmahmoud99twitter-10976" />


== About SwapRum ==
== About SwapRum ==
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The interface provided users with a balance in ARB, and claimed that withdrawals would be processed after 0.5 ARB were accumulated<ref name="sanjeev08818841twitter-11025" /><ref name="blmcryptotwitter-11018" />.
The interface provided users with a balance in ARB, and claimed that withdrawals would be processed after 0.5 ARB were accumulated<ref name="sanjeev08818841twitter-11025" /><ref name="blmcryptotwitter-11018" />.


Multiple users on Twitter expressed support and excitement for the project<ref name="parhan235twitter-11021" /><ref name="aloponaftwitter-11007" />, while others helped to promote it<ref name="blmcryptotwitter-11018" /><ref name="datedata51twitter-11010" />. In fact, it was reported that the Telegram account of the project was full<ref name="ayodelesammyleetwitter-11014" />.
Multiple users on Twitter expressed support and excitement for the project<ref name="parhan235twitter-11021" /><ref name="aloponaftwitter-11007" /><ref name="brahmi1973twitter-10989" />, while others helped to promote it<ref name="blmcryptotwitter-11018" /><ref name="datedata51twitter-11010" /><ref name="alabasimamountwitter-10988" />. In fact, it was reported that the Telegram account of the project was full<ref name="ayodelesammyleetwitter-11014" />.


<blockquote>good project...and good investasi.....bravo @Swaprum</blockquote>
<blockquote>good project...and good investasi.....bravo @Swaprum</blockquote><blockquote>Good project And the second draw but mining has stopped</blockquote>


== The Reality ==
== The Reality ==
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=== Limitations of Interface ===
=== Limitations of Interface ===
There were multiple reports prior to the rug pull of issues with the provided Swaprum interface<ref name="khuongeyelesstwitter-11031" /><ref name="sanjeev08818841twitter-11025" />, including failures to load the website<ref name="aryobagas9twitter-11012" /> and a reported inability to withdraw funds<ref name="ayodelesammyleetwitter-11014" /><ref name="mohsencngtwitter-11028" /><ref name="hayatkhan6931twitter-11016" /><ref name="dariush72249709twitter-11008" />.<blockquote>Why does the claim not accumulate in the balance section?</blockquote><blockquote>Why hasn't the token been deposited into my wallet after a few days of requesting a withdrawal?</blockquote><blockquote>I want you to help, even in withdrawing, there is a pending order.</blockquote><blockquote>Bro dont pay scam site withdrawal transaction dont work 100% scam</blockquote>
There were multiple reports prior to the rug pull of issues with the provided Swaprum interface<ref name="khuongeyelesstwitter-11031" /><ref name="sanjeev08818841twitter-11025" />, including failures to load the website<ref name="aryobagas9twitter-11012" /> and a reported inability to withdraw funds<ref name="ayodelesammyleetwitter-11014" /><ref name="mohsencngtwitter-11028" /><ref name="hayatkhan6931twitter-11016" /><ref name="dariush72249709twitter-11008" /><ref name="djkhileshrajtwitter-10996" />.<blockquote>Why does the claim not accumulate in the balance section?</blockquote><blockquote>Why hasn't the token been deposited into my wallet after a few days of requesting a withdrawal?</blockquote><blockquote>I want you to help, even in withdrawing, there is a pending order.</blockquote>
 
=== Warnings About Scam ===
Several users warned about the potential that this project may be a scam<ref name="dariush72249709twitter-11008" /><ref name="lun68251148twitter-10994" /><ref name="damicalestwitter-10983" />.<blockquote>Bro dont pay scam site withdrawal transaction dont work 100% scam</blockquote><blockquote>you will regret when you deposit money into a project that smells like a scam</blockquote>


== What Happened ==
== What Happened ==
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|Website Bad Request Reported
|Website Bad Request Reported
|Twitter user Aryo Bagas reports that the mobile application is giving a "Error Bad request, check internet" code<ref name="aryobagas9twitter-11012" />.
|Twitter user Aryo Bagas reports that the mobile application is giving a "Error Bad request, check internet" code<ref name="aryobagas9twitter-11012" />.
|-
|May 17th, 2023 11:15:00 PM MDT
|Warning From Damicale
|<ref>https://twitter.com/Damicale_s/status/1659065101004029958 (May 30, 2023)</ref>
|-
|-
|May 18th, 2023 9:52:12 AM MDT
|May 18th, 2023 9:52:12 AM MDT
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|May 19th, 2023 12:06:00 AM MDT
|May 19th, 2023 12:06:00 AM MDT
|Cyvers Alerts For Rug Pull
|Cyvers Alerts For Rug Pull
|Cyvers Alerts reports the rug pull mint and that the Twitter account has been deleted<ref name="cyversalertstwitter-10980" />.
|Cyvers Alerts reports the rug pull mint and that the Twitter account has been deleted<ref name="cyversalertstwitter-10980" />. TBD more analysis of CyversAlerts
|-
|-
|May 19th, 2023 12:13:00 AM MDT
|May 19th, 2023 12:13:00 AM MDT
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|May 19th, 2023 4:56:00 AM MDT
|May 19th, 2023 4:56:00 AM MDT
|Because Bitcoin Article
|Because Bitcoin Article
|The Because Bitcoin shares the breaking news<ref name="becausebitcointwitter-11001" />, and later links to an article they wrote on the situation, which includes a full screenshot of what the Swaprum website looked like when it was operating<ref>[https://twitter.com/BecauseBitcoin/status/1659526966372868097 BecauseBitcoin - "Read the full article here" - Twitter] (May 29, 2023)</ref><ref>[https://www.becausebitcoin.com/post/swaprum-dex-team-vanishes-in-apparent-usd3-million-exit-scam-on-arbitrum-network Swaprum DEX Team Vanishes in Apparent $3 Million Exit Scam on Arbitrum Network - BecauseBitcoin] (May 29, 2023)</ref>.
|The Because Bitcoin shares the breaking news<ref name="becausebitcointwitter-11001" />, and later links to an article they wrote on the situation, which includes a full screenshot of what the Swaprum website looked like when it was operating<ref>[https://twitter.com/BecauseBitcoin/status/1659526966372868097 BecauseBitcoin - "Read the full article here" - Twitter] (May 19, 2023)</ref><ref>[https://www.becausebitcoin.com/post/swaprum-dex-team-vanishes-in-apparent-usd3-million-exit-scam-on-arbitrum-network Swaprum DEX Team Vanishes in Apparent $3 Million Exit Scam on Arbitrum Network - BecauseBitcoin] (May 29, 2023)</ref>.
|-
|May 19th, 2023 5:17:00 AM MDT
|Numen Cyber Analysis Published
|Numen Cyber publishes an analysis of the events in Twitter<ref name="numencybertwitter-10991" />.
|-
|-
|May 19th, 2023 5:25:00 AM MDT
|May 19th, 2023 5:25:00 AM MDT
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|CryptoPolitan Article
|CryptoPolitan Article
|Crossposted by Daily Web3 News<ref name="dailynewsweb3twitter-11011" />.
|Crossposted by Daily Web3 News<ref name="dailynewsweb3twitter-11011" />.
|-
|May 19th, 2023 7:46:00 AM MDT
|Swaprum Adding Liquidity
|A Twitter post claims that the Swaprum project is adding liquidity<ref name="0xepicatwitter-10993" />. TBD explain this in the context - the project already rugged?
|-
|-
|May 19th, 2023 8:11:00 AM MDT
|May 19th, 2023 8:11:00 AM MDT
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|Wisper Crypto Summary Published
|Wisper Crypto Summary Published
|Wisper Crypto publishes a summary on Twitter<ref name="jurangcryptotwitter-11005" />.
|Wisper Crypto publishes a summary on Twitter<ref name="jurangcryptotwitter-11005" />.
|-
|May 19th, 2023 10:17:00 AM MDT
|Crypto Potato Article
|Crypto Potato published an article about the situation<ref name="cryptopotatotwitter-10986" /><ref>[https://cryptopotato.com/swaprum-dex-drained-in-3m-crypto-rugpull/ Swaprum DEX Drained in $3M Crypto Rugpull - Crypto Potato] (May 30, 2023)</ref>. TBD fill in more details.
|-
|-
|May 19th, 2023 10:34:00 AM MDT
|May 19th, 2023 10:34:00 AM MDT
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1,620 $ETH has already sent to Tornado Cash.</blockquote>
1,620 $ETH has already sent to Tornado Cash.</blockquote>
=== Numen Cyber Summary ===
Numen Cyber shared a summary on Twitter<ref name="numencybertwitter-10991" />. They also provided the scammer's address<ref>[https://arbiscan.io/address/0xf2744e1fe488748e6a550677670265f664d96627 Scammer's Address - Arbiscan] (May 30, 2023)</ref> and fund transfer address<ref name=":0" />.<blockquote>#Arbitrum's Swaprum was rugged by its team for 1,629 $ETH (~$2.95mil)
The token $SAPR has plummeted by 100%
Swaprum has also deleted all its social media accounts
The scammer has transferred all the $ETH to #Ethereum & moved it to [TornadoCash].</blockquote>


=== WisperCrypto Summary ===
=== WisperCrypto Summary ===
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=== Reactions on Twitter ===
=== Reactions on Twitter ===
The news was widely reported on Twitter<ref name="lamarziaatwitter-11027" /><ref name="beyondkartotwitter-11023" /><ref name="web3wisertwitter-11017" /><ref name="winnerilltwitter-11026" /><ref name="beyondbitcoin1twitter-11029" /><ref name="defivisionarytwitter-11024" /><ref name="kirill186186twitter-11022" /><ref>[https://twitter.com/rotcivegaf/status/1660032640332832768 Rotciv - "A week ago I reported a bug, which they never paid for, it was obvious from afar that it was a trap.  the truth is that they made a well-organized trap" - Twitter] (May 25, 2023)</ref><ref>[https://twitter.com/Ero___Gamer/status/1659759290922483717 Rean Schwarzer - "I know from the start Swaprum was a scam project just after visiting their token page on @CoinMarketCap since it clearly had a warning sign of a rugged token. Ironically I joined their group to get free ARB but after I posted about their token they kicked me out lol." - Twitter] (May 25, 2023)</ref>.<blockquote>swaprum finance deactivate their twitter account?</blockquote><blockquote>Important Alert! Crypto traders, beware! Swaprum, an exchange on Arbitrum network, has been exposed as a decentralized scam. The team behind it has shamelessly withdrawn approximately $3 million from customer deposits </blockquote><blockquote>Breaking: Swaprum #DEX On #Arbitrum Rug Pulls $3M, SAPR Token Crashes 100%</blockquote><blockquote>Just got rugged on Swaprum. Site and discord is still up. A lot of work for 1 million</blockquote><blockquote>JUST IN: Swaprum, a decentralized exchange (DEX) built on @arbitrum ruggpulls with $3 million users deposit.  According to blockchain security firm PeckShield, the team has already laundered part of the funds on Tornado Cash.</blockquote><blockquote>The #Swaprum rug pull has left investors devastated with a jaw-dropping $3 million loss in this #defi scam. As a social media marketer, I urge everyone to stay vigilant while investing in the crypto market. Like and retweet to spread the word!</blockquote><blockquote>@Swaprum he deceived us all, we fulfilled all the conditions, but they threw us .. do not believe this is ophirists</blockquote><blockquote>A week ago I reported a bug, which they never paid for, it was obvious from afar that it was a trap.  the truth is that they made a well-organized trap</blockquote><blockquote>I know from the start Swaprum was a scam project just after visiting their token page on @CoinMarketCap since it clearly had a warning sign of a rugged token. Ironically I joined their group to get free ARB but after I posted about their token they kicked me out lol.</blockquote>
The news was widely reported on Twitter<ref name="lamarziaatwitter-11027" /><ref name="beyondkartotwitter-11023" /><ref name="web3wisertwitter-11017" /><ref name="winnerilltwitter-11026" /><ref name="beyondbitcoin1twitter-11029" /><ref name="defivisionarytwitter-11024" /><ref name="kirill186186twitter-11022" /><ref>[https://twitter.com/rotcivegaf/status/1660032640332832768 Rotciv - "A week ago I reported a bug, which they never paid for, it was obvious from afar that it was a trap.  the truth is that they made a well-organized trap" - Twitter] (May 25, 2023)</ref><ref>[https://twitter.com/Ero___Gamer/status/1659759290922483717 Rean Schwarzer - "I know from the start Swaprum was a scam project just after visiting their token page on @CoinMarketCap since it clearly had a warning sign of a rugged token. Ironically I joined their group to get free ARB but after I posted about their token they kicked me out lol." - Twitter] (May 25, 2023)</ref><ref name="koinbultwitter-10992" /><ref name="mnathu0105twitter-10990" /><ref name="esatoshiclubtwitter-10987" /><ref name="mueb2ethtwitter-10985" /><ref name="vadymnikolskyi1twitter-10984" /><ref name="cryptokeretwitter-10982" /><ref name="cryptosavingexptwitter-10981" />.<blockquote>swaprum finance deactivate their twitter account?</blockquote><blockquote>Important Alert! Crypto traders, beware! Swaprum, an exchange on Arbitrum network, has been exposed as a decentralized scam. The team behind it has shamelessly withdrawn approximately $3 million from customer deposits </blockquote><blockquote>Breaking: Swaprum #DEX On #Arbitrum Rug Pulls $3M, SAPR Token Crashes 100%</blockquote><blockquote>Just got rugged on Swaprum. Site and discord is still up. A lot of work for 1 million</blockquote><blockquote>JUST IN: Swaprum, a decentralized exchange (DEX) built on @arbitrum ruggpulls with $3 million users deposit.  According to blockchain security firm PeckShield, the team has already laundered part of the funds on Tornado Cash.</blockquote><blockquote>The #Swaprum rug pull has left investors devastated with a jaw-dropping $3 million loss in this #defi scam. As a social media marketer, I urge everyone to stay vigilant while investing in the crypto market. Like and retweet to spread the word!</blockquote><blockquote>@Swaprum he deceived us all, we fulfilled all the conditions, but they threw us .. do not believe this is ophirists</blockquote><blockquote>A week ago I reported a bug, which they never paid for, it was obvious from afar that it was a trap.  the truth is that they made a well-organized trap</blockquote><blockquote>I know from the start Swaprum was a scam project just after visiting their token page on @CoinMarketCap since it clearly had a warning sign of a rugged token. Ironically I joined their group to get free ARB but after I posted about their token they kicked me out lol.</blockquote><blockquote>I did not withdraw my airdrop earnings on #Swaprum I also bought $SAPR with 0.01eth and added, but my withdrawal request does not occur on the gas-sufficient leg and I noticed that the value of the $SAPR token has also decreased. His Twitter account has also been disabled. Guess we got scammed</blockquote>


=== Backlash Against CertiK Auditor ===
=== Backlash Against CertiK Auditor ===
There was considerable backlash against CertiK for approving the team's smart contract<ref name="juanpmarintwitter-11004" />.<blockquote>Wtf @CertiK ? Did they bought the audit?</blockquote>
There was considerable backlash against CertiK for approving the team's smart contract<ref name="juanpmarintwitter-11004" /><ref name="rnsahintwitter-10979" /><ref name="mtomczakorgtwitter-10978" /><ref name="marcink88twitter-10977" />.<blockquote>Wtf @CertiK ? Did they bought the audit?</blockquote><blockquote>it seems @swaprum has rugpulled! there is a certik audit on their site! ty...</blockquote><blockquote>It seems that project #Swaprum tricked us and just made a rugpull.
 
Personally, I'm devastated because I put some in there. In addition, the project passed a positive audit @CertiK (they are probably worthless now) and really looked legit.</blockquote>


== Ultimate Outcome ==
== Ultimate Outcome ==
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What parts of this case are still remaining to be concluded?
What parts of this case are still remaining to be concluded?
== Individual Prevention Policies ==
== Individual Prevention Policies ==
{{Prevention:Individuals:Placeholder}}
{{Prevention:Individual:Avoid Using Smart Contracts}}


{{Prevention:Individuals:End}}
{{Prevention:Individuals:End}}


== Platform Prevention Policies ==
== Platform Prevention Policies ==
{{Prevention:Platforms:Placeholder}}
{{Prevention:Platforms:Regular Audit Procedures}}


{{Prevention:Platforms:End}}
{{Prevention:Platforms:End}}


== Regulatory Prevention Policies ==
== Regulatory Prevention Policies ==
{{Prevention:Regulators:Placeholder}}
{{Prevention:Regulators:Platform Security Assessments}}


{{Prevention:Regulators:End}}
{{Prevention:Regulators:End}}
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<ref name="whalecointalktwitter-10975">[https://twitter.com/WhaleCoinTalk/status/1659525625239990273 @WhaleCoinTalk Twitter] (May 19, 2023)</ref>
<ref name="whalecointalktwitter-10975">[https://twitter.com/WhaleCoinTalk/status/1659525625239990273 @WhaleCoinTalk Twitter] (May 19, 2023)</ref>
<ref name="waleedmahmoud99twitter-10976">[https://twitter.com/waleedmahmoud99/status/1658952393302704130 @waleedmahmoud99 Twitter] (May 19, 2023)</ref>
<ref name="waleedmahmoud99twitter-10976">[https://twitter.com/waleedmahmoud99/status/1658952393302704130 @waleedmahmoud99 Twitter] (May 19, 2023)</ref>
<ref name="marcink88twitter-10977">[https://twitter.com/Marcin_K88/status/1659230282564739072 @Marcin_K88 Twitter] (May 19, 2023)</ref>
<ref name="marcink88twitter-10977">[https://twitter.com/Marcin_K88/status/1659230282564739072 Marcin_K88 - "@CertiK Did @Swaprum was just rugged and LP was stolen?" - Twitter] (May 19, 2023)</ref>
<ref name="mtomczakorgtwitter-10978">[https://twitter.com/MTomczak_org/status/1659241402662780944 @MTomczak_org Twitter] (May 19, 2023)</ref>
<ref name="mtomczakorgtwitter-10978">[https://twitter.com/MTomczak_org/status/1659241402662780944 MTomczak_org - "It seems that project #Swaprum tricked us and just made a rugpull. Personally, I'm devastated because I put some in there. In addition, the project passed a positive audit @CertiK (they are probably worthless now) and really looked legit." - Twitter] (May 19, 2023)</ref>
<ref name="rnsahintwitter-10979">[https://twitter.com/rnsahin/status/1659236449466679296 @rnsahin Twitter] (May 19, 2023)</ref>
<ref name="rnsahintwitter-10979">[https://twitter.com/rnsahin/status/1659236449466679296 rnsahin - "it seems @swaprum has rugpulled! there is a certik audit on their site! ty..." - Twitter] (May 19, 2023)</ref>
<ref name="cyversalertstwitter-10980">[https://twitter.com/CyversAlerts/status/1659440413407694848 CyversAlerts - "RUGPULL Dev exploits @swaprum by creating a fresh token contract for #Swaprum  Token, resulting in a massive $1M rug pull. This enabled the minting of 200,000,000 $SAPR tokens.️ Moreover, @Swaprum's Twitter profile has mysteriously vanished." - Twitter] (May 19, 2023)</ref>
<ref name="cyversalertstwitter-10980">[https://twitter.com/CyversAlerts/status/1659440413407694848 CyversAlerts - "RUGPULL Dev exploits @swaprum by creating a fresh token contract for #Swaprum  Token, resulting in a massive $1M rug pull. This enabled the minting of 200,000,000 $SAPR tokens.️ Moreover, @Swaprum's Twitter profile has mysteriously vanished." - Twitter] (May 19, 2023)</ref>
<ref name="cryptosavingexptwitter-10981">[https://twitter.com/CryptoSavingExp/status/1659544757624885254 @CryptoSavingExp Twitter] (May 19, 2023)</ref>
<ref name="cryptosavingexptwitter-10981">[https://twitter.com/CryptoSavingExp/status/1659544757624885254 CryptoSavingExp - "Arbitrum DEX #Swaprum rug pulls, drains $3m in liquidity Stay safe out there" - Twitter] (May 19, 2023)</ref>
<ref name="cryptokeretwitter-10982">[https://twitter.com/cryptokere/status/1659235089354563585 @cryptokere Twitter] (May 19, 2023)</ref>
<ref name="cryptokeretwitter-10982">[https://twitter.com/cryptokere/status/1659235089354563585 cryptokere - "@Swaprum is now gone, they run away with 1205 #ETH" -  Twitter] (May 19, 2023)</ref>
<ref name="damicalestwitter-10983">[https://twitter.com/Damicale_s/status/1659277889454370834 @Damicale_s Twitter] (May 19, 2023)</ref>
<ref name="damicalestwitter-10983">[https://twitter.com/Damicale_s/status/1659277889454370834 Damicale_s - "This morning I try to tell people stay away" - Twitter] (May 19, 2023)</ref>
<ref name="vadymnikolskyi1twitter-10984">[https://twitter.com/vadymnikolskyi1/status/1659120938678403073 @vadymnikolskyi1 Twitter] (May 19, 2023)</ref>
<ref name="vadymnikolskyi1twitter-10984">[https://twitter.com/vadymnikolskyi1/status/1659120938678403073 vadymnikolskyi1 - "Why the eternal conclusion?" - Twitter] (May 19, 2023)</ref>
<ref name="mueb2ethtwitter-10985">[https://twitter.com/mueb2eth/status/1659241014144401412 @mueb2eth Twitter] (May 19, 2023)</ref>
<ref name="mueb2ethtwitter-10985">[https://twitter.com/mueb2eth/status/1659241014144401412 mueb2eth - " did not withdraw my airdrop earnings on #Swaprum I also bought $SAPR with 0.01eth and added, but my withdrawal request does not occur on the gas-sufficient leg and I noticed that the value of the $SAPR token has also decreased. His Twitter account has also been disabled. Guess we got scammed "T- witter] (May 19, 2023)</ref>
<ref name="cryptopotatotwitter-10986">[https://twitter.com/Crypto_Potato/status/1659594137090371587 @Crypto_Potato Twitter] (May 19, 2023)</ref>
<ref name="cryptopotatotwitter-10986">[https://twitter.com/Crypto_Potato/status/1659594137090371587 Crypto_Potato - "The platform's native token, expectely, dumped by over 99% in hours." - Twitter] (May 19, 2023)</ref>
<ref name="esatoshiclubtwitter-10987">[https://twitter.com/esatoshiclub/status/1659511692315836418 @esatoshiclub Twitter] (May 19, 2023)</ref>
<ref name="esatoshiclubtwitter-10987">[https://twitter.com/esatoshiclub/status/1659511692315836418 esatoshiclub - "Approximately 1,628 #ETH, equivalent to $3M, was siphoned off from the platform's #Liquidity pools" - Twitter] (May 19, 2023)</ref>
<ref name="alabasimamountwitter-10988">[https://twitter.com/AlabasiMamoun/status/1658901074160361476 @AlabasiMamoun Twitter] (May 19, 2023)</ref>
<ref name="alabasimamountwitter-10988">[https://twitter.com/AlabasiMamoun/status/1658901074160361476 AlabasiMamoun - "Join the best Yield #Farming pools and earn high APR" - Twitter] (May 19, 2023)</ref>
<ref name="brahmi1973twitter-10989">[https://twitter.com/Brahmi1973/status/1659123244379561985 @Brahmi1973 Twitter] (May 19, 2023)</ref>
<ref name="brahmi1973twitter-10989">[https://twitter.com/Brahmi1973/status/1659123244379561985 Brahmi1973 - "Good project And the second draw but mining has stopped" - Twitter] (May 19, 2023)</ref>
<ref name="mnathu0105twitter-10990">[https://twitter.com/MNAThu0105/status/1659596705636188161 @MNAThu0105 Twitter] (May 19, 2023)</ref>
<ref name="mnathu0105twitter-10990">[https://twitter.com/MNAThu0105/status/1659596705636188161 MNAThu0105 - "Swaprum DEX Drained in $3M Crypto Rugpull 9min ago by." - Twitter] (May 19, 2023)</ref>
<ref name="numencybertwitter-10991">[https://twitter.com/numencyber/status/1659518657175883776 @numencyber Twitter] (May 19, 2023)</ref>
<ref name="numencybertwitter-10991">[https://twitter.com/numencyber/status/1659518657175883776 Numen Cyber - "#Arbitrum's Swaprum was rugged by its team for 1,629 $ETH (~$2.95mil) The token $SAPR has plummeted by 100% Swaprum has also deleted all its social media accounts" - Twitter] (May 19, 2023)</ref>
<ref name="koinbultwitter-10992">[https://twitter.com/_Koinbul_/status/1659510629269372928 @_Koinbul_ Twitter] (May 19, 2023)</ref>
<ref name="koinbultwitter-10992">[https://twitter.com/_Koinbul_/status/1659510629269372928 _Koinbul_ - "Swaprum DEX team disappears with $3 million in apparent exit scam on Arbitrum network" - Twitter] (May 19, 2023)</ref>
<ref name="0xepicatwitter-10993">[https://twitter.com/0xEpica/status/1659556119851974656 @0xEpica Twitter] (May 19, 2023)</ref>
<ref name="0xepicatwitter-10993">[https://twitter.com/0xEpica/status/1659556119851974656 0xEpica - "Swaprum added liquidity into $SAPR token. This aims to achieve the following goals" - Twitter] (May 19, 2023)</ref>
<ref name="lun68251148twitter-10994">[https://twitter.com/Lun68251148/status/1658990753870385152 @Lun68251148 Twitter] (May 19, 2023)</ref>
<ref name="lun68251148twitter-10994">[https://twitter.com/Lun68251148/status/1658990753870385152 Lun68251148 - "you will regret when you deposit money into a project that smells like a scam" - Twitter] (May 19, 2023)</ref>
<ref name="becausebitcointwitter-10995">[https://twitter.com/BecauseBitcoin/status/1659526966372868097 @BecauseBitcoin Twitter] (May 19, 2023)</ref>
<ref name="becausebitcointwitter-10995">[https://twitter.com/BecauseBitcoin/status/1659526966372868097 @BecauseBitcoin Twitter] (May 19, 2023)</ref>
<ref name="djkhileshrajtwitter-10996">[https://twitter.com/djkhileshraj/status/1659009714813026304 @djkhileshraj Twitter] (May 19, 2023)</ref>
<ref name="djkhileshrajtwitter-10996">[https://twitter.com/djkhileshraj/status/1659009714813026304 djkhileshraj - "Hello sir swaprum website se ARB token withdraw nhi ho rha hai trust wallet me please give me any solution." - Twitter] (May 19, 2023)</ref>
<ref name="cyversalertstwitter-10997">[https://twitter.com/CyversAlerts/status/1659442219420471296 CyversAlerts - "ALERT @swaprum hacker has bridged the all stolen funds to #Ethereum and deposited 1620 #ETH ($3M) already deposited via @TornadoCash." - Twitter] (May 19, 2023)</ref>
<ref name="cyversalertstwitter-10997">[https://twitter.com/CyversAlerts/status/1659442219420471296 CyversAlerts - "ALERT @swaprum hacker has bridged the all stolen funds to #Ethereum and deposited 1620 #ETH ($3M) already deposited via @TornadoCash." - Twitter] (May 19, 2023)</ref>
<ref name="yunasmftwitter-10998">[https://twitter.com/YunasMF/status/1659476304541147137 YunasMF - "Yes you right" - Twitter] (May 19, 2023)</ref>
<ref name="yunasmftwitter-10998">[https://twitter.com/YunasMF/status/1659476304541147137 YunasMF - "Yes you right" - Twitter] (May 19, 2023)</ref>

Revision as of 13:30, 30 May 2023

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SwapRum Website

SwapRum Finance offered a next generation decentralized exchange. They obtained an audit from CertiK but only partially resolved some of the issues in their project. Then they used one of those issues to execute a rug pull and withdraw all funds form the liquidity pool, which were then brought out through TornadoCash.

This is a global/international case not involving a specific country.[1][2][3][4][5][6][7][8][9][10][11][12][13][14][15][16][17][18][19][20][21][22][23][24]

About SwapRum

"Next Generation Decentralized Exchange"

"Swaprum is a next-generation decentralized exchange with a range of trading tools and potential earnings of up to 100% APY. Explore limitless possibilities in the world of DeFi with Swaprum."


The Swaprum application was promoted as a way that one could obtain free Arbitrum tokens[25].

Claim Tokens For Free

Free ARB tokens for everyone

Join Swaprum Free Pool and get free ARB tokens every day! Become a part of the platform's community and earn cool rewards with your friends. Read the detailed terms below.

"Swaprum (@Swaprum) on Arbitrum rugged by its founders for ~$3M"

"The deployer of Swaprum utilized a backdoor function, add(), to steal LP tokens staked by users

Following the theft, liquidity was swiftly stolen from the pool by the deployer"

"Then, the deployer of Swaprum transferred all the funds to Ethereum network using cross chain bridges such as @MultichainOrg, @AcrossProtocol, and @CelerNetwork. After successfully bridging 1620 $ETH through these platforms, he funneled it into @TornadoCash."

"At this time @Swaprum has deleted all their social media accounts and groups."

"As a result of this rugpull, the token $SAPR has plummeted by 100%. The scammers managed to escape with approximately 1,628 ETH, equivalent to around $2.95 million."

"CertiK AGAIN! Why in the hell are these degens giving such "projects" money? It's frustrating to see all these scammers since 2010, hello braincell."

This is a global/international case not involving a specific country.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

  • Known history of when and how the service was started.
  • What problems does the company or service claim to solve?
  • What marketing materials were used by the firm or business?
  • Audits performed, and excerpts that may have been included.
  • Business registration documents shown (fake or legitimate).
  • How were people recruited to participate?
  • Public warnings and announcements prior to the event.

Don't Include:

  • Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
  • Anything that wasn't reasonably knowable at the time of the event.

There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.


The interface provided users with a balance in ARB, and claimed that withdrawals would be processed after 0.5 ARB were accumulated[26][27].

Multiple users on Twitter expressed support and excitement for the project[28][29][30], while others helped to promote it[27][31][32]. In fact, it was reported that the Telegram account of the project was full[33].

good project...and good investasi.....bravo @Swaprum

Good project And the second draw but mining has stopped

The Reality

This sections is included if a case involved deception or information that was unknown at the time. Examples include:

  • When the service was actually started (if different than the "official story").
  • Who actually ran a service and their own personal history.
  • How the service was structured behind the scenes. (For example, there was no "trading bot".)
  • Details of what audits reported and how vulnerabilities were missed during auditing.

Limitations of Interface

There were multiple reports prior to the rug pull of issues with the provided Swaprum interface[34][26], including failures to load the website[25] and a reported inability to withdraw funds[33][35][36][37][38].

Why does the claim not accumulate in the balance section?

Why hasn't the token been deposited into my wallet after a few days of requesting a withdrawal?

I want you to help, even in withdrawing, there is a pending order.

Warnings About Scam

Several users warned about the potential that this project may be a scam[37][39][40].

Bro dont pay scam site withdrawal transaction dont work 100% scam

you will regret when you deposit money into a project that smells like a scam

What Happened

The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.

Key Event Timeline - SwapRum Rug Pull
Date Event Description
May 17th, 2023 10:44:00 AM MDT Telegram Reportedly Full Twitter user AyodeleSammylee reports that the Telegram account of the Swaprum project is full. The majority of messages visible appear to be users attempting to withdraw their funds[33].
May 17th, 2023 7:52:00 PM MDT
May 17th, 2023 3:45:00 PM MDT Website Bad Request Reported Twitter user Aryo Bagas reports that the mobile application is giving a "Error Bad request, check internet" code[25].
May 17th, 2023 11:15:00 PM MDT Warning From Damicale [41]
May 18th, 2023 9:52:12 AM MDT Liquidity Drained Transaction to drain liquidity.
May 18th, 2023 9:48:00 PM MDT PeckShield Alert Triggered A PeckShield alert is triggered. The alerts is retweeted by the Web3 Watchdog[42] and pSquare_Daily[43]. TBD get actual alert.
May 19th, 2023 12:05:00 AM MDT Twitter Account Deactivation It's reported that Swaprum Finance has deactivated their Twitter account[44].
May 19th, 2023 12:06:00 AM MDT Cyvers Alerts For Rug Pull Cyvers Alerts reports the rug pull mint and that the Twitter account has been deleted[45]. TBD more analysis of CyversAlerts
May 19th, 2023 12:13:00 AM MDT Cyvers Alerts For Funds Transfered Crvers Alerts reports that the funds have moved in the blockchain[46] along with the attacker's address[47].
May 19th, 2023 12:22:00 AM MDT ChainAegis Reports Rug Pull A ChainAegis alert is generated on Twitter to report on the rug pull[48].
May 19th, 2023 2:10:00 AM MDT Blin Analytics Report Blin Analytics reports on the situation on Twitter[49].
May 19th, 2023 2:29:00 AM MDT Sending Messages Blocked It's reported on Twitter that sending messages within the Swaprum Telegram group is no longer possible[50].
May 19th, 2023 2:53:00 AM MDT Beosin Alert Published Beosin publishes an alert on Twitter about the situation[51].
May 19th, 2023 4:01:00 AM MDT Hacken Report on Twitter Describe the event. The Hacken report is later referenced by Gagarin News[52].
May 19th, 2023 4:36:00 AM MDT The Block Article The Block publishes an article on the situation[53]. TBD get summary. This is crossposted by Token Metrics[54] and CryptoPanic/CryptaiaTech[55].
May 19th, 2023 4:56:00 AM MDT Because Bitcoin Article The Because Bitcoin shares the breaking news[56], and later links to an article they wrote on the situation, which includes a full screenshot of what the Swaprum website looked like when it was operating[57][58].
May 19th, 2023 5:17:00 AM MDT Numen Cyber Analysis Published Numen Cyber publishes an analysis of the events in Twitter[59].
May 19th, 2023 5:25:00 AM MDT Perseus Crypto News Article Perseus Crypto publishes a news article on the situation[60][61].
May 19th, 2023 6:20:00 AM MDT CryptoPolitan Article Crossposted by Daily Web3 News[62].
May 19th, 2023 7:46:00 AM MDT Swaprum Adding Liquidity A Twitter post claims that the Swaprum project is adding liquidity[63]. TBD explain this in the context - the project already rugged?
May 19th, 2023 8:11:00 AM MDT Majed Summary Published Twitter user Majed Maddev reports on the Swaprum exit scam[64].
May 19th, 2023 9:01:00 AM MDT Wisper Crypto Summary Published Wisper Crypto publishes a summary on Twitter[65].
May 19th, 2023 10:17:00 AM MDT Crypto Potato Article Crypto Potato published an article about the situation[66][67]. TBD fill in more details.
May 19th, 2023 10:34:00 AM MDT Crypto Purity Article Crypto Purity reports on the situation[68]. TBD more summary[69].

Technical Details

This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

[70]

Attacker's Address: [47]

Cyvers Alerts Analysis

An analysis was shared by Cyvers Alerts through a series of tweets[45][46].

RUGPULL Dev exploits @swaprum by creating a fresh token contract for #Swaprum  Token, resulting in a massive $1M rug pull. This enabled the minting of 200,000,000 $SAPR tokens.️ Moreover, @Swaprum's Twitter profile has mysteriously vanished. Stay vigilant!

$241,000 worth of assets were affected. USDT/WETH pool USDT/USDC pool $280,000. ARB/WETH pool - $280,000, ARB/USDC pool - $126,000, WOM/USDT pool - $49,000,

8 days ago, the scammer minted a staggering 800,000 $SAPR tokens from the multisig wallet.

In another move, the scammer took a direct step and removed liquidity from the SAPR/WETH pool, acquiring 500,000 $SAPR tokens and $94,000 worth of $WETH.

Scammer successfully exploited SAPR Controller Proxy, generating a staggering 200,000,000 $SAPR tokens in just two transactions.

In a final blow, the scammer emptied the SAPR/WETH pool using the $SAPR tokens.

Beosin Alert Analysis

Beosin published an alert about the situation on Twitter[51].

Swaprum on Arbitrum rugged for ~$3M.

The deployer of Swaprum used the add() backdoor function to steal LP tokens staked by users, then removed liquidity from the pool for profit.

2/ The project has upgraded the the normal liquidity collateral reward contract to a contract containing backdoor functions.

3/ The backdoor function add() will transfer LP tokens from the contract to the _devadd address. By querying the _devadd address, it will return the ‘Swaprum:Deployer’ address.

4/ The Swaprum: Deployer uses the stolen LP tokens in the previous step to remove liquidity.

1,620 $ETH has already sent to Tornado Cash.

Numen Cyber Summary

Numen Cyber shared a summary on Twitter[59]. They also provided the scammer's address[71] and fund transfer address[47].

#Arbitrum's Swaprum was rugged by its team for 1,629 $ETH (~$2.95mil)

The token $SAPR has plummeted by 100%

Swaprum has also deleted all its social media accounts

The scammer has transferred all the $ETH to #Ethereum & moved it to [TornadoCash].

WisperCrypto Summary

WisperCrypto published a summary of the situation[65].

Breaking News!

  1. Swaprum DEX On #Arbitrum Rug Pulls $3M, SAPR Token Crashes 100%

In a shocking turn of events, the decentralized exchange #Swaprum operating on Ethereum Layer 2 network #Arbitrum has orchestrated a treacherous exit scam, leaving users devastated and questioning the safety of the crypto industry.

The Swaprum team slyly removed the liquidity tied to their native coin, SAPR, causing a significant drop in its price. Unsuspecting investors were left holding worthless tokens, resulting in a loss of approximately 1,628 ETH ($3M) in user deposits.

To further obfuscate the stolen funds, the Swaprum team transferred them to Ethereum and employed the notorious ETH mixer service Tornado Cash. This service masks the transaction trail, making it difficult for authorities to trace the flow of funds

The deceitful team swiftly deleted their social media presence on Twitter, Telegram, and GitHub, leaving users without any means of contact. However, the project's official website, which served as the interface for the protocol, is still accessible.

Subsequent investigations by Beosin's security analysts revealed that Swaprum's smart contract contained a covert backdoor mechanism, raising concerns about the project's intentions from the start.

This incident adds to the growing list of crypto scams, highlighting the urgent need for increased security and regulation within the industry. Investors must remain vigilant and exercise caution when engaging with decentralized platforms.

Total Amount Lost

The total amount lost has been estimated at $2,950,000 USD.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

Cyvers Alerts Analysis

The Cyvers Alerts team published their analysis of the loss as:

These add up to a total of $1070k.

Immediate Reactions

How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

Reactions on Twitter

The news was widely reported on Twitter[44][80][81][82][83][84][85][86][87][88][89][90][91][92][93][94].

swaprum finance deactivate their twitter account?

Important Alert! Crypto traders, beware! Swaprum, an exchange on Arbitrum network, has been exposed as a decentralized scam. The team behind it has shamelessly withdrawn approximately $3 million from customer deposits

Breaking: Swaprum #DEX On #Arbitrum Rug Pulls $3M, SAPR Token Crashes 100%

Just got rugged on Swaprum. Site and discord is still up. A lot of work for 1 million

JUST IN: Swaprum, a decentralized exchange (DEX) built on @arbitrum ruggpulls with $3 million users deposit. According to blockchain security firm PeckShield, the team has already laundered part of the funds on Tornado Cash.

The #Swaprum rug pull has left investors devastated with a jaw-dropping $3 million loss in this #defi scam. As a social media marketer, I urge everyone to stay vigilant while investing in the crypto market. Like and retweet to spread the word!

@Swaprum he deceived us all, we fulfilled all the conditions, but they threw us .. do not believe this is ophirists

A week ago I reported a bug, which they never paid for, it was obvious from afar that it was a trap. the truth is that they made a well-organized trap

I know from the start Swaprum was a scam project just after visiting their token page on @CoinMarketCap since it clearly had a warning sign of a rugged token. Ironically I joined their group to get free ARB but after I posted about their token they kicked me out lol.

I did not withdraw my airdrop earnings on #Swaprum I also bought $SAPR with 0.01eth and added, but my withdrawal request does not occur on the gas-sufficient leg and I noticed that the value of the $SAPR token has also decreased. His Twitter account has also been disabled. Guess we got scammed

Backlash Against CertiK Auditor

There was considerable backlash against CertiK for approving the team's smart contract[95][96][97][98].

Wtf @CertiK ? Did they bought the audit?

it seems @swaprum has rugpulled! there is a certik audit on their site! ty...

It seems that project #Swaprum tricked us and just made a rugpull. Personally, I'm devastated because I put some in there. In addition, the project passed a positive audit @CertiK (they are probably worthless now) and really looked legit.

Ultimate Outcome

What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

Audit Security Score Updated

The security score of the Swaprum project on CertiK was updated to "Exit Scam" status[70].

Total Amount Recovered

There do not appear to have been any funds recovered in this case.

What funds were recovered? What funds were reimbursed for those affected users?

Ongoing Developments

What parts of this case are still remaining to be concluded?

Individual Prevention Policies

Avoid the use of smart contracts unless necessary. Minimize the level of exposure by removing or withdrawing assets whenever possible. Aim to choose smart contracts which have obtained third party security audits, preferably having been audited by at least three separate reputable firms. Pay attention to the audit reports, which smart contracts are covered, and whether the smart contract has been upgraded or modified since the report. Ensure that any administrative functions with the ability to remove funds from the smart contract are under the authority of a multi-signature wallet which is controlled by at least three separate and reputable entities.

For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.

Platform Prevention Policies

All aspects of any platform should undergo a regular validation/inspection by experts. This validation should include a security audit of any smart contracts, reporting any risks to the backing (of any customer assets, ensuring treasuries or minting functions are properly secured under the control of a multi-signature wallet, and finding any inadequacies in the level of training or integrity of the team. The recommended interval is twice prior to launch or significant system upgrade, once after 3 months, and every 6 months thereafter. It is recommended that the third party performing the inspection not be repeated within a 14 month period.

For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.

Regulatory Prevention Policies

All platforms should undergo published security and risk assessments by independent third parties. Two assessments are required at founding or major upgrade, one after 3 months, and one every 6 months thereafter. The third parties must not repeat within the past 14 months. A risk assessment needs to include what assets back customer deposits and the risk of default from any third parties being lent to. The security assessment must include ensuring a proper multi-signature wallet, and that all signatories are properly trained. Assessments must be performed on social media, databases, and DNS security.

For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.

References

  1. ↑ SlowMist Hacked - SlowMist Zone (May 19, 2023)
  2. ↑ @hackenclub Twitter (May 19, 2023)
  3. ↑ @hackenclub Twitter (May 19, 2023)
  4. ↑ Arbitrum Transaction Hash (Txhash) Details | Arbiscan (May 19, 2023)
  5. ↑ @Sebasti04989541 Twitter (May 19, 2023)
  6. ↑ @cryptoemprende_ Twitter (May 19, 2023)
  7. ↑ @Lucas75831804 Twitter (May 19, 2023)
  8. ↑ @AnciliaInc Twitter (May 19, 2023)
  9. ↑ @Jessiedegens Twitter (May 19, 2023)
  10. ↑ @MetaSleuth Twitter (May 19, 2023)
  11. ↑ @Damicale_s Twitter (May 19, 2023)
  12. ↑ @MartiniGuyYT Twitter (May 19, 2023)
  13. ↑ @PeckShieldAlert Twitter (May 19, 2023)
  14. ↑ @Damicale_s Twitter (May 19, 2023)
  15. ↑ @DeDotFiSecurity Twitter (May 19, 2023)
  16. ↑ @TheBlock__ Twitter (May 19, 2023)
  17. ↑ @Musiclo62847240 Twitter (May 19, 2023)
  18. ↑ @saito_pickNEWS Twitter (May 19, 2023)
  19. ↑ @jinyachao1999 Twitter (May 19, 2023)
  20. ↑ @taka__crypto Twitter (May 19, 2023)
  21. ↑ @huntershannoHS Twitter (May 19, 2023)
  22. ↑ @moff_coin Twitter (May 19, 2023)
  23. ↑ @WhaleCoinTalk Twitter (May 19, 2023)
  24. ↑ @waleedmahmoud99 Twitter (May 19, 2023)
  25. ↑ 25.0 25.1 25.2 AryoBagas9 - "funny" "Error Bad request, check internet" - Twitter (May 19, 2023)
  26. ↑ 26.0 26.1 Sanjeev08818841 - "What is this" - Twitter (May 19, 2023)
  27. ↑ 27.0 27.1 blm_crypto - "$SAPR stakeしてたから1.5 $ARB /hになった" - Twitter (May 19, 2023)
  28. ↑ Parhan235 - "good project...and good investasi.....bravo @Swaprum" - Twitter (May 19, 2023)
  29. ↑ aloponaf - "@Swaprum amazing payment" - Twitter (May 19, 2023)
  30. ↑ Brahmi1973 - "Good project And the second draw but mining has stopped" - Twitter (May 19, 2023)
  31. ↑ datedata51 - "Join the best Yield #Farming pools and earn high APR" - Twitter (May 19, 2023)
  32. ↑ AlabasiMamoun - "Join the best Yield #Farming pools and earn high APR" - Twitter (May 19, 2023)
  33. ↑ 33.0 33.1 33.2 AyodeleSammylee - "Telegram account is full" - Twitter (May 19, 2023)
  34. ↑ Khuongeyeless - "Why does the claim not accumulate in the balance section?" - Twitter (May 19, 2023)
  35. ↑ mohsencng - "Why hasn't the token been deposited into my wallet after a few days of requesting a withdrawal?" - Twitter (May 19, 2023)
  36. ↑ hayatkhan6931 - "I want you to help, even in withdrawing, there is a pending order." - Twitter (May 19, 2023)
  37. ↑ 37.0 37.1 dariush72249709 - "Bro dont pay scam site withdrawal transaction dont work 100% scam" - Twitter (May 19, 2023)
  38. ↑ djkhileshraj - "Hello sir swaprum website se ARB token withdraw nhi ho rha hai trust wallet me please give me any solution." - Twitter (May 19, 2023)
  39. ↑ Lun68251148 - "you will regret when you deposit money into a project that smells like a scam" - Twitter (May 19, 2023)
  40. ↑ Damicale_s - "This morning I try to tell people stay away" - Twitter (May 19, 2023)
  41. ↑ https://twitter.com/Damicale_s/status/1659065101004029958 (May 30, 2023)
  42. ↑ web3_watchdog - "PeckShieldAlert: #PeckShieldAler #rugpull @Swaprum on #Arbitrum rugged ~$3M, $SAPR has dropped -100%" - Twitter (May 19, 2023)
  43. ↑ pSquare_Daily - "Swaprum (Arbitrum DEX) Pulls Exit Scam, Team Disappears With $3 Million, Twitter Account Deleted" - Twitter (May 19, 2023)
  44. ↑ 44.0 44.1 la_marziaa - "swaprum finance deactivate their twitter account?" - Twitter (May 19, 2023)
  45. ↑ 45.0 45.1 CyversAlerts - "RUGPULL Dev exploits @swaprum by creating a fresh token contract for #Swaprum  Token, resulting in a massive $1M rug pull. This enabled the minting of 200,000,000 $SAPR tokens.️ Moreover, @Swaprum's Twitter profile has mysteriously vanished." - Twitter (May 19, 2023)
  46. ↑ 46.0 46.1 CyversAlerts - "ALERT @swaprum hacker has bridged the all stolen funds to #Ethereum and deposited 1620 #ETH ($3M) already deposited via @TornadoCash." - Twitter (May 19, 2023)
  47. ↑ 47.0 47.1 47.2 Swaprum Rug Pull Attacker's Address - Etherscan (May 29, 2023)
  48. ↑ ChainAegis - "According to the security monitoring of @ChainAegis, an analysis platform on the SharkTeam, Rug Pull occurred in the Arbitrum ecological Swaprum project" - Twitter (May 19, 2023)
  49. ↑ Blin Analytics - "@Swaprum was rugged on @arbitrum network. 1620 $ETH (~ $2.7M) was bridged to Ethereum network and deposited to @TornadoCash." - Twitter (May 19, 2023)
  50. ↑ YunasMF - "Yes you right" - Twitter (May 19, 2023)
  51. ↑ 51.0 51.1 Beosin Alert - "Swaprum on Arbitrum rugged for ~$3M. The deployer of Swaprum used the add() backdoor function to steal LP tokens staked by users, then removed liquidity from the pool for profit." - Twitter (May 19, 2023)
  52. ↑ NewsGagarin - "For more details on how #Swaprum defrauded its users, read through this thread" - Twitter (May 19, 2023)
  53. ↑ Swaprum DEX team disappears with $3 million in apparent exit scam - The Block (May 19, 2023)
  54. ↑ Token Metrics - "BREAKING: Swaprum DEX Team Absconds with $3M: Suspected Exit Scam on Arbitrum Network" - Twitter (May 19, 2023)
  55. ↑ CryptaiaTech - "Swaprum DEX team disappears with $3 million in apparent exit scam on Arbitrum network" - Twitter (May 19, 2023)
  56. ↑ BecauseBitcoin - "JUST IN: In what appears to be an exit scam on the Arbitrum $ARB network, the #Swaprum DEX team vanishes" - Twitter (May 19, 2023)
  57. ↑ BecauseBitcoin - "Read the full article here" - Twitter (May 19, 2023)
  58. ↑ Swaprum DEX Team Vanishes in Apparent $3 Million Exit Scam on Arbitrum Network - BecauseBitcoin (May 29, 2023)
  59. ↑ 59.0 59.1 Numen Cyber - "#Arbitrum's Swaprum was rugged by its team for 1,629 $ETH (~$2.95mil) The token $SAPR has plummeted by 100% Swaprum has also deleted all its social media accounts" - Twitter (May 19, 2023)
  60. ↑ Perseus_Crypto_ - "Breaking News: Swaprum DEX allegedly pulls off a $3 million exit scam on Arbitrum Network, leaving users in disbelief. " - Twitter (May 19, 2023)
  61. ↑ Swaprum DEX Allegedly Executes $3 Million Exit Scam on Arbitrum Network - Perseus Crypto News (May 29, 2023)
  62. ↑ DailyNewsWeb3 - "Decentralized Exchange Platform Loses $3 Million in Scam" - Twitter (May 19, 2023)
  63. ↑ 0xEpica - "Swaprum added liquidity into $SAPR token. This aims to achieve the following goals" - Twitter (May 19, 2023)
  64. ↑ MajedMaddev - "Swaprum, a decentralized exchange on the Ethereum Layer 2 network Arbitrum, appears to have executed an "exit scam" commonly referred to as a "rug pull," absconding with an estimated $3 million in user deposits." - Twitter (May 19, 2023)
  65. ↑ 65.0 65.1 Wisper Crypto - "Breaking News! #Swaprum DEX On #Arbitrum Rug Pulls $3M, SAPR Token Crashes 100%" - Twitter (May 19, 2023)
  66. ↑ Crypto_Potato - "The platform's native token, expectely, dumped by over 99% in hours." - Twitter (May 19, 2023)
  67. ↑ Swaprum DEX Drained in $3M Crypto Rugpull - Crypto Potato (May 30, 2023)
  68. ↑ TheCryptopurity - "$3 million Crypto Rugpull Drains Swaprum DEX" - Twitter (May 19, 2023)
  69. ↑ $3 million Crypto Rugpull Drains Swaprum DEX - Crypto Purity (May 24, 2023)
  70. ↑ 70.0 70.1 Swaprum - CertiK Skynet Project Insight (May 19, 2023)
  71. ↑ Scammer's Address - Arbiscan (May 30, 2023)
  72. ↑ 72.0 72.1 CyversAlerts - "$241,000 worth of assets were affected. USDT/WETH pool USDT/USDC pool $280,000." - Twitter (May 29, 2023)
  73. ↑ Transaction Emptying The USDT/USDC Pool - Arbiscan (May 29, 2023)
  74. ↑ 74.0 74.1 74.2 CyversAlerts - "ARB/WETH pool - $280,000, ARB/USDC pool - $126,000, WOM/USDT pool - $49,000," - Twitter (May 29, 2023)
  75. ↑ Transaction Emptying The ARB/WETH Pool - Arbiscan (May 29, 2023)
  76. ↑ Transaction Emptying The ARB/USDC Pool - Arbiscan (May 29, 2023)
  77. ↑ Transaction Emptying The WOM/USDT Pool - Arbiscan (May 29, 2023)
  78. ↑ CyversAlerts - "In another move, the scammer took a direct step and removed liquidity from the SAPR/WETH pool, acquiring 500,000 $SAPR tokens and $94,000 worth of $WETH." - Twitter (May 29, 2023)
  79. ↑ Transaction Emptying The SAPR/WETH Pool - Arbiscan (May 29, 2023)
  80. ↑ Beyond_Karto - "Important Alert! Crypto traders, beware! Swaprum, an exchange on Arbitrum network, has been exposed as a decentralized scam. The team behind it has shamelessly withdrawn approximately $3 million from customer deposits" - Twitter (May 19, 2023)
  81. ↑ web3wiser - "Breaking: Swaprum #DEX On #Arbitrum Rug Pulls $3M, SAPR Token Crashes 100%" - Twitter (May 19, 2023)
  82. ↑ winnerill - "Just got rugged on Swaprum. Site and discord is still up. A lot of work for 1 million" - Twitter (May 19, 2023)
  83. ↑ Beyond_bitcoin1 - "JUST IN: Swaprum, a decentralized exchange (DEX) built on @arbitrum ruggpulls with $3 million users deposit." - Twitter (May 19, 2023)
  84. ↑ DeFiVisionary - "The #Swaprum rug pull has left investors devastated with a jaw-dropping $3 million loss in this #defi scam." - Twitter (May 19, 2023)
  85. ↑ Kirill186186 - "@Swaprum he deceived us all, we fulfilled all the conditions, but they threw us .. do not believe this is ophirists" - Twitter (May 19, 2023)
  86. ↑ Rotciv - "A week ago I reported a bug, which they never paid for, it was obvious from afar that it was a trap. the truth is that they made a well-organized trap" - Twitter (May 25, 2023)
  87. ↑ Rean Schwarzer - "I know from the start Swaprum was a scam project just after visiting their token page on @CoinMarketCap since it clearly had a warning sign of a rugged token. Ironically I joined their group to get free ARB but after I posted about their token they kicked me out lol." - Twitter (May 25, 2023)
  88. ↑ _Koinbul_ - "Swaprum DEX team disappears with $3 million in apparent exit scam on Arbitrum network" - Twitter (May 19, 2023)
  89. ↑ MNAThu0105 - "Swaprum DEX Drained in $3M Crypto Rugpull 9min ago by." - Twitter (May 19, 2023)
  90. ↑ esatoshiclub - "Approximately 1,628 #ETH, equivalent to $3M, was siphoned off from the platform's #Liquidity pools" - Twitter (May 19, 2023)
  91. ↑ mueb2eth - " did not withdraw my airdrop earnings on #Swaprum I also bought $SAPR with 0.01eth and added, but my withdrawal request does not occur on the gas-sufficient leg and I noticed that the value of the $SAPR token has also decreased. His Twitter account has also been disabled. Guess we got scammed "T- witter (May 19, 2023)
  92. ↑ vadymnikolskyi1 - "Why the eternal conclusion?" - Twitter (May 19, 2023)
  93. ↑ cryptokere - "@Swaprum is now gone, they run away with 1205 #ETH" - Twitter (May 19, 2023)
  94. ↑ CryptoSavingExp - "Arbitrum DEX #Swaprum rug pulls, drains $3m in liquidity Stay safe out there" - Twitter (May 19, 2023)
  95. ↑ JuanP_marin - "Wtf @CertiK ? Did they bought the audit?" -Twitter (May 19, 2023)
  96. ↑ rnsahin - "it seems @swaprum has rugpulled! there is a certik audit on their site! ty..." - Twitter (May 19, 2023)
  97. ↑ MTomczak_org - "It seems that project #Swaprum tricked us and just made a rugpull. Personally, I'm devastated because I put some in there. In addition, the project passed a positive audit @CertiK (they are probably worthless now) and really looked legit." - Twitter (May 19, 2023)
  98. ↑ Marcin_K88 - "@CertiK Did @Swaprum was just rugged and LP was stolen?" - Twitter (May 19, 2023)

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