SheepSwap Finance Disappears

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SheepSwap Finance

The website is gone. It seems that the anonymous team would rather take the funds of users than build a decent service. It's not been determined exactly how much was taken.

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

About SheepSwap Finance

"Deflationary Animal Yield Farming on Binance Smart Chain."

"SheepSwap.finance was registered on Monday, March 15, 2021." "The domain has been registered at NameCheap, Inc."

RugDoc "received inbounds that may indicate high risks regarding to a project named SheepSwap. Privileged functionalities appear in those smart contracts and we wish [for] the community [to do your own research] before interacting with the dApp."

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 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.

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 - SheepSwap Finance Disappears
Date	Event	Description
March 17th, 2021 12:00:00 AM	First Event	This is an expanded description of what happened and the impact. If multiple lines are necessary, add them here.

Total Amount Lost

The total amount lost is unknown.

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

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?

Ultimate Outcome

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

Total Amount Recovered

It is unknown how much was recovered.

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?

Prevention Policies

SheepSwap was run by an anonymous team, and there was no accountability to ensure that anything was delivered. A simple and lightweight framework would ensure that projects could launch with less need for anonymity, and as a result, investors would not expect anonymity.