CondomSOL Rug Pull

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CondomSOL Website Prior To Presale

CondomSOL appeared poised to be the next great success story. Instead, the project rug pulled and didn't even deliver the promised tokens to investors. While many people were upset, there doesn't appear to be much interest in doing anything about the situation. A project called Future even recommended that the community launch a meme token anyway, however this didn't appear to gain any traction.

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

About CondomSOL

"Risk Factors Mutable metadata Single holder ownership: 67% Top 10 holders high ownership High ownership Low amount of LP Providers Low Liquidity: $4.47"

"Solana memecoin $CONDOM ( @condomsol ) raised 4,965 $SOL worth $906K in presale and rugged before launch."

"CondomSOL on Solana has exited, and its Twitter account is no longer accessible. The wallet associated with CondomSOL raised 4,965 SOL, equivalent to approximately $922,000."

"On April 4, 2024, CondomSOL on Solana exit scammed, with wallets associated with CondomSOL raising 4965 SOL, approximately $920,000. Currently, its official Twitter account has been deleted."

"We're fed up with fraudsters on Twitter thinking they're untouchable. We're currently taking steps to alert all CEX and DEX exchange platforms to red flag the CONDOM wallet that still holds 4,965 SOL"

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 - CondomSOL Rug Pull

Date	Event	Description
March 24th, 2024 8:42:21 AM MDT	First Website Capture	The first time the CondomSOL webstie was captured online.
March 25th, 2024 3:27:58 PM MDT	Video Warning	A YouTube video warns potential investors not to participate.
March 29th, 2024 9:24:49 AM MDT	Last Website Capture	The last time the CondomSOL website was online.
April 1st, 2024 4:08:02 AM MDT	Minting Transaction	The protocol minting transaction happens on the Solana blockchain.
April 3rd, 2024 3:15:15 PM MDT	Telegram Complaint	A Telegram complaint highlights an investors frustration after the project rugpulled more than $800k. He contemplates filing a police report.
April 3rd, 2024 3:50:00 PM MDT	Whale Insider Tweet	A Twitter account named WhaleInsider reports on the rug pull.
April 3rd, 2024 4:35:00 PM MDT	NippleBNB Tweet	A NippleBNB Tweet shares details about the SolanaSOL rug pull.
April 4th, 2024 2:48:28 AM MDT	Reddit Thread	A Reddit thread about the rug pull on SatoshiStreetBets. This is crossposted to CryptoCurrencyClassic but receives no engagement.
April 4th, 2024 3:56:52 PM MDT	CryptoPolitan Article	CryptoPolitan publishes an article on the rug pull.
April 5th, 2024 7:26:44 AM MDT	CryptoPolitan Short	CryptoPolitan puts together a short video about the CondomSol project. The video uses a large amount of stock video clips and talks about a project increase in scam victims in 2023 (which is a year prior).

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?

Total Amount Lost

The total amount lost has been estimated at $922,000 USD.

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

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

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

No specific policies for individual prevention have yet been identified in this case.

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

Platform Prevention Policies

Policies for platforms to take to prevent this situation have not yet been selected in this case.

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

Regulatory Prevention Policies

No specific regulatory policies have yet been identified in this case.

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