- Project's native token has dropped -99.7% in value
- Centralized exchange MEXC decided to list DMA recently
Dragoma, a new project on Polygon, seems to have suffered a rug pull of an estimated $3.5 million according to PeckShield. The blockchain investigation platform tweeted early this morning:
Dragoma $DMA on Polygon rugged. $DMA has dropped -99.7%. The Dragoma website seems down and the social media channel deleted. The stolen funds seem deposited into centralized exchanges.
A would-be adventure game
Dragoma started operating some days ago. According to its creator, who is Texas-based Ken Graese according to a recent press release, it planned to be a Web3 adventure game incorporating social media and NFT elements alongside DMA, its native token.
Dragoma was based on GameFi and SocialFi. It was a move-to-earn app which required players to explore, develop, generate, and obtain DMA.
Listed on MEXC
Well-known centralized exchange MEXC decided to list DMA recently, a decision that was decidedly controversial, but which generated millions of dollars in trading volume regardless. Now, the project’s social media have been deleted and the site is unresponsive.
Token lost all of its value
The peak value of the DMA token was $1.78. This morning, it had lost 99.8%. The stolen funds seem to have been transferred to centralized exchanges according to blockchain sleuth PeckShield.
Crypto investors lost $8b to rug pulls last year
Blockchain analyst Chainalysis reported that crypto investors lost $8 billion to rug pulls last year. In June, Polygon-powered yield farm Polywhale Finance fell victim to a “soft rug” exit scam, with the creators stealing investors’ money.
Recently, Fantom and Polygon services were hit in a DNS attack that pointed victims to malicious websites.
