Ethereum Token OAI Sees Rug Pull
OAI which is an Ethereum token, has recently seen a rug pull. The executor of this rug pull, who has been recognized as 0x4f89 is said to have sold a massive 1,603,040,020,640,000 OAI tokens. And has bought about 85.38 WETH, which is about $301,600 in worth.
The rug pull fraudulent OAI token has a similar name as an authentic token. In general, a rug pull can be said to be a scam - in which the developers run away with the funds of their investors; completely leaving the project, and never coming back.
And in this particular case, the executor of the scam 0x4f89 sold an enormous amount of the OAI tokens, and this has left the investors with a token that has lost value tremendously.
This shows how risky it is to invest in cryptocurrencies that are not known. Or cryptocurrencies that aren't properly regulated. It's always recommended that investors do serious research, and be careful; especially when they're investing to tokens that aren't properly established.
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