24/08/2022 NFT Exchange SudoRare Goes Dark After $820,000 Rug Pull

NFT Exchange SudoRare Goes Dark After $820,000 Rug Pull

Key Takeaways

  • NFT exchange SudoRare scammed users out of about $820,000 in various crypto tokens Tuesday.
  • Immediately after the incident, the anonymous developers behind the project deleted the exchange's website and disappeared from Twitter.
  • Blockchain security firm PeckShield has linked one of the attackers' wallets to the cryptocurrency exchange Kraken.

SudoRare was live for only six hours before executing the rug pull and taking down its website and all affiliated social media accounts.

SudoRare Disappears With $820,000

After numerous warnings that SudoRare could be a scam did the rounds on Crypto Twitter, the anonymous team behind the decentralized NFT exchange has pulled the rug. The theft has defrauded users of about $820,000 worth of ETH and other crypto tokens.

NBA legend Shaquille O’Neal signs $11M Astrals NFT settlement
NFTs weekly sales surge 94% as crypto market continues bullish run
Virtual Real Estate Plot on 'Decentraland' Sells as NFT For Over Rs 6 Crores

According toon-chain data, the incident occurred early Tuesday, only about six hours after SudoRare went live. The exchange, which was spun up as a fork of the NFT marketplacesLooksRareandsudoswapby an anonymous team,was supposed to allow users to create liquidity pools for NFT collections and collect fees by staking the project’s native token SR. However, soon after going live, the team “pulled the rug,” crypto terminology for stealing funds from users and disappearing without a trace. Shortly after making off with the $820,000, the platform’s website and Twitter disappeared.

The culprits behind the attackwithdrewabout $315,700 in WETH, $200,000 in XMON, and $314,700 worth of LOOKS tokens from the exchange before swapping the assets for ETH and moving the funds to three Ethereum wallets. Blockchain security firm PeckShield has traced the attacker to a wallet funded by the centralized exchange Kraken. “The actor behind SudoRare rugpull seems a @krakenfx user,” the firmsaidon Twitter today, providing on-chain evidence of the connection.

As a regulated U.S.-based exchange, Kraken is subject to “Know Your Customer” requirements that enforce compulsory identification checks of all of its customers. That means at least one person linked to the attack could be known to the exchange.

The theft occurred despite multiple warnings on Crypto Twitter that SudoRare could be a scam. “sudo rare is live but ppl staking into an upgradeable contract that points to a fork of master chef
 Can’t see any reason to need an upgradeable version of Masterchef as it’s really battle tested already
 stay safe as could be a scam,” one user going under Adampointed outon Twitter earlier today. The team pulled the rug a few hours later.

Arts

https://cryptobriefing.com/nft-exchange-sudorare-goes-dark-820000-rug-pull/

Interesting NFTs
The Complete MF Collection
THE COMPLETE MF COLLECTION by Beeple
#85150
By OthersideDeployer
Ocular Enhancement
"Future bio engineering will happen... it’s only a matter of time." Digital Art from Lestron 1/1, Single Edition TOOLS USED: Cinema 4D, Octane Render, After Effects ORIGINAL RESOLUTION: 1080x1350 FILE SIZE: 22,165,067 bytes
Who Is The Creator 2
The idea for this piece was borne out of a tweet of mine that caused a bit of a stir. I’d posted a link to a blog article I’d written a number of months previous titled ‘Who is the Creator’ discussing various types of creative collaborations and why I hire people to work on my animations. It generated a lot of debate around creation and attribution with the community split on whether it’s right or wrong for an artist to hire other professionals to help them realize their art projects. I decided to push the boundaries even further and see how the cryptoart community responded. What if I quite literally had nothing to do with the physical or digital elements of the work other than coming up with the concept and coordinating it? I decided there was one artist in the space who could add huge value to this idea on levels that none other could and so I gathered my courage and contacted the great JosĂ© Delbo to ask him if he’d be interested in a very unique collaboration. I explained to him that to make this piece ‘work’ he couldn't have any say in what I produced and moreover, he wouldn’t even be allowed to see the animation until it was dropped on MakersPlace. To my surprise, Mr Delbo agreed to my proposal. The animation tells the story of the creative process, which includes my roles as writer, director, and producer working with a team and making edits and changes ‘in real time’. The dialogue between myself and my ‘hired guns’ plays out in front of the viewer. The music written for the piece adds to the nostalgia of the comic book superhero theme but other elements such as the snapping and kicking of the pencil and the signing of my signature at the bottom incorporates further layers and challenges the viewer to ask important questions, such as, is the ‘Art’ the final animation (the creation) or is the ‘Art’ the concept/credit for the creation itself?
Source Code for the WWW
OWNER: Sir Tim Berners-Lee Sir Tim Berners-Lee, b. 1955 Source Code for the WWW 1990-1991 Work includes: Original archive of dated and time-stamped files containing the source code, written between 3 October 1990 and 24 August 1991. These files contain code with approximately 9,555 lines, the contents of which include implementations of the three languages and protocols invented by Sir Tim; HTML (Hypertext Markup Language); HTTP (Hyper Transfer Protocol); and URIs (Uniform Resource Identifiers), as well as the original HTML documents that instructed early web users on how to use the application Animated visualization of the code being written (Video, black & white, silent), lasting 30 minutes 25 seconds A Scalable Vector Graphics (SVG) representation of the full code (A0 841mm wide by 1189 mm high), created by Sir Tim from the original files using Python, with a graphic representation of his physical signature at lower right A letter written in the README.md file (in “markdown” format) by Sir Tim in June of 2021, reflecting upon the code and his process of creating it Non-fungible Token ERC-721 Minted on June 15, 2021, ed. 1/1 Smart Contract Address: 0x86ade256037d80d6d42df8df96d5be21cd25bd8f