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Key Takeaways
- An analytics webiste called EtherWrapped launched an airdrop for active Ethereum users earlier today.
- The team used the airdrop as bait to lure traders into buying its token, and later sold off its share.
- YEAR has crashed to near zero and the team can not be traced.
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A new project called EtherWrapped airdropped a token then executed a rug pull on its community earlier today.
EtherWrapped Scams Community Following Airdrop
Another rug pull has hit Ethereum’s DeFi ecosystem.
A new project called EtherWrapped, which offered Ethereum users analytics on their transaction history, launched a token airdrop earlier this morning. Eligible Ethereum users could claim the project’s YEAR token from 02:30 UTC. The tokens were allocated according to users’ on-chain activity, meaning more active users received more tokens.
EtherWrapped announced the airdrop from a now-deleted Twitter account. The team, whose identities are unknown, also verified the token contract on Etherscan, which made it look genuine. It also followed two airdrops from OpenDAO and GasDAO that have launched over the last week, possibly in a bid to capitalize on the ongoing hype for new tokens. Over 4,500 users claimed the airdrop, and YEAR was soon available to trade on the decentralized exchange Uniswap.
Four hours after the token had launched, at around 06:00 UTC, the token’s price collapsed to near zero. Following the incident, several users claimed that the team…
