Hack and scams are becoming an issue that continues to weigh on the legitimacy of the crypto industry. Even as the room increased vigilance and implemented security measures, Tsuzuki Inu crypto protocol stole millions of dollars from investors and exposed the issues of cryptocurrencies by subject; this meme and the dog theme.

RUG PULL ALERT: HD photo of the transaction IDs confirming the recent carpet pull #Tsuzuki Inu

Transactions: https://t.co/rsuAxzOL6c pic.twitter.com/BOkCiOPhE3

– Watcher.Guru (@WatcherGuru) November 21, 2021

This morning, Twitter users discovered that developer Tsuzuki Inu allegedly “carpeted” all of the liquidity of investors. Transaction history Etherscan shows that they swapped ERC-20 tokens for 265 packaged Ethereum and then converted them into USDC worth over $ 1,157,125.

The source: Etherscan.io

At the same time, TZKI’s value on CoinMarketCap has fallen nearly 97% and is trading at $ 0.0000000000002 at press time.

The source: Coinmarketcap

This token has been in circulation since March of this year and is applying as both a meme coin and a game token. They also plan to add play-to-earn features in the future, along with a DEX wallet that recently implemented free giveaways, possibly to increase the validity and price of the tokens. TZKI has a total supply of 1 trillion trillion with blocked liquidity.

Legal trap

To carry out the conspiracy, the developers lured investors to exchange their TZKI tokens for TZKI v2 tokens by sending them to the swap contract account, as screenshots from Telegram chats on Twitter show.

The source: Twitter

Since then, the protocol’s Twitter has been disabled while the Telegram channel has stopped responding. On Twitter, abandoned investors are actively searching for information or mourning while others try to identify those responsible. KOL Jared, believed to be the face of the protocol, has received death threats since then. Brothers speak that he was not a member of the admin team and instead fell victim to fraud.

“I just woke everyone up. Thread all of this together and see if you can find out what happened. I was an early investor and became part of the team. As soon as I understand what’s going on, I’ll try to get back to you. “

Some investors have also wondered whether legitimate exchanges like BitMart listed such a token and asked them to do so return lost investments. However, it turned out that at the request of the project team, BitMart had stopped all deposits and withdrawals from TZKI.

Twitter user Erdal Torun tweets:

“TZKI is really a carpet. Another sad day for the crypto industry! But who is making this request at BitMart Exchange?

Come on … FBI, Gary Gensler, Hester Peirce … you have a lot of power! Show us what to do with scammers! ”.

At a time when tokens like SHIB are growing like wildfire and play-to-earn games like Axie Infinity are on the rise, scams involving tokens that look like innocent candidates are becoming increasingly popular. The Tsuzuki Inu scam is reminiscent of the recent Squid Game token carpet drawing. The digital token, which was inspired by the hit Netflix series of the same name, collapsed a few days after its valuation rose thousands of percent and developers fled $ 3.38 million.

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