BSCCROP 1,000 BNB Presale Compromised by Unethical Developer
June 9, 2021 | Source: BSCCROP
SAINT VINCENT & The Grenadines, June 9, 2021 — On the 24th of May, BSCCROP had a very SUCCESSFUL public sale, reaching their 600 BNB soft cap within one hour. In addition, the BSCCROP Team closed the IDO raising an astounding 1,000 BNB.
Unfortunately after the launch, there was a rapid sell off, which is common with many IDOs but the Team noticed that the price continued to drop even after most of the Presale tokens were liquidated.
After careful digging and analyzing the smart contracts, they discovered that over 3% of their total supply of roughly 671,000 BSCCROP tokens were missing. After more digging the Team discovered that approximately 500,000 BSCCROP tokens had been exploited and sold without their knowledge, much to the chagrin of their faithful investors.
How Did This Happen?
BSCCROP used the BSCStarter platform to launch their IDO and subsequently there were approximately 671,000 unsold tokens. Instead of BSCCROP being able to claim the tokens, they were stolen by a rogue BSCStarter Developer who to our knowledge has since been terminated. The BSCStarter Team has cooperated so far and raised an olive branch, by buying back 686,000 BSCCROP tokens.
What Happens Next?
BSCCROP will redeploy our token contract and airdrop new tokens to all holders with a timestamp of June 9, 2021, 9 PM UTC. This process will take roughly 24 hours to complete but the end result will be a higher token price for our loyal holders, much closer to their initial investment.
BSCCROP CEO, Damon Willis stated, “I am in awe of the support from our community. It is very inspiring to build this amazing project with the support of these amazing people. We committed to providing you with a high quality project and that is exactly what we intend to do.”
Over the next 24 hours please be patient. Very soon, we will liquidate the remaining tokens in the present BSCCROP token contract in order to collect BNB to provide liquidity to the redeployed contract. Remember, the more BNB that we collect in the old contract, the more liquidity we can provide in the redeployed token contract.
Please do not sell any more tokens or buy any new tokens!