Followup article: Proving War on Rugs Still Has Ties to “FAIRMOON Scammers”
Highlights
- Give a quick recap of the “FAIRMOON incident” and the scam that took place.
- Prove that War on Rugs is still in contact with the scam wallets’ owner(s).
Quick recap of “FAIRMOON incident”
Earlier we wrote an article going into detail on the timeline and major happenings of the “FAIRMOON incident”. Here we will only give a quick recap:
- FairMoon launched March 27 and was a project run by a dedicated team together with War on Rugs as a partner.
- Directly after listing to PancakeSwap a wallet bought 500 million FAIRMOON tokens, or about 10% of the supply.
- These 500 million tokens were distributed to a network of wallets.
- These wallets facilitated both a burn and giveaway event announced by the FairMoon team.
- The wallets were provably tied to FairMoon team.
- The FAIRMOON contract code contained a bug that would later be announced by War on Rugs on Twitter.
- In the days leading up to this bug announcement, the network of wallets sold 1.8 million USD worth of FAIRMOON tokens. This was apparently on inside information.
- The funds from this selling activity were distributed into many wallets and also Binance deposit accounts.
- No effort were made either by FairMoon or War on Rugs to trace down the funds.
War on Rugs’ PancakeSwap Tweet
On April 20 War on Rugs posted this tweet on their main Twitter account. The tweet was deleted soon after publishing, but we were able to retrieve an archive link for it. The motivation for deleting the tweet is unknown.
The tweet was about them receiving a message from someone claiming they swapped FAIRMOON for BNB, but never received the BNB. Looking at the transaction itself we can see that it acted as expected. The user just swapped for WBNB and not “regular” BNB. For this reason it may be the user did not understand what happened and contacted War on Rugs for help.
However, this is not the reason why the tweet is of interest. In our previous article we proved a network of wallets had sold 1.8 million USD worth of FAIRMOON tokens on inside information. FAIRMOON and War on Rugs attributed this to a “Miley”-character, who supposedly ran off with the funds. For details around this please refer to our previous article.
If you view the archived War on Rugs tweet, or view the transaction itself above, you will see that the wallet in question has this address: “0xe7db38f29c521450f40967f30d3e9977380988a9”, which we will now refer to as “…88a9”.
…88a9’s activity in FAIRMOON v1
4 days after FAIRMOON listing, the …88a9-wallet received 4.8 million FAIRMOON tokens from the central wallet that was investigated in our previous article (tx link).
While this transaction can resemble a giveaway transaction (around 5m tokens), it is important to note that this happened several days before the giveaway was ever announced. We can also note that this wallet received 1BNB from another wallet tied to the network also mentioned in our previous article (tx link).
So the wallet mentioned in the tweet both received funds directly from the central wallet in the scam network and also from wallets associated with it. This proves that War on Rugs is still in contact with the owner(s) (or people associated) with the “scam wallets”.
Conclusion
In this short article we have shown that War on Rugs still has ties to the network of wallets that ran off with over 1.8 million USD from FairMoon’s liquidity.
