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ID:

swello-finance-949

Date:

Status:

Incident Count:

June 26, 2022

Verified

1

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REKT

Contributor:

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web3rekt.com

KYC By:

KYC:

No

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Audit By:

Audits:

None

Loss Amount:

214,872

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Recovered:

-

Rewards:

Currency:

USD, SWLO

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Binance Smart Chain

Assets

Token

Scams

Extended Method:

Rug pull

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Days in Operation:

86

(0.24 Years)

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Swello Finance reported that they were tricked by a fake profile of Kevin Cohen on Upwork to bring on a developer who in turn, supposedly, inserted some malicious code into the smart contract from which this person later utilized to transfer Swello tokens which later was swapped for 891 BNB.

According to the project team, the person worked on GaryVee’s VeeFriend NFT project and many other notable projects thus was deemed to be a good fit. The addresses from which the fund was sent to was not any one recognized by the project team. After investigating with Upwork, “Kevin Cohen” was a fake name and was booted off their platform shortly after the project team hired him, without notifying the project team.

Our team here at Web3REKT cannot believe a project team lacks this level of due diligence. APY for this project is also unachievable (paid 146,848% APY passively through $SWLO). All indicators point to a rug pull.

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