Sudorare disappears with over 500 Ethereum tokens, raising questions about the safety of the investor

Sudorare, a data analytics and a blockchain security company, has reportedly disappeared with more than 500 Ethereum tokens, creating serious issues for the Digital market place

• Sudorare vanishes with more than 500 Ethereum tokens
• Serious issues created due to the disappearing of the company
• Kraken Exchange into the scheme of things
• Crypto crime and NFT crime persists to be the root cause for disruptions in their markets respectively

Sudorare vanishes with more than 500 Ethereum tokens

Let’s try and visit the social media profile of social media, via the link.

We find that the twitter channel of the company has been deleted. According to the reports, its found that, Sudorare has been involved in a serious crime, as it has disappeared with almost 520 Ethereum tokens, which are valued at around $815K. The incident has raised serious questions about the security of the investor in the market space. Hacks, scams and frauds continue to wreak a havoc in the market.

Serious issues created due to the disappearing of the company

As we saw above, the company has deleted all its social media accounts and vanished with all the Ethereum tokens in hands. This incident has caused serious damage in the already volatile market, and has raised questions about the safety of the investors. Let’s look at a tweet put up about the news

#PeckShieldAlert #rugpull Seems like @SudoRare rugged 519 $ETH (~$815k).
SudoRare already deleted its social accounts/groups, sudorare[.]xyz is down
Stole funds already transferred to 3 new addresses (173 $ETH/address):
0x75c3b2…3981
0x0498d1…8074
0xbFb784…7EAa https://t.co/mPC4bl4k6W pic.twitter.com/O5D7jThYvm

— PeckShieldAlert (@PeckShieldAlert) August 23, 2022

 It is noted from the tweet that, the company went on to delete the social media channels and transferred the stolen funds into three new addresses. It was also reported that, a user from Kraken Exchange might be the main culprit

The scamster rumored to be a user of Kraken Exchange

As money was deposited to the user’s wallets, PeckShield said on Twitter that the “actor” behind the apparent SudoRare rug pull is a Kraken exchange user. On August 21, a Kraken customer financed an Ethereum wallet with the ID 0x814 according to Etherscan data. Then, 0.28 ETH were sent from that wallet to the 0xbb4 account.

The crimes in the market are growing to be the root cause for disruptions

According to me, the increasing incidents of the cryptocurrency crimes or NFT crimes are the major reasons for the disruptions that’s occurring in their respective markets. Some of the recent instances that shook the entire market were the hack of over $600 million from Axie Infinity, robbing Nomad, a cross chain bridge, off $200 million.

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