Reptilian Renegades had been a hotly anticipated mint, allowing the perpetrator to take advantage of that initial enthusiasm, but it seems there’s more to this story yet.
Rug With a Twist
Highly anticipated NFT collection Reptilian Renegades, supported by Hydra Launchpad and Magic Eden, has seen users fall victim to a rug.
A figure named Fuopoist, who is currently controlling the original Reptilian Renegades Twitter account, came out openly as the individual behind the apparent rug on May 19. The figure has also claimed to have been behind the Balloonsville debacle that saw a lot of people lose money.
On the other hand, Hydra Launchpad’s tone has been much more somber as the project released an official letter via Twitter in the aftermath of the development on May 19. The team confirmed that their CEO had been involved in ‘long, delicate’ and ‘dark’ discussions with the perpetrator, who reaffirmed his previous role in the Balloonsville rug.
“Rest assured that the team at Hydra Launchpad had protocols in place to safeguard the RR community as best as possible – our developers worked quickly behind the scenes to retrieve the mint authority, and our escrow system ensured that Hydra still holds our share of the mint proceeds. All secondary market royalties are now flowing into Hydra Launchpad wallets, and Fuopist cannot receive any further funds from this project,” the team communicated in the letter.
The damage to the launchpad’s reputation is, at the time of writing, considerable, but it does appear as though they have every intention of looking to earn users’ trust once more. The team hinted that Fuopist had not only caused financial harm but also manipulated community members and abused the network in his efforts to steal.
With so much hype surrounding both the NFT project and, indeed, Hydra Launchpad, the move could have a broad impact. The unexpected twist in this particular crypto narrative is how the perpetrator has conducted himself since coming clean.
Interestingly, the perpetrator has since attempted to position himself as some kind of ‘Batman’ figure that loathes those behind similar rugs. Though this claim is difficult to understand alongside their actions, there may possibly be another twist in this narrative as the Fuopist hinted at an anti-rug project.
A separate Hydra Launchpad account has been created for the project on which Hydra Launchpad has sole control. The original Reptilian Renegades project has been deleted.https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-2&features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NlbnNpdGl2ZV9tZWRpYV9pbnRlcnN0aXRpYWxfMTM5NjMiOnsiYnVja2V0IjoiaW50ZXJzdGl0aWFsIiwidmVyc2lvbiI6bnVsbH0sInRmd190d2VldF9yZXN1bHRfbWlncmF0aW9uXzEzOTc5Ijp7ImJ1Y2tldCI6InR3ZWV0X3Jlc3VsdCIsInZlcnNpb24iOm51bGx9fQ%3D%3D&frame=false&hideCard=false&hideThread=false&id=1527373134583992320&lang=en&origin=https%3A%2F%2Fwww.web3wire.news%2Fpost%2Fsolana-nft-creator-rugs-multiple-protocols&sessionId=f8858f59671925bec919b9dd6c04a3153e065551&theme=light&widgetsVersion=c8fe9736dd6fb%3A1649830956492&width=550px
Web3Wire will follow this developing narrative closely, with a particular eye on what the rug prevention facility will possibly throw up as this saga drums on.
What is Hydra Launchpad:
Hydra is the Next-Gen Exclusive Launchpad from Sea Shanties — Created by devs, for devs. The launchpad has announced three partners and is currently developing a website. Currently, 50% of all funds generated by Hydra will be allocated to their LP. The goal is to spread the Hydra brand by only working with the best teams and upcoming projects in the space. Further, the team wants to improve the quality of projects coming into the space and help empower those who have been in the ecosystem working to make Solana recognized and respected.
Where to find Hydra Launchpad:
Twitter |
Source : web3wire.news
