Throughout all the madness that happened on Tuesday, May 18, 2021, one thing that might have gone unnoticed is the rug pull done by WARONRUGS (WoR). The Twitter account started as a crypto watchdog calling out projects that could potentially rug pull investors, just rugged, pulled an apparent $2 million from their coin and a partnered coin.
On Tuesday, a person named Shappy, the apparent head of WoR took off with $2 million from RETH and FAIRMOON. Both coins were associated with WoR; RETH was a coin started by WoR after Vitalik donated $1 billion worth of SHIB, and FAIRMOON was a SAFEMOON copycat that WoR promoted. WoR said that FAIRMOON had “No backdoors or possible from the owner perspective.”
People learned about the rug when FAIRMOON tweeted out the news of Shappy betraying FAIRMOON and its hodlers. The effects of the rug were enormous as both coins became virtually worthless.
SHAPPY, EX LEADER OF WOR, HAS BETRAYED FAIRMOON AND RETH AND SCAMMED BOTH THE FAIRMOON AND WOR COMMUNITIES— FAIRMOON🌒 (@fairmooncoin) May 19, 2021
WE HAVE WORKED SO HARD TO MAKE A DIFFERENCE AND CULTIVATE A STRONG COMMUNITY, AND HE BETRAYED US.
WE ARE DEEPLY SORRY FOR THE LOSSES WE ARE ALL EXPERIENCING RIGHT NOW
In a now-deleted Twitter profile, WoR tweeted out the reasoning for the departure and rug pull.
It seems like WoR did this rug all to teach us a lesson about our greed.
Throughout WoR’s time on Twitter, they made many enemies by calling out suspicious coins that many had in their wallets. This led to many people celebrating and posting memes about the hypocrisy of WoR. One of the most vocal communities about this was the SAFEMOON because of the campaign WoR launched on the coin.
Safemoon holders laughing at everyone who followed War on Rugs pic.twitter.com/6Cznm8RPAd— Shade Meister (@PuffJiggli) May 19, 2021
One of the biggest criticisms about WoR is that most of the coins they did go after did not result in a rug pull. The effects of WoR advising against a coin were tremendous as their advisories could dampen a new project and would not allow them to grow.
The most disappointing thing about this whole situation is that WoR was trusted not only by us at the Gazette but by thousands of people worldwide. The Twitter account started as a great resource to help investors spot out sketching projects but turned to a toxic Twitter account complaining about SAFEMOON and Vitalik. This whole rug is a reminder that everyone is in it for themselves, and everyone should be looked at with a skeptical eye. The ironic thing about that lesson is that’s the whole reason why WARONRUGS rugged.