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Excited about high profits, many investors suffer heavy losses when they rush into projects with uncertain information.
What Happened to $TEDDY?
DRAC Network, a project positioning itself as a DeFi hub built on BNB Chain, with its main token $TEDDY and product Teddydoge.Finance, lost more than 10,000 $BNB and $2 million due to an alleged “soft rugpull” by the contract deployer.
Vulnerability security platform PeckShield reported the incident on July 25 on Twitter.
#PeckShieldAlert #rugpull TeddyDoge @DRAC_Network is soft rugpull. $Teddy has dropped -99.4%. The assets currently sit in https://t.co/3zu55iZAWX (accumulatively receive ~10k $BNB & 2m $BUSD) and are slowly transferred to @Binance pic.twitter.com/I48dWkLIOE
— PeckShieldAlert (@PeckShieldAlert) July 25, 2022
According to PeckShield, the contract deployer transferred a large amount of $TEDDY to their wallet, then pumped-and-dumped the price of the token, taking their gains to DEX PancakeSwap and selling them. Due to the sudden and overwhelming selling pressure, $TEDDY immediately plummeted more than 99% in 24 hours, according to CoinMarketCap data. (The project’s market cap currently sits at around $100.)
The DRAC Network development team said they would temporarily close the cross-chain bridge in response to what they called an “attack.”
“We should thank the guy who stole the money because he left behind the heat and community cohesion. This is something money can't buy. We never gave up on the project and our DRAC chain,” the DRAC Network development team said on Twitter.
The team said they will deploy a new token called $DRAC, that will be airdropped to holders of TEDDY tokens and TEDDY NFTs.
We will issue a new token, DRAC. At 8:00 on the 24th JUL and 3th AUG, Abu Dhabi time, take two snapshots of the TEDDY holding before and after the attack to airdrop 20% of DRAC. Teddy NFT holders will airdrop 12.8% tokens.
— DRAC_Network (@DRAC_Network) July 27, 2022
Rug Pull a Top Threat in Crypto
Research firm Chainalysis tracked 24 rug pulls in 2021 causing losses of up to $2.8 billion in the cryptocurrency market. That figure accounts for 37% of the $7.7 billion lost that year due to crypto scams. Furthermore, compared to 2020, rug pulls have increased dramatically in quantity and damage.
A rug pull refers to a scam where a project team builds a product, promotes it methodically, then issues tokens and lists them on DEX exchanges for investors to purchase, providing liquidity to the project.
Either gradually or all at once, according to Chainalysis, “the developers eventually drain the funds from the liquidity pool, sending the token’s value to zero, and disappear.”
BNB Chain’s popularity among small projects and retail investors have made the blockchain a target for scammers looking to make quick scores.
Recently, BNB Chain launched DappBay, an aggregator with anti-phishing features, to mitigate this risk and help protect users. DappBay identified two scam projects even though it had only been released for two weeks.
Don’t forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto!
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Volt Inu Reaches a Huge Milestone with KuCoin Listing the VOLT Token on June 2, 2023

The listing on Kucoin will result in greater visibility, credibility, and accessibility of the $VOLT token to a broader audience.
Volt Inu has made an exciting revelation regarding the upcoming listing of its native token, VOLT, on KuCoin, a prominent player in the crypto exchange industry.
In a recent Twitter announcement, Volt Inu confirmed that VOLT was scheduled to debut on KuCoin on June 2, 2023, at 12:00 UTC.
This listing marks a crucial moment for Volt Inu as it brings numerous advantages, including enhanced credibility and improved accessibility for the VOLT cryptocurrency. Also, the listing on KuCoin comes a few months after the listing on another top-tier exchange, Huobi.
New Listing of VOLT Token on a Top-Tier Exchange
On June 2, 2023, at 12:00 UTC, a momentous launch unfolded, which was accompanied by an electrifying announcement from Volt Inu, the innovative crypto project shaking up decentralized finance, and KuCoin, the fourth CEX in the world, according to CoinMarketCap - the launch of VOLT Token on KuCoin.
The partnership between VOLT Inu and KuCoin represents a significant milestone, offering many benefits for both projects and their respective communities.
KuCoin, renowned for its unwavering commitment to liquidity and stringent project evaluation, is one of the industry's major exchanges. With over 20 million users and counting, the platform's user base represents a vast network of individuals eager to explore and invest in promising digital assets. The listing of VOLT Token on KuCoin grants direct access to this expansive user base, propelling the project to new heights of exposure and potential growth.
By joining forces with KuCoin, VOLT Token gains a powerful ally that shares its vision for a dynamic and thriving digital asset ecosystem.
The exchange's rigorous assessment process serves as a stamp of approval, instilling confidence in the market and attracting key stakeholders. This influx of institutional interest will undoubtedly provide VOLT Token with increased visibility and credibility within the industry.
With an extensive user base across Asia, KuCoin offers a gateway to a thriving market, allowing VOLT to reach a diverse range of investors and enthusiasts.
The listing of VOLT on KuCoin marks a transformative moment for both projects, symbolizing a shared commitment to innovation, accessibility, and growth within the digital asset space. As VOLT embarks on this exciting new chapter, it embraces the prospect of heightened liquidity, increased institutional interest, and expanded market reach.
Alongside this remarkable event, KuCoin unveiled an exhilarating campaign to captivate their users as they stand a chance to win a staggering VOLT prize pool valued at an astounding $40,000!
Volt Inu's Listing on KuCoin Just Months After Debut on Huobi
Let's remember that the momentous launch on KuCoin swiftly followed VOLT's listing on Huobi merely a few months after its successful debut in March 2023.
Since that remarkable moment, Volt Inu has embarked on a relentless journey, consistently offering VOLT Token holders exciting news and captivating developments. This concerted effort has propelled the project's popularity to new heights, eventually culminating in its esteemed listing on KuCoin.
As the project continues to soar, it holds great promise for potential future listings on numerous other prominent exchanges.
Discover Volt Inu
Volt Inu emerged in December 2021 as a trailblazing crypto project disrupting the decentralized finance (DeFi) industry with its groundbreaking offerings. Right from its inception, Volt Inu has garnered widespread acclaim for its innovative approach to supporting deflationary tokens and mechanisms, setting it apart from its counterparts.
The team behind Volt Inu is committed to establishing an inclusive and accessible environment for both emerging and based crypto projects. They have pioneered a permissionless and cost-free listing process, fostering long-term value creation by strategically burning cryptocurrency supplies, thereby instilling deflationary qualities.
Since its launch, Volt Inu has introduced a range of cutting-edge products to the market, including:
- VOLT Token - Serving as the native cryptocurrency of the Volt Inu platform, the VOLT Token offers users many utility-based benefits, enhancing their experience within the ecosystem.
- Voltichange - As a multichain decentralized exchange (DEX), Voltichange simplifies the listing process for existing and future crypto projects. Notably, the platform's nominal trading fees of just 0.5% make every cryptocurrency traded deflationary, amplifying its appeal.
- VDSC - The visually captivating 3D NFT collection, VDSC, exemplifies the creative and artistic prowess of the Volt Inu platform. Apart from being aesthetically stunning, these NFTs provide exclusive access to utilities within the ecosystem, further augmenting their value.
- Volted Racer and VoltIsland - These two thrilling crypto-based games offer players the opportunity to earn rewards through free and paid game modes, adding an exciting dimension to the Volt Inu experience.
- VoltiCard - Blending convenience and usability, the VoltiCard is a prepaid physical and virtual debit card that facilitates seamless everyday transactions, catering to the diverse needs of users.
- VoltiEco - Simplifying airdrops and offering a comprehensive solution for global crypto investors, VoltiEco provides streamlined access to airdrop opportunities, serving as an all-in-one solution.
Stay Connected
Stay connected and informed about Volt Inu's KuCoin listing progress and other exciting opportunities by following Volt Inu on various social media platforms, including Telegram, Twitter, Facebook, Reddit, YouTube, Medium, TikTok, and Instagram.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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