Why can NFTflow, which writes "liar" on its face, still be able to Rug Pull?

Original title: "Why can NFTflow that writes "liar" on its face still Rug Pull?"

Original author: Chen Zou, Bitui Bitpush.News< /blockquote>

A company named "NFTflow" took place on Monday Rug Pull, its official social account (@NftflowStarkNet) has been canceled, the website The access also reports an error 404. The CEO Alex Gausman previously announced on the website has announced on his official social media that he is not associated with the website, and has denied all so-called cooperation matters, and Dragonfly Capital has no investment cooperation record with the project. The initial mint price of NFTflow is 0.1 ETH.

NFTflow bills itself as "a platform for creating liquid markets for illiquid NFTs on StarkNet". StartNet is a L2 ZK-Rollup based on the STARK zero-knowledge proof scheme. In short, it is a solution for the expansion of the second layer of Ethereum.

When NFTflow broke Rug Pull, there was an uproar on social media, but unlike many other projects, NFTflow's scam was extremely rough, simple, and experienced I can't afford to scrutinize. Since the website can no longer be opened at present, it can only be recorded by memory:

Doubt 1: CEO

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Alex Gausman, the founder and CEO displayed on the website, used an old picture with almost no face and wearing sunglasses as the homepage display, which is not appropriate.

In fact, Alex Gausman himself declared on the 13th that he has no connection with the project.

Doubt 2: CTO

The project party’s CTO is a coinbase engineer, but the The engineer's Linkdin does not have any information about the project. As a real-name project, this is already sounding the alarm to the participants.

Third doubt: Poor design

The so-called "Pass" promotional icon of the project is poorly made, Let anyone feel a strong sense of cottage at first glance. Even if they haven't seen it, ordinary people can generally feel its abnormality as an "NFT Pass" icon.

Actually, this is the reverse of the 1964 50 cents.

Doubt 4: Dragonfly Capital’s fake endorsement

The investors displayed at the bottom of the webpage at that time included famous DragonFly Capital, but Dragonfly Capital did not mention the NFTFlow project on any page or newsletter, and there was no related press release on the Internet. As a project endorsed by a large investment institution, this is extremely abnormal Yes.

When Monaco Plante first came out, many people questioned whether Three Arrows Capital really invested in the project, and the founder of Three Arrows Capital, Su Zhu quickly dispelled the public's doubts by standing for Monaco through social media.

Doubt 5: Model NFTX

People who have some knowledge of the NFT market will immediately feel that something is wrong when they see this website, because the whole website is basically applying another innovation that focuses on NFT liquidity The look and feel of NFTX, our trading platform, and gave it a rough makeover.

The picture above is NFTX

This picture is a screenshot of NFTflow's white paper (the website is no longer available for browsing)

Then why is it so rough, almost like a face Can a project with "I am a liar" harvest a large number of investors under the premise of a bear market? In fact, it is not difficult to understand from another angle.

Reason 1: The project party launched a "social attack" on KoL

The project party lurked in some KoL communities and social media, and used similar words like "I was introduced by xxx" to defraud a large amount of KoL's trust almost empty-handed. But in other words, these KoLs that passively participated in the whole incident did not have enough due diligence, and it is also a manifestation of irresponsibility for investors and their flow. If someone could spend a little more time investigating, it would have given an early warning and set off a chain reaction that would have prevented a large number of investors from being scammed.

Reason 2: Small amount of capital and small number of issuance

Project Fang used a price of 0.1 E, with a total of 1111 NFTs. As far as a platform-type project is concerned, it can be said to be very cheap. Most people are not willing to use too much brains to think about whether there is a problem with the project itself. Under the premise that the loss risk stimulus is not large enough, FOMO emotion has replaced the operation of the brain, making many people selectively blind and ignoring the serious problems of the project.

Reason 3: Bear market sentiment is at work

In the case of a bear market, the big Most people are in a state of loss, and users who are in a state of loss tend to be irrational and break their pots. Anyway, losing 0.1 E is not a big deal, but what if they miss it? It seems illogical, but it can be compared to Texas Hold'em. Studies have shown that many novice players tend to be more bold after losing a large number of chips. Betting, calling, or even all-in, people's cognition in difficult situations tends to be biased, But it is also this way that makes oneself fall into a deeper predicament.

In general, this Rug Pull scam has no gold content, and it is very easy to be debunked. The wrong guidance of KoL and the follow-up of a large number of ordinary investors made a rough scam successfully carry out Rug Pull. In many cases, the difference between being cheated and not being cheated is just an extra level of thinking, trust your own feelings, in the process of investment, risk is always more important than income, a project that can generate 200% income is not worth your risk Participate with a 50% risk of being Rug Pulled.

Keeping a clear mind at all times, while accepting a lot of external information, maintaining independent thinking and a precious questioning attitude is the first way to survive in a bear market law.

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