Thread by @re_dao_sol

Automated meme coin rug factory

You’ve seen big rugs

You’ve seen medium rugs

But you ain’t seen this type of hyper-rugging before!

🧵

Here at @re_dao_sol we got some real fucking sleuths.

Our in-house @zachtxbt clone @I_talk_crypto has just uncovered a seriously big automated rugging operation that has been going on for months.

So how does it work and how do you avoid it?

Read the extended version here to get the full picture:
redaosol.medium.com/shitcoin-assem…

We essentially have an automated system designed to create at least 40 new tokens daily. The rug factory handles a high volume of transactions and extracts at least 100 $SOL every couple of days.

We uncovered what we could but we believe the money flow to run deeper.

Sleuths assemble! @0xMert_ @lookonchain @BoringSleuth @zachtxbt @0xGumshoe @aeyakovenko

Tag your favorite blockchain wizard in the 💬

Here are the automated steps:

Step 1: Creates token
Step 2: Creates a market
Step 3: Distribute ~70% of the supply to ghost wallets
Step 4: Wash trades to get up on the volume ranking
Step 5: Waits until over 100 $SOL has entered the pool
Step 6: Rug by removing the LP
Step 7: Rinse & repeat

We will only focus on one rug but you can follow the full 24-hour cycle in our medium post

Enter $PEPEFLOKI

It starts with the address - 7hs9PLq5dJt1U5YSYbkyuGGgax1JroZg9BTY1wB9kSun receiving 1,076.43 $SOL from the previous rug ($ROBOCAT)

$PEPEFLOKI token is created -

Creates a market on @RaydiumProtocol - The LP starts with 900 $SOL and 30% of $PEPEFLOKI total supply

Sends 100.7 $SOL to 16 wallets used to pump $PEPEFLOKI here's one of the transactions

Distributes 70% of the $PEPEFLOKI supply to puppet wallets as mentioned on the website in the tokenssolscan.io/token/CufXRj8Y…
solscan.io/tx/2E1XdroD151…
solscan.io/tx/3Ui4qdbCHM7…

16 wallets start accumulating $PEPEFLOKI and trading the token to increase volume and get them trending on @dexscreener and @birdeye_so

Retail buys and the LP reaches a satisfactory level for rugging

The liquidity is removed -

All the $SOL is sent to the next rug and the cycle repeats - which will later create $CATZILLAsolscan.io/tx/sRHGoNFfPFg…
solscan.io/tx/Tb5phopCsd1…

Here is a workflow of funds flowing through 3 different rugged meme coins

But where do the profits go?

The Blockchain doesn't lie

As soon as 100 $SOL profit has been made they send the $SOL outbound to BY4StcU9Y2BpgH8quZzorg31EGE4L1rjomN8FNsCBEcx through a proxy wallet ()

Who is BY4StcU9Y2BpgH8quZzorg31EGE4L1rjomN8FNsCBEcx ? More on that soon™️ ;)
solscan.io/tx/2B8B29dYXeK…
alpha.vybenetwork.com/wallets/BY4Stc…

To combat this extracting of liquidity we are creating @limitless_pump and bringing LFTs to life

LFTs = Limitless Fungible Tokens

Features include:

✅ Rug proofing and bot flood protection

✅ Easy launch

✅ Protocol owned liquidity

✅ New token standard

✅ Hard & soft floor prices

To learn more turn notifications on 🔔