Thread by @Rug_Radar

🚩 RUG ALERT 🚩 #SaitamaV2 is setting up as an extension of its V1 slow-rug. Confidence - 100% 🚨

Details 👇

Dirty Contract: 0xCE3f•••••••••27B2
Ticket: $SAITAMA
Chain: ERC-20
Twitter: @WeAreSaitama

Receipts in Thread 👇

This is not your typical case, by the way. Not every rug we alert will involve or require this much research. That wouldn’t be scalable.

Given how popular this token was — how many people they had conned — it required significant proof. That is below. 👇 (warning: it’s dense)

Here’s Russ just earlier this year, to an audience of thousands of investors after the third major milestone gaffe:

1. The project is entirely funded out of “the linings of our own pockets”
2. It’s” not as if they have $10 Million to [spend]”
3. They don’t have revenue

Cont 👇

Truthfully they had cashed out of investor’s liquidity OVER $100 Million. A few times over.

Initial project “investment” that was put up as launch liquidity? ~$16,000 USD worth.

This is just a small portion of one dev wallet’s earnings.

I gets much worse.

The source of all those tokens they were dumping off (thus “slowly rugging” liquidity from the pool)?

Airdrops from the deployer. Never paid for (as if that would make this any better). Report 👇

https://twitter.com/JD_2020/status/1509942957125906439

How did they try to cover their tracks?

https://twitter.com/JD_2020/status/1513461903657512963

There was a history of rug pulls from the same deployer prior. This is the same deployer who is moving the Liquidity from V1 to V2, and is involved in the project today — according to @Saitamaguru1 himself.

https://twitter.com/JD_2020/status/1527209775510994944

The original report that broke that linked the team to this whole scandal with 100% certainty that they’ve only ever dodged questions about:

https://twitter.com/JD_2020/status/1509302156523937805

Corroborating research:

https://twitter.com/SkyWalker64007/status/1530756551052386304