Thread by @QuillAudits

⚠️⚠️

$Teddy Doge developers pull out $4.5M in alleged ‘soft rug pull.’

What is the difference between—

‘Soft Rug Pull’ and ‘Hard Rug Pull’

🔽👇🔽

1/🧵

Rug pulls come in two forms: hard and soft.

Malicious code and liquidity stealing are hard pulls, whereas,

soft pulls refer to dumping an asset.

#cryptocurrecy | #Web3

2/🧵

🪡Hard rug pulls occur when project developers code malicious backdoors into their tokens.

Malicious backdoors are hidden exploits that have been coded into the project’s smart contract by the developers.

#SmartContract | #NFT | #crypto

3/🧵

The intent to commit fraud is clear from the get-go. Liquidity stealing is also considered a hard pull.

🪡Soft rug pulls refer to token developers dumping their #crypto assets quickly.

#ETH

4/🧵

Doing so leaves a severely devalued token in the hands of the remaining #crypto investors.

While dumping is unethical, it may not be a criminal act in the same way that hard pulls are.

#CyberThreats

Check out How Audits can Help Preempt Rug Pull👇

RT the 🧵 to spread the word!

#Web3 | #NFTs | #BTC | #ETH
blog.quillhash.com/2021/10/13/can…