Thread by @0xFinish

$BALD has rugged on over $35m 💀

I didn't sleep for 2 days and completely researched $BASE

Here is your full guide on how to never get rugged 🧵👇

@BuildOnBase has seen a huge hype and over $80m worth of $ETH were bridged to BASW mainnet 🔵

Everything started with huge meme coins hupe there and with $BALD growing faster than any other meme coin in history.

Please take a good look at the first wallet in the list with over $17m bridged. He is the creator of $BALD and one of the biggest ruggers in history.

Anyway, let's go step by step 👇

Yesterday marked the launch of $BALD, which quickly gained popularity and became one of the fastest-growing meme coins to date.

This cryptocurrency is named after @brian_armstrong, the founder of @coinbase 🔵.

Today was a solid day as liquidity for the meme coin soared to over $35m, which is exceptionally high 📈

The big whales behind $BALD kept pouring their investments into it, contributing to its success. 💸

Today, the individual in question made the decision to withdraw liquidity, causing significant losses for those holding $BALD. The LP (liquidity pool) was drained, resulting in a sharp decline in token price, almost reaching zero.

For reference, you can find the transaction details of their withdrawal of over 6,000 ETH here:

[Transaction Link]() https://t.co/KfrGlTJj1kbasescan.org/tx/0xf885a5862…

After successfully pulling off a rug, he now holds over $25m worth of $ETH on @BuildOnBase, which accounts for more than one-third of the entire bridged $ETH 💀

Although he has earned millions from this rug, he is currently unable to withdraw the $ETH to the mainnet.

The big problem? No locked liquidity 🔐

That means whales can control the supply and pull out all the funds whenever they want. Watch out!

The best solution here would be to trade the pairs where the liquidity is locked via @UNCX_token.

Here is an example of how it looks on @DEXToolsApp 👇

It's a good thing but on Base, everything was super raw and you couldn't even prove the contract. This means that if the contract is not verified you could have bought a honeypot.

Honeypot means that you can buy but can't sell.

Here is an example of checking a contract before apeing into it. Yes, you can lose momentum but you will have full ownership over your funds.

Locked liquidity + verified contract = safe degening 🐬

All the insights are provided by @0xSpeedBit, be sure to check out their thread for even more info on $BALD 👇

Subscribe and bookmark for future reference and upcoming alpha 👀

https://twitter.com/0xSpeedBit/status/1686071628827164672

That's a wrap 🏄‍♂️

Hope you have found interesting projects and feel free to let me know what to write about next 🤝

Make sure to check out my upcoming big guide on ChatGPT to make up to $10k monthly with almost NO effort 💎

https://twitter.com/0xFinish/status/1653320706791456769

Also, find the recent Alpha and market insides here 👇 https://t.co/smTsIw57jV

https://twitter.com/0xFinish/status/1658871435220353025

Special mentions:

@wacy_time1
@ardizor
@leshka_eth
@rektfencer
@nobrainflip
@0x_gremlin
@the_smart_ape
@Louround_
@arndxt_xo
@rektdiomedes
@AlphaFrog13
@0xSalazar
@crypto_linn
@defi_mochi
@Hercules_Defi
@0xTindorr
@CryptoStreamHub
@0xsurferboy
@Flowslikeosmo
@CryptoShiro_

I hope you've found this thread helpful.

Follow me @0xFinish for more.

Like/Retweet the first tweet below if you can:

https://twitter.com/0xFinish/status/1686086074563715075