Scammer steals $91k in fake Sleepless AI, FomoFi, NebulaNode tokens
HIGH RISK

Scammer Steals $91k In Fake Sleepless AI, FomoFi, NebulaNode Tokens

In anticipation of the launch of Sleepless AI farming on the Launchpool platform from Binance, unknown people conducted a rug pull of the token of the same name.

Our Analysis

Cryptocurrency investors and traders were affected by a series of sophisticated rug pulls involving counterfeit versions of legitimate tokens. Scammers created fake versions of Sleepless AI, FomoFi, and NebulaNode tokens, successfully stealing approximately $91,000 in ETH from the Sleepless AI scam alone, with even larger amounts from the other fake tokens - including $335,900 from the NebulaNode scheme. The scammers strategically timed their attack to coincide with the legitimate launch of Sleepless AI farming on Binance's Launchpool platform, creating confusion and exploiting investor excitement. They created counterfeit tokens with identical names to legitimate projects, exchanged massive quantities of these worthless tokens for real cryptocurrencies, and then disappeared, causing token prices to crash by up to 97.5% or completely to zero. To avoid such scams, investors should verify token contract addresses through official project channels, be suspicious of new tokens with unusually high liquidity or trading volume, use decentralized exchanges with token verification features, and be especially cautious during the excitement of new project launches. Double-checking token symbols isn't sufficient - contract addresses must be verified. These attacks succeeded due to FOMO (Fear of Missing Out) and the excitement surrounding new project launches. Scammers exploit human psychology, knowing that during hyped launches, investors may rush to participate without conducting proper due diligence, creating perfect opportunities for fraud. Cryptocurrency users globally were affected, but particularly those following emerging AI and gaming projects on Binance-related platforms who were eagerly anticipating the legitimate Sleepless AI launch.
Anna KhartonDecember 28, 2023

Rug Pull Score

0/10
Based on our analysis

🚩 Red Flags Identified

  1. Fake tokens with identical names to legitimate projects
  2. Sudden price drops of 97.5% or to zero
  3. Multiple similar scams targeting different tokens (Sleepless AI, FomoFi, NebulaNode)
  4. Scammers timing attacks to coincide with legitimate project launches
  5. Large sums extracted quickly before token values collapse
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research before making investment decisions.