The LooksRare team cashed in $ 30 million on invested tokens

The LooksRare team cashed in $ 30 million on invested tokens

One of the NFT markets, identified as LooksRare, recently announced a $ 30 million download in Ethereum tokens. The team remains a major player in the NFT market and a close competitor to Opensea. However, the recorded payouts by the team continued to provoke great outrage, especially in the digital community.

The firm, which manifested itself in an attempt to kill the prospects of OpenSea, reiterated that its official team received $ 30 million in cash after investing in invested tokens of the firm’s original token, identified as APPEARANCE.

Token Stakens by LooksRare

As announced compensation structure by NFT, his team has fostered millions of WETH rewards through the investment of unrecognized LOOKS tokens. Accordingly, each user receives a token reward whenever they trade their NFTs. This award, however, is usually used as compensation for compensation.

Furthermore, unregistered tokens were invested, which increased the chances of the crew getting a large amount of Ethereum tokens. These tokens are shared through a coin shuffling protocol, identified as the Cash Tornado. A member of the LooksRare team revealed in a recent tweet that the team worked for almost a year with no income, rewards or fees.

A subsequent report, however, confirms a 15% drop in the price of LOOKS, after the team’s efforts became publicly known on social media. APPEARANCE, remains functional cryptocurrency LooksRare, an NFT platform, identified as community-led. The market actively rewards investors and creators for the work of subsidiaries. On January 20, the value of LOOKS reached everything time record of $ 7.07. As a result, the existing currency-ATH gap has become 69.16%, thanks to public knowledge of the team’s despised interest.
As a result, the feedback became unsatisfactory as the community insisted that the team redeem LOOKS tokens. The community, however, preferred this to keep millions of dollars in Ethereum.

How Twitter Phrase earned $ 7.7 billion from crypto fraud

In a survey published last Thursday, Rug Pullscrypto Twitter phrase recorded 37% of disgusting revenue from crypto scam this year. With this, the phrase on Twitter earned a total of $ 7.7 billion. It has also generated less than 1% of total disgusting revenue of $ 5 billion in the last two years.

U report by Chainalysis, tokens that do not have a code revision become consistently listed on decentralized exchanges. This, according to them, remains a third-party audit that allows the code to follow the norms of good governance. In addition, there is a lack of a mechanism that could prevent its hacking.

In the discovery of the director of Chainalysis, kim greyer, The accelerated presence of new virtual coins gives criminals a better advantage for performing fake activities. He complained that criminals have adopted the trend of selling their fake products.

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