DeFi Project "Hunter" - $1.2 Million Rug Pull | Rug Doctor Episode #2

The Rug Doctor - Episode #2

Hunter DeFi Rug Pull

Welcome back to The Rug Doctor. It's my new series where I look at crypto and NFT rug pulls in an effort to save someone from falling for a scam. I'm not trying to put a negative light on cryptocurrency, decentralized finance, or NFTs. I'm simply highlighting the latest rug pulls and scams in hopes to point out some of the red flags to look out for when considering investing in one of these projects. Make sure to check out episode 1 where I looked at Fury of the Fur's NFT rug pull if you wanna have a laugh.

So today, we're taking a look at Hunter, which is a super weird DeFi project that just rug pulled $1.2 million. This rug alert comes to us courtesy of CertiK on Twitter. I highly recommend following this account if you wanna get alerted about anything with crypto or NFTs that looks a little suspicious. It's not always a rug pull, but most of the time... If it looks suspicious (sus), then it's probably safe to assume that it is and you should not put your money in it.

Hunter claimed to be an "arbitrage robot" based on a variety of decentralized exchanges. This would supposedly enable investors to "obtain safer and more convenient high returns through it's original way of snatching orders". Basically the claim is that this "bot" would arbitrage trade across a bunch of DEXs for you and front-run other bots because it uses a different mechanism for filling orders. Any time I've ever heard the term "trading bot", the project has turned out to be a scam. Remember BitConnect?

Hunter tweeted yesterday about a supposed contract upgrade. At the same time, the funds from the token's contract address were drained and swapped for BNB. You can claim you're migrating the funds to a new contract all day long... But why swap the funds for BNB and then transfer to different wallets? They can lie... But you know who can't lie? The blockchain doesn't lie. We have the addresses so let's take a peak.

HOUND token contract: 0x1e4402Fa427a7A835fC64ea6d051404ce767A569

Wallet that rugged the funds (team wallet): 0xcAA51c5C8F6E6fD82e99eAa1606afF3f91E56626

Wallet of interest that funds went to: 0xEb290E70bE7eD7F42DE77fb099dADe2384364f81

Yesterday, wallet ending in 6626 started emptying funds from token contract in the total amount of around 305 million HOUND. This happened in 4 different transactions and is worth around 1,300 BNB or about $400,000. After removing liquidity, the wallet then swaps 1.1 billion HOUND for BNB in 2 transactions totaling about 3,500 BNB, or $1.2 million.

Again - if you're simply migrating the funds to a new wallet, why would you remove liquidity and swap for BNB? After swapping, about 2,700 BNB was transferred to wallet ending in 4F81 and the rest remains in the team wallet ending in 6626. The wallet the rugged funds were sent to holds a whopping 10,500 BNB worth over $4 million.

This wallet is a very fresh wallet, with only 37 transactions. It was created for this specific rug pull. We're not stupid, are we? As of 5 hours again, the rug pull is still ongoing with the latest transfers of BNB coming in. This is all public. All on the blockchain for anyone to see.

The stolen funds have not moved past this wallet. They sit there, waiting to be cashed out. The Twitter account is dark and the website is offline. Discord has also been shut down. Clear rug pull. Now all we can do is watch the wallet.

I'm curious where the rest of the funds in this wallet came from though.... Oh! Another wallet connected that transferred a shit ton of BNB to the 4f81 wallet. Interesting.

It's really hard to tell much more about the money flow here. I'm no detective. I just like to look at money flow on the blockchain. I am actually shocked that that BNB hasn't started being transferred to Binance to cash out. Looks like these criminals are a little smarter than some of the ones I've seen. Likely the funds will sit for a while before moving into mixers like Tornado.cash. Hopefully these funds can be blacklisted.

This kind of thing is starting to really be cracked down on, and it's long over due. This shit happens every single day. Just be cautious about what you put money in. It's the wild west out here in crypto land.

Be safe. Stay free.

Thanks for reading! Much love.

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