The newly launched Dragoma project appears to have been subject to a rug pull worth an estimated $3.5 million, according to blockchain sleuth PeckShield.
- Dragoma, which launched just days ago, had said it planned to become a Web3 adventure game that incorporated non-fungible tokens (NFT) and elements of social media alongside its native token, DMA.
- The token, which was created on the Polygon network, was recently listed on centralized exchange MEXC, generating millions of dollars in volume.
- The project's website is not responding and its social media channel has been deleted, PeckShield said.
- At its peak, the DMA token reached $1.78. It tumbled Monday morning, losing 99.8% of its value.
- The missing funds have been moved to centralized exchanges, according to PeckShield.
- The founder of Dragoma is Texas-based Ken Graese, according to a June press release.
- Dragoma did not immediately respond to CoinDesk's request for comment.
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