Polygon-Based Web3 Game Dragoma Supporters Fall Victim to $3.5M Rug Pull: PeckShield

The funds have been siphoned out of the project and into centralized exchanges.

AccessTimeIconAug 8, 2022 at 8:28 a.m. UTC
Updated Aug 8, 2022 at 3:23 p.m. UTC

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

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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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

CoinDesk - Unknown

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.