- The deployer of FrensTech has denied rug-pulling the undertaking after allegations by the neighborhood.
- On-chain specialists not too long ago accused the deployer of rugging the undertaking by eradicating liquidity.
- The undertaking’s deployer is reportedly an early worker of main DeFi alternate Uniswap.
The developer behind the memecoin FRENS has been accused of pulling the rug from underneath the undertaking after he eliminated a number of thousand {dollars} value of liquidity from the crypto undertaking. The deployer, whose id was revealed by the crypto neighborhood on X (previously Twitter) earlier in the present day, is reportedly an early worker of the favored decentralized crypto alternate Uniswap.
An on-chain professional who goes by UniswapVillain on X took to the social networking platform earlier in the present day to report that the deployer of FrensTech had rugged the undertaking. FrensTech, which was deployed lower than 24 hours in the past, was rugged by its deployer AzFlin lower than 12 hours in the past. The deployer moved 14 ETH ($25,800) from the newly launched Base community utilizing a multi-chain bridge known as HOP.
Information from Etherscan confirmed that AzFlin had transferred 14 wETH off the undertaking. “He eliminated liquidity he added from charges and pocketed 14 ETH of charges. He offered the tokens he faraway from liquidity even,” the on-chain professional informed his followers. The deployer reportedly took a temperature test on X earlier than the rug pull, the place he requested the crypto neighborhood if group members of a undertaking promoting cash could be thought of a rug.
AzFlin took to X to reply to the neighborhood’s complaints after allegations of a rug pull began pouring in. He acknowledged that he was the developer and deployer of the FRENS token, however denied pulling the rug. In accordance with him, liquidity within the undertaking was locked from the start and added that he had solely eliminated 1 ETH value of liquidity which he claimed to have supplied with funds from his developer pockets.
The deployer acknowledged that he offered FRENS tokens as soon as its market capitalization reached $30,000 however defended his actions by claiming that the offered tokens have been initially bought by him to induce liquidity into the undertaking. In accordance with him, the allegations of a rug pull have been nothing however FUD.
