– CertiK issued a “rug pull” alert for a crypto project called “Crypto Cars” in 2022. The project claimed to have over 700,000 users and its token price was falling rapidly.
– Angry community members pressured CertiK to retract its alert, arguing that the project’s website and Telegram account were still functioning.
– CertiK retracted its alert and deemed it a “false alarm” after yielding to pressure and considering the evidence provided by the community.
– The project, Crypto Cars, has since deleted its Telegram account, changed its Twitter into a different project called EtherBank, and removed the faces of its team members from its website.
– The team members of Crypto Cars, including its CEO and founder, have seemingly disappeared from the internet and cannot be found on LinkedIn or other social media platforms.
– The incident raises questions about investor protection and the need for regulation in the crypto industry.
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