Sometimes, when I’m feeling particularly daring, I dip my toes into the degen pool of crypto gambling. I’m aware of the scams, rugs, and other risks that can come with it, but it can be a lot of fun, and you never know when you might get lucky. More often than not, however, you’re left with a pile of dirt in your wallet.
Recently, I came across something that piqued my interest. I was scrolling through Dextools, a platform where you can swap tokens, and I saw a brand new contract. Out of boredom, I swapped a small amount of Ether from my junk wallet for a token called LIME. I set up to swap it back at the slightest gain, and after a few moments, it looked like that might have been the case. However, when I tried to swap it back, I got a prompt asking me to “Approve LIME”. That was strange and unexpected, so I approved it again, only to get a message saying “Not sufficient liquidity”. I had been rug pulled.
I was angry, but I decided to follow the money to see where the scammer had gone. To my surprise, the creator’s wallet had a cool 27 ETH sent to a new wallet. I was hot, so I did the illogical thing and bought the same token the scammer bought – NUT.
This experience has shown me that there’s a lot more happening on the blockchain than I initially thought. It’s a wild west, and you never know what might happen next.