CertiK withdraws false claims on Crypto Cars as “rug pull’ 

• CertiK, a renowned cybersecurity ranking platform in the blockchain field, published a Twitter warning about CryptoCars, claiming it was a “rug pull.”

• The post was soon taken down by the team since it was a false alarm.

The issue was caused by a short online outage of the project’s main site, among other causes.

In a time of market downturns, rumors of crypto bans, decentralized financing, or DeFi scams, blockchain enthusiasts might be too sensitive to the tiniest problems within the projects they follow, and sometimes mistakenly fear the worst.

The day before, CertiK, a renowned cybersecurity ranking platform in the blockchain field, published a Twitter warning about CryptoCars, claiming it was a “rug pull.” However, the post was soon taken by the team since it was a false alarm.

CertiK has withdrawn the community alert

CertiK originally stated that the website and Telegram for CrytoCars were down, according to a series of Twitter images received by Cointelegraph. Users soon pointed out that the CryptoCars website and Telegram applications were still operational, prompting CertiK to remove the community notice.

According to CryptoCars’ creators, the project’s Telegram conversation would be temporarily disabled “until the conclusion of the Lunar New Year from January 27th to February 7th.” The CryptoCars development team is situated in Vietnam, where the Lunar New Year is celebrated.

Qubit Finance was hacked for $80 million

Despite the incident, CertiK has contributed significantly to the blockchain community. It issued a verified community alert for Qubit Finance only the day before after the protocol was hacked for $80 million.

CryptoCars, a nonfungible token (NFT) vehicle racing game, debuted in September 2021.CryptoCars is a play-to-earn game in which players must purchase an NFT automobile constructed on the Binance Smart Chain through a blind box established by the founders for 6,600 CCAR or from another user for 490 CCAR.

At the time of publishing, the project claimed 721,683 players, 582,666 NFT vehicles, and 248.8 million in-game transactions on its official website. It has over 124,500 followers as well.

ALSO READ: 20% of  American adults have invested in, traded or used cryptocurrency

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

Latest posts by Nancy J. Allen (see all)