Users said CertiK’s warning was a false alarm — then the project rugged By Cointelegraph


© Reuters.

A blockchain security firm tried to warn users of an imminent rug pull surrounding a crypto project, but investors became angry and fired back. The firm rescinded the security alert. Then, the project it accused of being a rug pull pulled the plug.

This is the story of CertiK, a blockchain security firm just trying to do its job, the users who tried to stop it from doing so, and the project, Crypto Cars, that (perhaps gleefully) turned its back on its users.

Screenshot of CertiK’s rug pull alert on Crypto Cars in 2022. Source: Twitter
One of the final statements posted on Crypto Cars’ Telegram before its shutdown. Source: Telegram
CertiK being criticized for the rug pull alert on Crypto Cars. Source: X
Crypto Cars team members on the website back in 2021. Source: The Wayback Machine