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The founders of Teddydoge gain carried out an exit scam, taking $5 million with them
The administrators deployed 30 billion TEDDY tokens which they sold, crashing the market
The memecoin used to be most appealing launched in February this Twelve months

Teddydoge, a Dogecoin knockoff that used to be about as decent as a $10 Gucci handbag, collapsed the outdated day because the founders exited stage left with over $2 million. The memecoin, which launched earlier this Twelve months, claimed to be a “multifunctional swap integrating transaction, change, farm, wallet and chart”, hadn’t attach out a tweet since mid-April, since when the associated rate of the token had declined by 86%. Fearing a whole label shatter, the founders gain seemingly cashed out what remained and waltzed off into the sundown.

Stuffing Ripped Out of TEDDY
The TEDDY token had been on a downward trajectory ever since launching in February, with, shock peril, the truth no longer living up to the hype. Having pumped and dumped the token on the launch of the Twelve months, the creators gain clearly chosen now to screw anybody else foolish ample to restful be keeping a memecoin at this level available within the market cycle, with 30 billion TEDDY tokens being deployed from the admin memoir and sold on Pancakeswap:

#PeckShieldAlert #rugpull TeddyDoge @DRAC_Network is relaxed rugpull. $Teddy has dropped -99.4%. The assets for the time being take a seat in https://t.co/3zu55iZAWX (accumulatively net ~10okay $BNB & 2m $BUSD) and are slowly transferred to @Binance pic.twitter.com/I48dWkLIOE

— PeckShieldAlert (@PeckShieldAlert) July 25, 2022

Essentially essentially based on Peckshield, the haul sold for nearly about 10,000 BNB tokens (approximately $3 million) and $2 million rate of BUSD. Here’s, in accordance to the protection firm, on its formula to Binance the set aside it will presumably be chased out, except the change takes motion to freeze the assets.

“Technical Upgrades” Warrant Suspension
Bitmart alerted its users to “technical upgrades” regarding the TEDDY token because it suspended all related actions the outdated day, whereas DRAC, a decentralised rewarding self reliant neighborhood of which Teddydoge used to be connected, also suspended its crosschain functionality, the truth is shutting it down. At this level, most holders realised the game used to be up:

My all money lost please launch the alternate in bitmart and set aside the dilapidated label 😭😭😭

— Shehryar Mughal (@Shehrya50100995) July 25, 2022

They deleted the telegram neighborhood!

— NIKHIL (@NIKHILK04338402) July 25, 2022

Teddydoge just isn’t any longer going to be the final memecoin to drag this create of a stunt because the maintain market continues, despite the truth that keeping any at this level is love playing Russian roulette alongside with your funds.