A guy lost $135k trying to trade Fees.wtf tokens ! The user lost 42 ETH to get 0.00004 WTF while it’s actual value is just $0.000005. The hope for 7,000% annualized return turned into tears!
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This is literally WTF! Imagine risking your 42 ETH for a newly created token that is not even known much.
A guy lost over $135k while trying to purchase a token named “fees.Wtf”
The user accidentally swapped 42ETH for 0.00004 WTF. ,the actual value of the token was just $0.000005
This happened due to low liquidity in the trading pool .
Fees.WTF is a tool that allows users to track the fees they spend on ETH.It airdropped it’s WTF tokens on Thursday.
Use cases include staking WTF or it’s liquidity pool tokens with annualized returns of up to 7,000%
As soon as the token got listed on ETH based exchange Uniswap,speculators hoping that an eventual price rise would net them handsome returns.In this race, the guy lost 42 ETH.
The developers seeded the initial pool on Uniswap with over 2,211 WTF and 0.000001 ETH causing a huge imbalance in the trading pool. This allowed users to sell low amounts of WTF for relatively high amounts of ETH, while buyers of WTF ended up purchasing the tokens at a much higher value
submitted by /u/Acceptable_Novel8200
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