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Author: Admin | 2025-04-28
Crypto trader and RugSeekers founder, Robert Browning. Photographer: Luke Sharrett/BloombergHow Crypto Vigilantes Are Hunting Scams in a $100 Billion MarketA ragtag team is trying to weed out fraudsters in a fast-moving corner of the crypto world that’s entirely unregulated.November 30, 2021, 12:01 AM UTCOn a Monday morning in October, in a southern Indiana basement, a 52-year-old grandfather in a Dogecoin hat is patrolling the darkest corners of the crypto world for Shit Coin scammers.Robert Browning and his motley crew — named the RugSeekers for a popular pump and dump scam called the rug pull — are investigating a tip about a new coin called We Save Moon. They’re examining its source code, wallets and price charts for red flags indicating fraud. Browning enters the coin’s group chat on Telegram, the messaging app where this world hangs out. He starts typing under his alias RobAte25 — a reference to his grandson’s birthday, 8/25 — and moves in for the kill.Browning asks for ‘mods,’ or the moderators of the chat associated with We Save Moon. ‘Gene Cernan,’ a mod named for an American astronaut, responds. The mod’s name will change throughout the exchange to other astronauts. In typical DeFi fashion, the mod encourages the group to ‘PUMP’ the coin — buy more of We Save Moon and boost the price.Eric Mings, another RugSeeker, also joins and asks a question about the coin’s utility. In this world, coins that serve a purpose are often considered a better and safer investment. We Save Moon responds under a different name, Alan Bean, but doesn’t answer the question. Instead, Mings is directed to the group’s pinned messages. Eventually, the moderator tells Mings that the utility of the coin is to get rewards, but doesn’t offer specifics. Meanwhile, Browning is asking whether the developers are ‘doxxed,’ meaning they've publicly shared their identities. If a coin creator is willing to go public, there’s less chance that they’ll scam people.After being ignored, Browning identifies himself as a member of RugSeekers. Mings echoes his question about the doxx status of the creators. The developers say yes, and Mings asks for
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