Key Takeaways
- Cashera is rug pulled as 23,000,000 CSR tokens were minted and swapped by the contract deployer address, which caused a 71% price drop, and around $90K were taken.
Here is the contract address: https://bscscan.com/address/0x6e8Ff72962750F0Fa57A906F7833d1C657614abE
Below is a quick overview of this project.
Cashera has described itself as a Crypto Banking Revolution. Its native token, i.e., CSR, is a simple BEP-20 utility token that provides a range of benefits and incentives to Cashera Wallet users. Cashera Wallet is a cryptocurrency wallet that supports dozens of popular native assets and popular tokens on the blockchains..
They have not posted anything regarding this sudden price drop on their Official Twitter and Telegram Accounts.
According to the information provided by The Rug List, Cashera has registered as a UK Limited Company called Cashera Ltd and has fraudulently set their office address.
If we try to find more about this address on Google Maps, this address belongs to BarclaysUKHelp.
They have conducted their initial presale on pinkecosystem and made a false claim that they had been KYC’d by CompaniesHouse in order to manipulate investors to raise 372 BNB, i.e., around $148,000 to launch their project.
In order to provide financial services like banking and debit cards in the UK, companies must be registered with TheFCA. However, there is no record of Cashera on this register.
They have claimed that their owner is Adam Oscar, who has 12 years of banking experience in UK. However, there is no record of this individual on the FCA Register.
On 1st May 2022, Team Tokens worth $1,000,000 were unlocked by Pinksale and Team wallet i.e. 0xBaA0C3523877C68d26B88930AEe3FC1C44801344 holds 33% of that supply, and just under half (15M tokens) was eligible to be sold by the Team.
On 7th May 2022, a further 8% (8M tokens) was unlocked, which allowed the Team to sell another $533k USD worth of tokens, based on the market cap of $5 Million at that time.
They have registered their company using MadeSimpleGroup as their agents for a small fee of $50, which aided them in avoiding doing KYC directly with CompaniesHouse.
On 11th May 2022, they have tweeted that they are listed on CoinSniper. But Cashera has been banned by CoinSniper Team.
Here is the token address: https://bscscan.com/token/0x6e8Ff72962750F0Fa57A906F7833d1C657614abE. It has a supply of 100,000,000 tokens. Currently, 2,651 addresses are holding it.
