Is ACO a Scam Project?

Key Takeaways

  • ACO Project has seen a sharp price drop of more than 96% on May 20th, 2022.
Token Price Crashes
Token Price Crashes

Here is the contract address: https://bscscan.com/address/0x96f907Be978A92Fb7EAa4e8c5401253Bd7A24E7D

According to the information provided by CeriK Team, it appears that the contract owner has sold all of his tokens, and this project is most likely a rug pulled now.

Not much information is available about this project. It is not listed on any major crypto exchange, and we could not find its official website.

After doing our own investigation, we have found that there was a total of 429 token transfers by the contract owner, i.e., 0xd7f8f023B2A0961c05AFdE0A8Db38BA7Fd69a2f4 on May 20th, 2022. This is the highest amount of ACO token transfers in the last 30 days. We can see the same screenshot from BscScan below.

Token Transfer Details
Token Transfer Details

Also, around 9500 ACO tokens were transferred on May 7th, 2022. Furthermore, approximately 24,700 ACO and 4,700 tokens were transferred on May 19th and 20th, 2022. We can see the same screenshot from BscScan below.

Token Transfer Details
Token Transfer Details

Here is the token address: https://bscscan.com/token/0x96f907Be978A92Fb7EAa4e8c5401253Bd7A24E7D. It has a supply of 29,802.67181 tokens. Currently, 977 addresses are holding it.

We will recommend our readers to be careful and perform their own research before investing in it. As crypto scams are increasing nowadays, our readers should stay alert.

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Yash Kamal Chaturvedi

Btech Computer Science, Maharshi Dayanand University, Rohtak (2023)

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