Is Farmer Thief a Scam Project?

Key Takeaways

  • Farmer Thief project has seen a sharp price drop of more than 94% on May 7th,2022. This happened after tokens were transferred to a wallet and sold on PancakeSwap.

Here is the contract address: https://bscscan.com/address/0xcc617005adb833ff56a9deecc70d36d74959a5f8

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.

As we can see, on May 7th, 2022, around 10,449 tokens were traded. We can see the same screenshot from Bitquery below.

Screenshot (347)
Token trades over last few days

Also, most of its supply is contained in a few wallets. The top 100 holders collectively own 89.68%, i.e., 1,165,891,390.40 Tokens of FarmerThief. We can see the same screenshot from BscScan below.

Is Farmer Thief A Scam Project?
Token Holdings

If we examine some of the addresses like 0xa46e95324fe3491144665c939c0dee4e005310b2 has 4.4259% of it supply, 0x80ea6a0263105f90d308a76b4879fc5a5a106416 has 2.5722% of its supply and 0x952799cb3f7139947c9d583a08de28d860becdc7 has 2.5485% of its supply. So, these 3 wallets have almost 10% of its supply. So, these 3 wallets have power to do market manipulation. So, users should stay away from this token. We can see the same screenshot from BscScan below.

Screenshot (349)
Token Holders

Here is the token address: https://bscscan.com/token/0xcc617005adb833ff56a9deecc70d36d74959a5f8. It has a supply of 1,300,000,000 tokens. Currently, 20,651 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
Yash Kamal Chaturvedi

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

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