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CASE FILE #11
Rug PullEthereumToken

RFbtc

April 11, 2021

CAUSE OF DEATH

Liquidity extraction protocol. Deployer systematically drained the pool.

TOTAL LOST
$12K
CHAIN
Ethereum
TYPE
Rug Pull
📄

FORENSIC REPORT

TIME OF DEATH

TIME OF DEATH: April 11, 2021. The specimen, identified as RFbtc, was pronounced dead on arrival at the Ethereum blockchain. Initial examination reveals a textbook rug pull event—the kind we find at least three times before breakfast these days. The deployer initiated liquidity provision via transaction 0xe8924d297663b6f83a49e3fffa94c8ae99ece407ce252efee69f53c5662f026d, establishing what appeared to be a functioning trading mechanism. This was, of course, theatrical staging.

CAUSE OF DEATH ANALYSIS

CAUSE OF DEATH ANALYSIS: The post-mortem examination of Bloxy transfer logs tells the familiar story. Multiple withdrawal transactions originating from deployer address 0xecf3d312af872b36e4bae9d0fc4f90bbf29002b9 systematically exsanguinated the liquidity pool. The deployer didn't even bother with the pretense of a slow bleed—this was aggressive, intentional capital extraction. The contract never intended to function as advertised. It was always a conduit, never a destination.

CONTRIBUTING FACTORS

CONTRIBUTING FACTORS: The warning signs were there for anyone with functioning analytical equipment. Single deployer control of liquidity mechanics. No time locks. No multi-signature requirements. No vesting schedules. The entire structure screamed 'exit strategy' to anyone paying attention, which apparently was nobody. The $11,874 in victim deposits suggests this was a small-scale operation—either an amateur testing methodology or a pilot program before scaling up to larger targets.

VICTIM IMPACT

VICTIM IMPACT: Approximately $11,874 in direct capital loss, distributed among an unknown number of depositors who believed they were purchasing equity in a functioning protocol. Each transaction represents a person who saw a chart and saw opportunity. We found hope in their wallets and desperation in the transaction timestamps.

PATHOLOGIST'S NOTE

PATHOLOGIST'S NOTE: RFbtc joins the endless parade of projects that confused 'launching on Ethereum' with 'having utility.' The deployer's methodology demonstrates sophisticated understanding of DeFi mechanics paired with complete indifference to human consequence. They knew exactly what they were doing. That's almost worse than incompetence—this wasn't a failed experiment, it was a successful theft. The specimen shows all classical markers of predatory contract design: intentional, executable, profitable. File under 'Expected Outcome.'

"RFbtc expired from acute liquidity hemorrhage on April 11, 2021. The deployer added funds only to systematically withdraw them. Classic rug pull mechanics: bait, switch, vanish."

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Data from De.Fi REKT Database