Battle of the bots: WTF token launch drains 58 ETH

One bot took $180,000 after engaging in frenzied trading between bots during the airdrops opening hours. Etherscan reports that 58 Ethereum was taken from the WrappedETH (wETH), and WTF liquidity swimming pools.

” There was extremely little liquidity immediately after launch. There were a few ape bots who were chucking in hundreds of ETH into a swimming pool that had ETH or more of liquidity. They had high slippage, and were ultimately surrounded by other bots that basically drained all of their ETH.

One Etherscan deal leads to one user losing 42 Ethereum, or $135,000 for 0.000044170848308398 WTF.

In an airdrop Friday, the job released its WTF token. Users had the ability to obtain WTF tokens and a “Rekt”, nonfungible token (NFT), for 0.01 Ethereum. Rekt NFT grants users lifetime access to Fees.wtf.

Its Discord announcement stated that the initial launch was to provide 100 million WTF which the “distributing supply” would be the piece de resistance in tokenomics. Things didnt go according to strategy.

The liquidity swimming pool was exposed by bad liquidity swimming pool management by the WTF developers within 5 minutes of token launch. Bots were able control WTFs price to offer it for wETH, as there was inadequate liquidity.

The cost graph for the token given that launch speaks volumes. A preliminary spike in bot activity was quickly followed by a quick 10x decline in value.

There are numerous users who share their stories of losing money on the main WTF Discord group. Some individuals are “shaking” from rage, while others are facing death hazards and lawsuit claims.

Many airdrop participants was sorry for losing countless dollars in Ethereum. Social network outlets quickly reacted. To relax their nerves, the WTF group stepped in two hours after the airdrop.

Two hours after the airdrop, WTF sent out another Discord upgrade specifying that “The core contracts were all great, this war on Uniswap was a war.” Regrettably, lots of users lost a lot, as is ending up being a regular event with airdrops.

The bots fought it out up until the winner took house all the cash. The bot took liquidity from the pool and tried to claim WTF tokens or Rekt NFT. The winner handled to send out an “ultrafast transaction at 3,300 Gwei” which provided a 6x return on initial investment.

Fees.wtf reveals Ether (ETH), users their life time spending quantities on Ethereum blockchain transactions. It determines gas and computes the charges. It just requests your wallet address and shows the quantity of gas you have used.

Related: A list of 2021s most severe DeFi hacking occurrences

Some Twitter users are calling the task a Ponzi plan as they see daytime on the job. The tasks referral part is fake. Referrers to the WTF project get 50% in costs “to make WTF go viral,” while WTF makes 4% per transfer. The WTF team raked in almost half a billion dollars in token transfer costs within just eight hours.

Twitter user Lefteris Karpetsas wasnt afraid to speak his mind:

WTF Project specifies that token supply is “deflationary”, and that 40 million WTF tokens are going to its Treasury. The distribution of tokens is not explained in detail. Meows.ETH ended their Twitter thread with a Zen approach to the questionable projects launch.

If you had the fortune to get a large quantity of $WTF, and had the ability to cash it out for revenue, then be happy. You shouldnt FOMO to purchase an altcoin that has high slippage unless you are attempting to fake the initial liquidity.
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In an airdrop Friday, the task launched its WTF token. Users were able to acquire WTF tokens and a “Rekt”, nonfungible token (NFT), for 0.01 Ethereum. The bot took liquidity from the pool and attempted to declare WTF tokens or Rekt NFT. Referrers to the WTF job get 50% in fees “to make WTF go viral,” while WTF earns 4% per transfer. WTF Project specifies that token supply is “deflationary”, and that 40 million WTF tokens are going to its Treasury.

Summing up. WTF group made an app that any developer can use in one hour. They added a token and ponzinomics to it. Anons aped and lost ETH in gas, claim charges and gas. The Team has made 116 Ethereum + 6,168.806 WTF. This is about $855,665 and its getting larger by the minute
Employing for @rotkiapp (@LefterisJP) January 14, 2022

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