A Coin Named Polyroll Lost 100% of its value in less than 24 hours

So in less than 24 hours, a polygon-chain coin named Polyroll just rug pulled 90,000 of its holders. Im repeating, 90 freaking thousand holders. What worrying is that the project (scam) was backed by ChainLink itself. They even tweeted it on their official twitter about this coin and how this coin is the number 1 polygon casino game coin.

Edited: PolygonDaily with 56k followers also recommended this project to its followers.

This shows why countries can ban cryptos easily when projects that were trusted for years like ChainLink recommend you scam coins like this.

The project was verifies by RugDoc, the doxxed team, and a well built website with 90k holders. Anyone can blindfoldedly buy this. What lesson do we learn from this?

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27 thoughts on “A Coin Named Polyroll Lost 100% of its value in less than 24 hours”

  1. They did a random 1 coin airdrop to a lot of those 90,000 holders so It was just a way to pump the holder numbers. Still sucks for those that really did get burned.

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  2. I think they used Chainlink as a curtain, the only part they use Chainlink is VRF (Which is simply a randomizer) and they wrote ‘Powered by Chainlink’ everywhere like the project is owned/developed by them.

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  3. Reminds me of lilly finance that thing ha sbeen dropping like a fly. Also hilarious that people claim it’s for the kids . When only 1% goes to kids and 15% goes to dev and marketing .

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  4. It’s coming to the point where I think it should be more difficult to create coins/tokens and absolutely require positive KYC type documentation of who is behind any new entry with legal obligations too. There needs to be a burden to entry to prevent low effort scams. Holding the scammers personally responsible for their actions will become essential.

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  5. Sometimes you can do all the research in the world and still get rug pulled. Low cap crypto really is a gamble. A bit ironic that it took a casino coin to remind of us that.

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  6. Polyroll used to spam airdrop like $0.01 of their token to every single adress on Polygon…to be realistic, their holder counts have been fake and exaggerated from the beginning. Sucks for those who were rugged, but I doubt 90k people were actually affected.

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  7. This is a legit problem with a lot of Algorand’s ASAs right now. Projects are getting the “Blue Check mark” from the foundation and then rugging the fuck out of its holders shortly thereafter. If I’m not mistaken ALGO has taken notice and is revamping their certification process.

    It begs the question… How much decentralization do you want vs how much confidence do you have in what you’re investing in?

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