Wednesday, February 21

They promised a productive metaverse and disappeared with gamers’ money

Key facts:
  • The Beast Master project token fell 99.6% and its website is down.

  • Almost $ 3 million are missing.

Just a few days after having made the pre-sale of its native token, the Beast Master project disappeared without a trace, including the almost USD 3 million raised in its initial sale held on December 6.

People who believed in the promises of the Beast Master developers were shocked by the disappearance of the website of the project, as well as its Telegram channel and the crash of its token, which lost 99.6% of its value, on Wednesday, December 29, as shown by Coingecko.

The Beast Master project token fell 99.6% on Wednesday, December 29. Coingecko font.

Immediately, the community took to Twitter to report what many cataloged as a “rug pull” or rug pull as the scam that drains the funds that provide liquidity to an asset is often called, leaving token holders unable to trade.

After 48 hours of the disappearance of the project, the community was surprised again this Friday, December 31, with a message on Twitter. In your communication developers claim to have suffered an attack on their devices, which would have left them without access to your platform.

Upon learning of this, we decided to withdraw the liquidity of the coin as quickly as possible to safeguard the investments of our users before it could be withdrawn by attackers.

Beast Masters developers at Twitter.

In their message, the team behind the digital beast training game promises to “make a return on the money invested in the purchase of the project’s NFTs (non-fungible tokens)”, although they do not offer further details about it. They add that “the liquidity of the token will be returned in the most fair and feasible way”, however, this has not happened, although more than seven hours have passed since the announcement.

Meanwhile, the community remains alert and does Attempts for tracking the funds that have disappeared. “Do not put money in if the game has not come out, the magic of NFT games pre-sales is ending, as it happened with ICOs (initial coin offering”, wrote a user on Twitter.

The Beast Masters development team is made up of Gonzalo, Nauel, Franco and Francisco. That was the only identification that the developers gave on December 4 when they participated in a meeting with the community via YouTube.

At that moment they pointed out that they did not think it appropriate to “show their faces” or mention their full names “to keep personal projects separate from our work in various companies.”

With the purchase of the NFTs of this proposal, apparently developed by Argentines, players would get rewards for training digital beasts. The promise of the team behind the project was to offer better gaming experiences than other initiatives like Plant vs Undead.

The video game had captured the attention of thousands of gamers who were waiting for the development of a metaverse with Pokémon-style game modes. Is about the same proposal with which Axie Infinity became the king of NFT-based games that awards cryptocurrencies for playing.

What happened with Beast Masters is similar to other cases reported by CriptoNoticias, including is what happened with the SQUID token, inspired by the hit Netflix series The Squid Game.

In November, after reaching USD 2,856, the token price fell 99.99%, while the page and social networks of the project disappeared. The lifetime of this project, which promised games and prizes like the series, was just 6 days.