Zachxbt’s investigation of Project Shura’s $1.7M rug pull leads to public wallet Zachxbt’s investigation of Project Shura’s $1.7M rug pull leads to public wallet
Project Shura developers reportedly made over $1 million from their collections and then disappeared, leaving investors high and dry.
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Updated: Apr. 19, 2022 at 3:33 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Onchain detective Zachxbt has revealed details about another NFT rug pull involving Project Shura. The team behind the 5000 collection project reportedly made $1.7 million before abandoning it and leaving investors high and dry.
Project Shura leaves investors high and dry
Project Shura is one of the few anime-inspired projects in the market that came after the widely successful Azuki launch. It launched in January with a supply of 5,500 NFTs and a 0.09 ETH minting price.ย
1/ With the hype around the Azuki launch back in January many anime inspired projects popped up.
One of those being @Project_Shura a $1.7m rug in which the anon team abandoned the project.
Here I breakdown where those funds went & uncover an alleged team member. pic.twitter.com/dCrYCeBGon
— zachxbt (@zachxbt) April 18, 2022
Like similar projects, its roadmap promised merch, manga series, P2E games, tokens, manga series, etc. It also partnered with popular YouTuber JRNY to market it.
Once the minting was complete in January, the anonymous team of developers started acting distant before finally disappearing in February.ย
They returned on March 16, claiming that it was simply a break and theyโll continue development. But first, they needed to delete all chat channels due to โFUD.โ Since then, there have been no updates, and the floor price of the NFT is near zero.
With 495 ETH in proceeds, Zachxbt started tracking how the ETH was distributed. He discovered that the four wallets shared the funds and transferred them directly into central exchanges.
RoySaito allegedly linked to one of the wallets
Fortunately, one of those wallets turned out to be a public wallet. The wallet which received 133 ETH allegedly belonged to the pseudonymous Ox6a known as RoySaito_ETH on Twitter. Notably, Roy has launched a new NFT project called Shounen.ย
6/ You might also be asking how I tied 0x6a to his Twitter.
Well when he made the large purchase for Azuki 6541 a Twitter bot recorded his OpenSea name. pic.twitter.com/lK66S7V88E
— zachxbt (@zachxbt) April 18, 2022
RoySaito allegedly received 27% of the whole funds and used the proceeds to flip Azuki NFTs. Zachxbt revealed he could connect the wallet to Roy because when he bought Azuki #6541, a Twitter bot posted about it and included his OpenSea name.
Roy also posted about a giveaway for Azuki #4889, which was also in the same Ox6a wallet. He has allegedly canceled the giveaway and deleted the tweet since.
CryptoSlate reached out to RoySaito on Twitter for comments but did not get a response, and the account was made private as of press time.ย
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