Uniswap Listed NUGS and NEXE Token Projects Exit Scammed Soon After Listing
Two token projects, namely Nugs.space (NUGS) and Nexeum Protocol (NEXE), which were recently listed on popular DEX platform Uniswap, seem to have exit scammed soon after their listings. After the news broke out about a possible exit scam, NUGS token project in their official Telegram group, claimed that their smart contract system encountered a bug that is beyond repair at this point.
Nugs, a Chinese project, claimed to offer an interesting escape, with a total supply of the token being capped at 420 million. The project targeted weed enthusiasts, and the website, operations, and many other aspects of the project was themed around weed lovers.
The website also claims that Nugs token should not be seen as an investment, however many users on Twitter claimed that they had put hundreds of dollars in the project hoping to make a quick buck.
Soon after its listing on Uniswap, the price of the Nugs token pumped by 20% before making an exit scam. Similarly, the other token in question NEXE followed a similar path, and soon after its listing on Uniswap, it vanished. All the social media accounts associated with the NEXE token have been deleted as well.
Uniswap, a dex platform, has been in the headlines for trading volume that it has been generating for the past couple of weeks. The recent exit scam done by NUGS and NEXE highlights the need for better auditing and analysis of tokens before listing.