Balloonsville, rug pull on the solana network.

News broke yesterday that an NFT project on the solana network better known as ballonsville has made a big rug pull. According to the solanart site solanart has reported that the NFTs in the ballonsville collection turned out to be a rug pull. In fact the project has changed the name of its NFTs to rug pull warning potential buyers.

The project that was listed a few days ago on magic heaven promised several things and among them a decentralized bank has escaped with a total of 600k usd. According to what could be read in magic heaven the project promised several things as we can read:

"Balloonsville is a community driven NFT project that gives control back to the holders on the Solana Blockchain. Each balloon is unique and randomly generated by over a hundred awesome features, and gives holders the benefit of controlling the Balloonbank, the project's treasury wallet, which also acts as a community wallet for holders to decide how most of the money raised by the project is spent."

Several users reported that it was actually a rug pull and it was confirmed when the developers themselves posted on their twitter a tweet mocking their investors calling them stupid for not requesting the ID confirming that it was a rug pull. The developers also mocked their investors saying they believe in everything these days.

Hello, I am @Blloonsville. I want to expose the bad guys of @MagicEden_NFT for not doing a great job with due diligence on projects.

What should I do? Build something that helps to fix that? Mmm no, let’s just take money from thousands of people.#balloonsville #Solana pic.twitter.com/Qm3KV5AOah

— sircasino (@sircasino) February 6, 2022

"All it took was a couple of paid actors, and boom, we did it again"

You can read in the tweet that it doesn't exist now and that judging by the wording it is not the first scam they commit. The issues that the team was anonymous so we will never know what other scams they pulled.

According to the official magic eden account they have committed to reimburse all people who fell for the balloonsville scam, except for secondary traders. They also announced a joint work with the FTX exchange in order to bring the scammers to justice.

https://twitter.com/MagicEden_NFT/status/1490551580193878016?cxt=HHwWgMDTjfqwwK8pAAAA

- MagicEden_NFT

Image made by @fclore22