ZETA token has dropped more than 95% on December 11 after a suspected rugpull from the StoicDAO team. The total funds drained in the rugpull amounts to 318 ETH, approximately $714k.
The DAO, which says to be developing so-called AAA games, announced on X that its private wallet was compromised in a hack after its token ZETA dropped over 95% in minutes. However, users strongly believe that it was indeed a rugpull by the StoicDAO team and not any kind of hack.
Several users claimed that the StoicDAO team used influencers to shill their tokens and merely created a video rather than actual games. In addition, two projects incubated by StoicDAO – MAIL and DECOM also appear to have rugged hundreds of ETH.
The scene behind ZETA price drop was unleashed by a user on X (twitter) who said to have bought 25 ETH of ZETA tokens and sold it right after. The user said that a team member of StoicDAO posted about his trade and criticized it in a telegram group.
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