RUG PULL Alert: Saitama Kitty Devs Siphon $2.5 Million After it Spiked 150% on the Day of its Launch

Vinod Dsouza

Saitama Kitty was launched on November 11, 2021 and it shot up +150% on the first day of its launch. The coin touted itself as a new meme-currency in the market and attracted new investors into its fold.

However, the very next day on November 12, Saitama Kitty developers did a rug pull and escaped with close to $2.5 million.

Their Twitter handle @SaitamaKittyBSC is pulled down and says ”This account doesn’t exist”. Their website is also pulled down and cease to exist. The devs vanished in thin air leaving no trace of their identity or whereabouts.

SAIKITTY heads south seconds after the rug pull. (PooCoin)

The coin which was trading as usual the charts suddenly saw a drastic dip heading south and hit rock bottom. That is when investors realized something could be wrong. When they tried contacting the team through their social media handles, none of them were up and running.

Unfortunately, several investors lost every single penny of their investment. All of their hard-earned money went to the scamsters in the form of developers.

Saitama Kitty which traded as SAIKITTY in the indices convinced investors that the token is authentic during the launch. They also tweeted they would soon launch an NFT and create a bridge to provide utility to its users through SaiBridge.

In addition, their now defunct website also claimed that the token is highly inspired by Saitama Inu (SAITA). However, they made it clear that the two are nowhere affiliated to each other.

SaiKitty had no pre-sale before its launch and allowed investors to trade only on November 11, 2021. Around 1,500 holders had purchased the token in the hopes of doubling their investment all over again. However, the very next day they were scammed off their investment.

There Are Many More Scams Like Saitama Kitty

Meme-cryptocurrencies are selling like hot cake in the market and there’s one popping up almost every single day. Investors are blindly throwing their money in new tokens hoping it could be the ‘next big thing’. These new tokens display stellar gains during initial days and communicate in such a way that they seem to be real and authentic.

Nonetheless, all that glitters is not gold in the crypto market and the devs indulge in rug pull and escape with the bounty. Watcher Guru advises investors to be alert and do their own research before investing their hard-earned money in tokens which do nothing but vanish with their money.