After Exit Scamming, Oyster Creator Proclaims Cryptocurrency is a Ponzi4.76

Less than two months from today, NASDAQ and Bakkt are slated to launch their cryptocurrency trading tools to institutional investors. At the same time, major projects continue to exit scam and defraud their communities. It’s just another day in crypto.

On October 29, creator of the Oyster (PRL) project exploited a vulnerability in the token’s smart contract to execute a second ICO, in which he sold himself US$300,000 worth of PRL and immediately exchanged it on Kucoin. A single line of the contract, one which set DirectorLock to false, gave the creator the capacity to do this.

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