Heavily promoted Somputer (SOM) shows risks of rug pull with unsecured liqudity
CryptopolitanNov 1, 2024 4:37 PM
$SOM (Somputer) is being heavily promoted on Twitter by a number of insiders. However, according to a warning by Lookonchain, the coin shows risks of a rug-pull.
Risk warning of $SOM 🚨
Liquidity is not locked!
Most of the supply is being moved by developers and insiders to multiple new wallets and dumped on you.
Don't buy $SOM! pic.twitter.com/YfRelIhOLO
— Lookonchain (@lookonchain) November 1, 2024
The liquidity of the token is not locked, which means that the developers can pull it out any moment, leaving the investors stranded. At the same time, it appears that the devs and insiders are moving supply to new wallets, gearing to dump it on incoming investors. Hence, caution is advised!
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