Crypto Project Safereum Plunges 94% After Alleged Exit Scam

The cryptocurrency project Safereum has been accused of conducting an exit scam, with the developers allegedly dumping over 600 Ether worth of its holdings and causing the price of the Safereum token to plummet more than 94%. The scam came just hours after the team had raised approximately $600,000 for a derivative token called "Safepad." The total stolen sum is estimated to be roughly 720 ETH, worth $1.27 million at current prices. Several influencers, including ProTheDoge, have been called out for their alleged roles in promoting the project.