Swaprum (SAPR)
An Arbitrum DEX (token SAPR) whose deployer rug-pulled ~$3M in May 2023 by using proxy upgradeability to swap the audited staking contract for a malicious one. Funds were laundered via Tornado Cash. CertiK had audited it weeks earlier and later flagged it an 'exit scam'.
Also known as: Swaprum, SAPR
Summary
Swaprum was an Arbitrum-based decentralized exchange with the token SAPR. On May 18, 2023, its deployer rug-pulled about $3 million by using proxy upgradeability to replace the audited staking ("MasterChef") contract with a malicious version that drained staked LP tokens and minted SAPR. [1][2]
Aftermath
The funds (~1,628 ETH) were bridged to Ethereum and laundered through the Tornado Cash mixer, and Swaprum deleted its social accounts. CertiK had audited the protocol on May 5, 2023, flagging major centralization and upgradeability risks; it later flagged Swaprum as an "exit scam." [2][3]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
Sources (3)
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.