NFTs have now become one of the integral parts of the crypto money industry, and companies that turn to this field are also making serious money. Ethereum network based OpenSeaAfter ‘s reaction with high transaction fees, alternatives started to come. looksRare was one of these alternatives.
OpenSea May Take Back Share Of NFT Sale
LooksRare actually tried to encourage people here with its own cryptocurrency called LOOKS. LOOKS, which launched a vampire attack on OpenSea, was successful at first, but now it looks like the team’s original plan has emerged. The managers of the community had to admit this situation after the mobility in the wallets appeared. Platform executives have confirmed that they have sold $30 million worth of Ethereum.
LOOKS on stakers 30 million dollars the winning team achieved this by actually processing the unstacked LOOKS tokens themselves. Millions of LOOKS tokens were airdropped to users, and some of the users did not even withdraw them to their accounts. The LooksRare team, on the other hand, transferred their income from staking them to Tornado Cash, which is used to make it harder to track.
According to blockchain data, the team has so far of $73 million withdrew funds.
Update: The @LooksRareNFT team has already cashed out 23116 WETH ($73,000,000). This doesn’t include the value of $LOOKS.
Most of it is going straight to Tornado Cash. https://t.co/KjBeuqDCwS pic.twitter.com/zf9YKYb60v
— tradfi guy (@0xShitTrader) February 7, 2022
Data about the team was revealed days ago, but no one has yet received confirmation. The team officially confirmed this, and the severity of the falling price increased even more. LOOKS, in the last 24 hours 15% decrease and this decrease reached 43% in 7 days. Looks like another duplicate project has come to an end.