Are The Rugging Rumours True?!

Over the last 24 hours, rumors have circulated about a possible rug pull on the popular rarity tools NFT platform Trait Sniper. In the official Discord, one person, allegedly a developer on the project, accused one of the founders, Kiraa, of attempting to take all the money out of the project. This morning on Twitter, Kiraa responded to the rumors. However, it does not look good for anyone invested in the Trait Sniper project, which coincidentally turns one today.

Image of purple Trait Sniper banner — One of the founders of Trait Sniper, the NFT trading platform is accused of rug pulling the project.

What is Trait Sniper?

Trait Sniper (TS) is an NFT trading platform with over 2 million active users. The platform provides sniping and rarity tools to its clients. To gain access to the platform, you must buy a Lifetime Access Pass for Trait Sniper NFT.

There are 3,333 in total, and since the rumors began, the price has fallen drastically. In the last 24 hours, the floor price has gone from 0.14 ETH to 0.07 ETH.

Rug rumors spread in Discord

Yesterday, a user named ‘2b’ made an astonishing claim in the official TS Discord. They said, “One of the Trait Sniper founders bouta rug with all the money.” They went on to discuss leaving the project with other developers in the team. The user also explicitly mentioned one of the founders, Kiraa, as the culprit. They stated, “but yeah, we are trying to protect users on the technical side from Kiraa rugging.”

Image of Trait Sniper Discord chat — A dev in the official TS Discord has accused the founder, Kiraa, of trying to steal funds from the project.

Founder responds to Trait Sniper allegations

Kiraa, one of the TS founders, tweeted a huge thread this morning, explaining the latest updates for the project. They said, “I personally mismanaged our funding, and a significant portion has been compromised in my hot wallet. Since then, we have run dry and tried many strategies to stay afloat.”

Kiraa also announced several job losses. However, they claim there is no rug pull, and that they will continue working on the project.

The response to the thread was a mix of confusion and concern. It is unclear whether the Trait Sniper project will recover from these admissions of fund ‘mismanagement.’ However, some in the TS community still believe this is part of a wider rug pull.

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