Metalands Loses 5 Million PVP Tokens in a Scam – What Happens Next?
Metalands, the highly anticipated PvPvE progressive-world survival shooter game, has recently fallen victim to a devastating scam. The incident has not only resulted in the loss of valuable tokens but has also shattered the trust within its community.
In this article, we will discuss the details of what transpired, the impact it has had, and the steps Metalands is taking to rectify the situation and regain the trust of its supporters.
How the Scam Happened
During the migration process from Citizen Finance to Metalands PVP, an additional 5 million tokens (currently worth around $142,240) were minted for marketing and exchange listing purposes. The original plan was to vest these tokens for several months before introducing them into circulation. However, an unfortunate turn of events unfolded when the Metalands team encountered an enticing offer from a buyer looking to purchase PVP tokens at a price higher than the market value.
Intrigued by the offer and after conducting tests, the team decided to proceed with the transaction. The buyer suggested involving Joe Black as an escrow service, and given the level of trust placed in the buyer, the team agreed. However, little did they know that they were about to fall into the trap of a scammer.
The buyer, impersonating Alexis’ account (Alexis is a Metalands admin), duped Joe Black into believing they had completed a successful ETH transaction. Trusting the buyer, the Metalands team transferred all the PVP tokens. It was only later that the heartbreaking truth was revealed—the buyer had scammed Joe Black, resulting in the loss of all the PVP tokens. As a damage control measure, the team promptly removed liquidity, incurring a significant loss of $16,000 worth of PVP tokens.
What’s Next?
The repercussions of this incident extend beyond the financial loss. The team recognizes the profound impact it has had on the trust within their community. They found themselves left with no choice but to undergo another migration. The scammer now holds a substantial amount of 1.8 million PVP tokens, necessitating swift action to protect the project’s integrity.
In light of the scam, the team has taken a snapshot, ensuring that all community members will receive a 1:1 airdrop of the new PVP tokens in the future. This gesture demonstrates their commitment to the community and their determination to rectify the situation.
Metalands team views this incident as a vital learning experience. They are now actively working on strengthening their security measures and implementing strong precautions to prevent such scams from occurring in the future.
About Metalands
Metalands is a PvPvE progressive-world survival shooter game. Players not only compete against each other but also face the dynamic challenges posed by the environment. As players progress, they have the opportunity to earn valuable resources in the form of mystical objects, which can be exchanged for chests containing valuable items.
Previously, Metalands announced its PvP Testing. If you want to read about it, click here.
