ARK tokens are a typical contract backdoor-style scam in the cryptocurrency world in 2025, meticulously planned from early packaging to final harvesting. The specific process is as follows:
Early packaging and making promises: The project party, under the banner of "decentralization," made commitments such as permanent locking of LP (liquidity pool), on-chain governance returning to the community, and even forged team backgrounds, falsely claiming to be led by former Ethereum core developers. They created a false impression of "professional reliability" with a white paper full of technical jargon. With this promotion, they attracted 230,000 investors in just two months, with locked funds peaking at over $200 million. Meanwhile, the project party secretly adjusted the transaction fee switch, stealthily raising the publicly announced 0.3% transaction fee to 1.5%, with the additional costs flowing directly into their own wallets.
Hidden deadly backdoor: The project party hid an "unlimited minting" backdoor in the smart contract, where only two privileged addresses could call the minting function, with no restrictions on the number or timing of minting. This critical information was never disclosed to the public. Three days before the collapse, they minted 1,180,000 ARK tokens at zero cost to an anonymous wallet through the privileged address, which accounted for 15% of the circulating supply at that time, becoming the core chips for the subsequent crash.
Lightning-fast harvesting and running away: On November 15, the project party first dumped 1,180,000 tokens into the exchange liquidity pool all at once, causing the token price to plummet from $41 to $11, with a decline of over 70% in 24 hours. They then circumvented the LP lockup restrictions and withdrew 26,260,000 USDT from the pool, splitting the funds into more than 20 anonymous wallets for laundering. Within an hour, the project’s official website and community were completely shut down, and the core team went completely offline, leaving 230,000 investors' assets wiped out in a short time.
Early packaging and making promises: The project party, under the banner of "decentralization," made commitments such as permanent locking of LP (liquidity pool), on-chain governance returning to the community, and even forged team backgrounds, falsely claiming to be led by former Ethereum core developers. They created a false impression of "professional reliability" with a white paper full of technical jargon. With this promotion, they attracted 230,000 investors in just two months, with locked funds peaking at over $200 million. Meanwhile, the project party secretly adjusted the transaction fee switch, stealthily raising the publicly announced 0.3% transaction fee to 1.5%, with the additional costs flowing directly into their own wallets.
Hidden deadly backdoor: The project party hid an "unlimited minting" backdoor in the smart contract, where only two privileged addresses could call the minting function, with no restrictions on the number or timing of minting. This critical information was never disclosed to the public. Three days before the collapse, they minted 1,180,000 ARK tokens at zero cost to an anonymous wallet through the privileged address, which accounted for 15% of the circulating supply at that time, becoming the core chips for the subsequent crash.
Lightning-fast harvesting and running away: On November 15, the project party first dumped 1,180,000 tokens into the exchange liquidity pool all at once, causing the token price to plummet from $41 to $11, with a decline of over 70% in 24 hours. They then circumvented the LP lockup restrictions and withdrew 26,260,000 USDT from the pool, splitting the funds into more than 20 anonymous wallets for laundering. Within an hour, the project’s official website and community were completely shut down, and the core team went completely offline, leaving 230,000 investors' assets wiped out in a short time.
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ARK
0.2831
-1.04%
