The page highlighted having support from companies like EA Sports, UFC, and the Crypto.com exchange. The smart contract from the sale presents that around 560 BNB got raised from it.
“Win real money while you play,” highlighted the welcome sign on the page. But, the only ones who made money were the developers of the page. The website got taken down after raising just over 560 BNB (about $ 325,000) in three days for selling a token that was supposed to serve in a UFC video game.
On the page of what seemed to be the next big play-to-earn game, you only see a message from the Wix server indicating that no website is associated with that address. The token in question was UFCT, developed on the Binance Smart Chain (BSC). There are at least 10 million units of the said token, and at least 735 addresses have it in their possession.
Poocoin, a Binance Smart Chain price tracker, shows there is no current market for this token. It means no one got interested in purchasing it, or there is no liquidity in decentralized exchanges, for example, in PancakeSwap. UFCT holders would probably not be able to get any financial return on the investment they made.
The token was for sale on the page of the video game. Until the moment of what appears to be an exit scam, at least 7 UFTCs got sold for 1 BNB, which is the native cryptocurrency of the BSC network.
When the sale was still active, some discovered some red flags. The development of the video game seemed to receive support from EA Sports, and it also would have a backup from the Crypto.com exchange.
But there was no official statement from the allegedly intervening companies indicating that, indeed, they were about to launch a video game that would allow them to win tokens.
The Youtuber CryptoShark had uploaded a video (while the sale was still taking place) in which he showed other warning signs that he detected. One of them was that the images of the said game belonged to another existing video game.
When searching Google for the images provided by the video game page, the search engine indicates that they are from EA Sports UFC Mobile 2 for iOS and Android devices. This game got released many months ago, and it has nothing to do with cryptocurrencies.
The red flags kept emerging when browsing the page of the supposed game. It was striking that the only language available was Spanish. It was also curious that the developer remained unidentified by the first and last name on the game page.
A scam Inspired by the Squid Game
The allegedly criminal operation of the creators of the UFC Crypto Game has a recent precedent. A token called Squid would be part of a supposed future play-to-earn video game based on the television series “The Squid Game.” But, like ufccryptogame.com, the creators of the game simply vanished from the network. On that occasion, they managed to get hold of the sum of USD 2.6 million.
Unlike what happened with the UFCT token, the Squid token managed to get traded on decentralized exchanges. In a short period, it rose from $ 30 to $ 2,800.
Investors who were able to sell their tokens before the exit-scam occurred (which, in that case, happened when they took all of PancakeSwap’s liquidity) managed to get profit from their investment.
By: Jenson Nuñez
