Overview
Safereum launched as a memecoin combining SafeMoon's deflationary tokenomics branding with Ethereum name recognition. The project promised a suite of DeFi products including a DEX, staking platform, and bridge. In October 2023, the team executed a rug pull, draining approximately $2 million in liquidity from holders. The deployer wallets converted the stolen funds through multiple mixer transactions.
Community
Pre-rug, Safereum cultivated a community through Telegram groups and Twitter hype campaigns typical of scam memecoin launches. The community was built on false promises of upcoming product launches and utility. Post-rug, all community channels were abandoned. Any remaining "community" consists of scam victims seeking recourse.
Liquidity
Liquidity was drained during the rug pull. Before the rug, the project had accumulated several million dollars in DEX liquidity pools, which were emptied by the team. Post-rug, the token is worthless with no functioning markets. Any remaining DEX listings show zero or near-zero liquidity.
On-Chain Metrics
Post-rug on-chain metrics tell the story of a dead project. The rug pull transactions are visible on-chain, showing the systematic draining of liquidity pools. Remaining token holders are stuck with worthless tokens. The on-chain forensics clearly demonstrate the premeditated nature of the fraud.
Development
All promised development was fabricated. No DEX, no staking platform, no bridge was ever built. The smart contracts were designed with backdoor functions enabling the liquidity drain. The "development roadmap" was a social engineering tool rather than a genuine product plan.
Risk Factors
- CONFIRMED RUG PULL: ~$2M stolen from holders in October 2023
- Fabricated utility: All promised products were fake
- Smart contract backdoors: Contracts designed to enable theft
- Anonymous team: No accountability for the fraud
- Zero remaining value: Token is worthless post-rug
Conclusion
Safereum is a confirmed rug pull that stole approximately $2 million from its holders. The 1.0 score reflects a fraudulent project with zero value. The combination of SafeMoon and Ethereum branding was designed to attract retail investors with familiar names. This project serves as a case study in memecoin fraud — fabricated roadmaps, anonymous teams, and smart contract backdoors.