Have you seen the ways in which defi projects in icp run away?

$king token just one day of trading on ICPSWAP
, deleted the canister ,roll and ran away.

woke up in the morning and watched the discussion in the ic group. Where did my $king coin go?It’s ironic. Why is the mechanism design of the ic so unreasonable? If a token is created and cex is listed, you can still have the right to delete it at will?The scammers defrauded hundreds of icp, and the data was deleted very cleanly.…

I hope the dfinity team can explain this ic, which feels inconsistent with decentralization

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Delete the jar to do evil, this is an obvious centralized operation, I really can’t understand it.So the ic products we use have this type of human risk?Who dares to play with such a ”defi"?

If true, the situation for tokens produced on the Internet Computer (IC) could be alarming.

Decentralized Exchanges (Dex) might be compatible with Bitcoin (BTC) and Ethereum (ETH) integration, but the prospect for native tokens doesn’t look promising.

Anyone who has invested in KING might want to thoroughly examine their wallets and past transactions at: https://dashboard.internetcomputer.org

The $king token id is disappeared . canister date deleted

Could you guide us where to look at there ? Thanks

This looks like rugpull.


All who took part in #KING, please report @theicpking to the relevant authorities. If there’s no foul play but a simple mistake, there will be no harm done, and you can expect #ICP tokens returned as they’re in his possession.

Paste your wallet address into the search at https://dashboard.internetcomputer.org/ to review transactions.

p.s. He should ask how to refund ICP tokens to buyers, rather than giving generic chatgpt apologies for errors and omitting any plans for rectification. #AccountabilityNeeded

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To weigh in on this, Im not sure exactly what happened to the token canister, but the person who launched the canister said he was trying to also install the frontend on the same canister?

To me this just means there was a level incompetence by the developer, and you cant really get rid of that in any system.

The way things like this can be resolved is if the token canister is black-holed meaning no one can then re-install the canister and all tokens would be safe. It would be pretty easy for Defi dApps to add something like a verification badge next to tokens that are black-holed and immediately solve this issue.


Nah it was pretty much a DIP-20 rug pull, hyped it up followed everybody asking around trying to build a community. Then when he launched and people who bought complained there was no price change he just closed shop. “–mode reinstall” and talking about rollback are clear signs.

Maybe there is something in the works with ICRC-2 3 and so forth, not up to date with that yet.

Investing in a token where the ledger canister still has controllers / isn’t blackholed should be an immediate red-flag.

And it doesn’t matter what token protocol it is, this can happen to any canister that isn’t blackholed.


This is inevitable on ICP. If DFINITY had worked on official token standards with better security assumptions, we wouldn’t have to worry about Canister Smart Contracts vanishing or moats hindering interoperability when dealing with DeFi or NFTs

Dfinity isnt event part of of this issue. You are kind of suggesting token / NFT standards by dfinity should be used. Which also implies you prefer gatekeeping

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This isn’t on DFINITY. This comes down to the fact that most people in this space are to lazy or incompetent to make responsible decisions. Unless the devs behind the project are doxxed you should never invest into a canister that isn’t blacked holed. For everyone that lost money it sucks to suck and they should prob get out of crypto since its obvious they only want to secure a bag and don’t care about innovation or technology. I have no empathy for incompetent greed


They did, it’s called the SNS.

However, since it is a permissionless world computer that, unlike others isn’t only about tokens, everyone is free to create a ledger without using the SNS and sell tokens on ICPSwap.
Pretty much the same way you can create a token ledger on ETH and add it to Uniswap.