Ring Financial
https://www.ring.financialRing Financial started life as Stalintoken ( stalintoken.com ), later rebranded as ring.financial, promising high-yield farming and node staking with extremely high APYs. This project launched through the Unity Project software and launched a token with a 99% controlled supply, and a 1% liquidity pool.
This project is considered as a Financial crime for his massive and premeditated dump that caused the loss of millions of dollars.
Landing Page Snapshot
About the project
These pieces of evidence reveal a clear pattern of negligence. They can be traced and correlated to reconstruct the full history of the project. Ring Financial was presented as a template of the Unity project, created by Tugan Bara, who acted as a financial advisor.
Tugan recruited members from his own community who were fully aware of their actions to create, distribute, and market Ring. These people were motivated purely by financial gain. They were willing to steal from thousands of people without hesitation.
Later we will examine who they are and exactly how they spent the money. Ring Financial ended in disaster. Tens of millions were stolen. Buyers were left with nothing. This was a nine-figures scam, run by an organized team that remains untouchable and active today.
Blockchain analysis
The RING token has been minted on November 04, 2021 at 01:14:26 PM UTC, alongside its Pancakeswap liquidity pool ( view on bscscan ↗ ). A total of 20,456,743 RING tokens were minted, and 19,456,743 RING tokens were instantly burned at the time of token creation, leaving 1,000,000 circulating tokens. 10,000 tokens (1%) were added to the liquidity pool, along with 17.88 BNB ($10,003.86) ( view on bscscan ↗ ). The remaining 99% of the supply was split into 6 team wallets. These wallets have been continuously selling millions of dollars' worth of tokens.
If a token meets these conditions, it can be classified as a
financial crime:
- Deceiving Investors:
Artificially inflating the token price to sell at a higher value
constitutes clear fraud.
-
Control of Majority Tokens:
Holding a significant portion of the tokens allows market
manipulation and liquidity distortion.
-
Registration with Regulators: If the token is considered an investment, it must be registered
with the appropriate financial authorities and comply with
securities regulations.
-
Deception and Lack of Transparency: Concealing crucial information, such as transaction fees or
token distribution, is fraud and deceives investors.
-
Violation of Financial Laws: A combination of these practices—price manipulation and lack of
transparency—directly violates financial laws.
- U.S. Legislation: U.S.
law is particularly harsh on financial fraud, with prison
sentences potentially applied if American buyers are involved.
More to come...
- Token address: https://bscscan.com/token/0x521ef54063148e5f15f18b9631426175cee23de2
- Main pool address: https://bscscan.com/address/0x04134Cf96d5A67a7cD9f87d6f94a5Fdb15803983
- Dexscreener: https://dexscreener.com/bsc/0x521ef54063148e5f15f18b9631426175cee23de2
- Token creator: https://bscscan.com/address/0xa94478077f638e330e786b788601286aec7190b1
- Token mint and Pool creation tx: https://bscscan.com/tx/0xe9f00347e1d0918cb893218a200db344cee83a4621adcf63f1500f60f308e651
Links
- Website: https://www.ring.financial
- Ring Financial Website Archive: https://web.archive.org/web/20260000000000*/https://ring.financial
- Stalin Token Web Archive: https://web.archive.org/web/20211227184253/http://stalintoken.com
- CoinMarketCap: https://coinmarketcap.com/currencies/ring-financial
- Whitepaper: https://resources.cryptocompare.com/asset-management/16418/1723629694905.pdf
From Ring Financial to Side.xyz
The team that ran Ring Financial decided to try again, creating Side.xyz.
Ring Financial
Darius
Side.xyz
Zoroastra
