Drama has surrounded the Oyster Pearl token for the past few weeks, and those who were suspicious about the coin appear to be right. The anonymous creator & owner of the platform who goes by ‘Bruno Block’ printed 3 million new PRL tokens and sold them for approximately $300,000 yesterday of another platform.
Social media panic ensued.
Warnings to cease all trade of PRL tokens spread like wildfire.
But how did Bruno Block do it? By finding and taking advantage of a hole in their smart contract. The error was a provision contained in the tokens contract that set DirectorLocke to false. He then held a second ‘ICO’ and sold himself the 3 million tokens that he then traded for $300,000 on a different platform.
How did the internet find out so quickly? Bruno Block’s own employees tweeted out stating that…
“We can confirm someone has taken control of the Smart Contract. Do NOT BUY ANYTHING. We are waiting for more information and also trying out best to close KuCoin’s trading right now!”
KuCoin’s was PRL’s biggest trading platform.
But why did Bruno Block do it?
Essentially, he wanted to make a statement. Block took to Telegram to state his official excuse. He says he did what he did because Bill Cordes accused him of insider trading. So instead of just taking the abuse Block reacted on Telegram stating…
“I warned Bill against insider trading, he didn’t care. So instead of him and his VC friends dumping on you, I dumped on him.”
After the initial comment, a heated conversation between Block and Cordes ensued. But the conversation was about more than just their rivalry.
Block said that all trading of PRL should cease until Oyster’s news protocol goes live. Who’s helping develop the new protocol? No one. Block stated over Telegram that he fired his team but he will continue to develop Oyster as Block still believes in the next iteration of the internet.
For me, the most exciting part of Block’s Telegram extravaganza was his warnings. Not only did he proceed to warn the world about Tether, but of the future of the world itself.
“Go educate yourselves about what is happening with Tether. The entire crypto sphere is a giant Ponzi scheme. I warned all of you, multiple times, in private and public, and nobody listens. Ethereum is going back to $5. If you want to sell back to a greater fool then you will only find yourselves to be that fool.”
“I believe in Oyster as a product, but I don’t believe there will be a future to host it. I will program it since the program is a promise from me, but I don’t complaint that Oyster isn’t running when a banana costs $5,000.”
Block’s final words? The apocalypse is coming.
“Anyone here who has swiped a credit card or taken an interest-bearing loan has the blood of the incoming collapse on their hands. Billions of people will die, there are massive droughts and food shortages as we speak. I’ve made a lot of dollars by selling PRL, I immediately [sic] ditched the dollars to buy real things so that I can protect myself and my family from the collapse. That’s all I ever wanted, and now that I have that secured, I will deliver the protocol which I promised myself. Give me some time to get my head straight after these dramatic few days, I will gradually post progress on github.”