The developer of the AlleyCat cryptocurrency project on Solana allegedly misused 600 SOL (~$130,000) raised during the project’s presale, diverting it to gambling platforms like Sportsbet.io and Bitcasino instead of funding token liquidity as promised. Despite raising significant funds, only 18 SOL (~$11,000) was used for liquidity. In total, approximately $827,000 has flowed through the developer’s Sportsbet.io account over seven months. Crypto watchdog Rug Pull Finder has accused the developer of being involved in other rugpull scams as well.
Source: https://rugpullfinder.co/scams/f/alleycat—the-gambling-deployer