A newly launched challenge on the BNB Chain known as OracleBNB has reportedly been rug-pulled and worn out investor funds, blockchain safety agency PeckShield confirmed.
In accordance with the crypto safety monitoring platform, all social media accounts related to OracleBNB had been deleted shortly after buying and selling exercise collapsed early Friday morning. Experiences from Binance Sq. additionally acknowledged that the challenge’s Telegram group was banned, leaving over 1,400 victims unable to contact the crew.
OracleBNB token had soared over 1,280% earlier than collapse
A verified OracleBNB account on X had posted an announcement introducing the ORACLE token early Friday morning. The submit described the challenge as a blockchain-based prediction market that may enable customers to “commerce beliefs, wager on real-world outcomes, and settle immediately on BNB Chain.”
#PeckShieldAlert #Rugpull @OracleBNB on #BNBChain has been rugged. @OracleBNB has already deleted its social platform. pic.twitter.com/QNAgAa7Pua
— PeckShieldAlert (@PeckShieldAlert) October 10, 2025
Inside hours of the submit, buying and selling information from DEXTools.io confirmed that ORACLE’s value surged by over 1,200% after launch, reaching an intraday excessive of $0.003266. Nevertheless, the value collapsed minutes later, plummeting greater than 95% from its peak.
In accordance with a screenshot of the tokens dashboard shared by PeckShield, at round 3:41 PM Chinese language time, the token was buying and selling round $0.0001459, shedding virtually all of the earnings traders had garnered.
A Binance Sq. creator often known as AB Kuai Dong mentioned on Telegram that OracleBNB had initially claimed to be a companion of 4 Meme, the BNB Chain memecoin launchpad. Nevertheless, Dong shared a message from the 4 Meme crew denying any connection to the challenge.
“This Twitter account abruptly grew to become energetic on social media, claiming to be constructing a BNB Chain prediction platform,” Dong wrote. “It was initially mentioned to be doing a product beta take a look at, however within the afternoon it abruptly introduced a collaboration with 4 Meme and that it’s going to challenge a token.”
注意风险！4 meme 那边回复，Oracle 不是它们的合作伙伴，该推特突然在社交媒体上活跃，声称是做 BNB 链预测平台的。
它的 @OracleBNB 推特关注人里，有 CZ 和不少博主，本来说是要产品内侧，结果下午突然说跟 4 meme 合作，要发币了。
经询问，没有合作！小心 pic.twitter.com/Gb4DErnnEY
— AB Kuai.Dong (@_FORAB) October 10, 2025
Dong defined that the OracleBNB Telegram group had 1,431 members earlier than it was banned. He mentioned the account seemed to be an previous, respected one which had been bought and repurposed by a coin-issuing group, then rebranded as a brand new challenge allegedly “incubated by Binance.”
In non-public messages shared by Dong, a number of traders had reported shedding vital quantities after shopping for the token instantly following its announcement. One Ukrainian blogger reportedly misplaced over $5,000, although he averted shedding $9,960 when a Binance pockets error prevented his transaction from processing.
BNB memecoin market is on a massacre
The OracleBNB rug pull comes on the backdrop of a collapse within the BNB Chain memecoin market, the place quite a few tokens have misplaced as a lot as 90% of their worth within the final 24 hours.
BNB-based meme cash akin to PALU surged greater than 1,600% after receiving consideration from Binance founder Changpeng “CZ” Zhao, whereas Binance’s market capitalization hit $500 million earlier this week. One other token, merely known as “4”, gained over 600 occasions its worth inside this enterprise week.
Nevertheless, most of those tokens have crashed by a minimal of 90% throughout the final day. Blockchain analytics agency Lookonchain additionally revealed {that a} BNB whale utilizing the tackle “0x2fcf” withdrew 5,090 BNB price about $6.65 million from Binance on Thursday to buy a number of meme cash shortly earlier than the market collapse.
In accordance with Lookonchain’s report, the whale spent 3,475 BNB, or roughly $4.54 million, on tokens a bunch tokens, all of which are actually buying and selling at vital losses and have made the dealer lose practically $1.2 million in whole.
The whale had invested 2,555 BNB ($3.33 million) into 币安人生, which is now down by $439,000, and 760 BNB ($993,000) into 客服小何, shedding round $700,000. One other 105 BNB ($137,000) went into PUP, which has dropped $47,000, whereas 55 BNB ($67,000) have been used to purchase 哈基米, now down $5,000.
The meltdown additionally affected the 4 Meme launch platform, which went offline for greater than half-hour throughout the day. Customers have been unable to create new tokens, add logos, or carry out migrations as heavy visitors from merchants “dashing to challenge cash” brought on the platform to crash, based on Binance Sq. updates.
