KonnectNet's mission was to disrupt the pyramid structure of duty-free business, gamify the process of distribution, selection, and reselling activities through blockchain and NFT. The project is well marketed by Huobi Global as well as a few less-known influencers.
Peckshield reported that the project was rugged.
Onchain verification revealed that the contract deployer took KCT tokens across 49 transactions into various addresses where they were swapped for an aggregated total of 607 BNB. These were then consolidated into a collection address at 0x5b96b9aa9118e9c3fdcbbd49c196c434db3066a5 before it was liquidated via Tornado.cash.