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Ordinals Finance, an Ethereum-based decentralized finance (DeFi) protocol that allows users to lend and borrow inscriptions, has been accused of performing an exit scam, also known as a "rug pull." In an April 24 press release seen by Cryptox, blockchain security firm CertiK reported that the protocol's developer pulled 256 million
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As the growing liquidity strain in the price of Bitcoin is a major concern, American banks are likely to start exploring new avenues to rebuild that part of the industry. The recent bank runs of American banks as recorded in March have fueled a massive pulldown on the liquidity base of
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"The main worry is what this will do short-term to market liquidity - if market makers step back from trading on Binance now, and if Binance's U.S.-based trading desks have to stop operations, that will reduce liquidity in an already thin market," Noelle Acheson, the author of the popular Crypto
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Bitcoin funds are bleeding coins even as U.S. bank failures fuel expectations of an early Federal Reserve pivot in favor of liquidity easing. Usually, if the Fed doesn't raise rates aggressively like it has been doing, risky assets like bitcoin benefit, but the opposite is occurring with the bitcoin funds.
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The team behind nonfungible token collection Friendsies has refuted claims they are “abandoning” the NFT project following a tsunami of “rug pull” accusations. On Feb. 21, the founders behind the NFT project told their Twitter followers that they werputting a “pause” on Friendsies and “all future digital goods” for the
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Prominent NFT influencers such as generative artist Jen Stark and Rug Radio host Farokh were named as early promoters of the project, which raised millions from its initial drop. Source
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"As part of Defendants’ NFT scheme, Defendants marketed CryptoZoo NFTs to purchasers by falsely claiming that, in exchange for transferring cryptocurrency to purchase the CryptoZooNFT, purchasers would later receive benefits, including, among other things, rewards, exclusive access to other cryptocurrency assets, and the support of an online ecosystem to use
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The U.S. government has arrested and charged the creator of “Mutant Ape Planet” non-fungible tokens (NFTs) for allegedly defrauding crypto investors. “The purchasers were ‘rug pulled,'” the Department of Justice (DOJ) described, adding that millions of dollars in cryptocurrency were diverted for the NFT creator’s personal benefits. DOJ Takes Action Against
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The group says it’s retrieved all the funds after offering a bounty to the hacker. Source
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Defrost Finance, the decentralized trading platform that suffered a $12 million exploit in the days leading up to Christmas, has denied allegations that it had “rugged” its users as part of an elaborate “exit scam.”On Dec. 23, the platform announced it suffered a flash loan attack, leading to the draining
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