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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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In a tweet thread posted Dec. 25, the Defrost team said a first attack used a flash loan to drain funds out of its V2 product. A second larger attack used the owner key to exploit V1. The protocol, which offers leveraged trading on the Avalanche blockchain, didn’t say how
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According to the study, in many rug pull cases, the theft occurs exclusively on-chain: “The scam is encoded in the token’s smart contract, the token is traded on a decentralized exchange, and the scammer’s illicit profits are denominated in crypto, not fiat currency.” Source
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In just over a week after pulling off the $117 million exploit of Mango Markets, Avraham Eisenberg is now boasting about making $100,000 rug-pulling a “shitcoin” called Mango Inu, again claiming he "did nothing wrong." Eisenberg recently ousted himself as one of the persons behind the recent $117 million exploit of
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“We learned a lot from our first foray into Web3, and we are excited to carry Vault’s concepts around community storytelling into future projects,” said Vault. “While we will no longer be developing or maintaining this community, the Vault NFT collections will live on.” Source
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Bitcoin (BTC) traders lay in wait for fresh volatility on Sept. 29 as BTC/USD cooled near $19,000.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewVolatility absent a day before the monthly closeData from Cointelegraph Markets Pro and TradingView charted a calm overnight phase for the largest cryptocurrency, which hit intraday highs above
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The website of the newly launched Dragoma token has been deleted and its social media channel erased. Original Source
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Prices of the Dogecoin-inspired fell some 99.7% in the past 24 hours. Source
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The domino effect of the 2022 bear market, which saw the downfall of numerous crypto ecosystems and tokens over several months, caught up to GARI token as it tanked over 83% in value in a matter of hours on June 4. While GARI Network brushed off the development as a
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New York State Senator Kevin Thomas introduced a new bill amendment request to establish certain offenses related to rug pulls and other frauds related to virtual token distribution, misuse of private keys and hidden interests in crypto projects.The bill drafted by Sen. Thomas, Senate Bill S8839, calls for defining, penalizing
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