BSC-based yield farming protocol Arbix Finance was identified by blockchain security company Certik as a rug pull. According to the firm’s incident analysis, there were several reasons why the project was flagged. The security firm cites that the ARBX contract has mint() with onlyOwner function, 10 million ARBX tokens were minted to 8 addresses, and 4.5 million ARBX were minted … [Read more...] about Certik identifies Arbix Finance as a rug pull, warns users to steer clear
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DeFi ‘Rug Pull’ Scams Pulled In $2.8B This Year: Chainalysis
Thodex was the only ‘centralized’ rug pull on the list, with all others belonging to the decentralized finance (DeFi) category. DeFi projects rely on smart contracts for offering financial services, such as trading, lending, or borrowing, to users. Source link … [Read more...] about DeFi ‘Rug Pull’ Scams Pulled In $2.8B This Year: Chainalysis
How to spot a rug pull in DeFi, 6 tips by Cointelegraph
In our latest in-depth video, Cointelegraph shares six key tips on how to increase your safety when investing in DeFi by identifying rug pulls — One of the most widespread types of crypto scams. Booming growth coupled with a lack of oversight by traditional authorities has attracted an influx of fraudsters to the DeFi ecosystem. According to a recent report by Ciphertrace, … [Read more...] about How to spot a rug pull in DeFi, 6 tips by Cointelegraph
Police forces jump into AnubisDAO saga after $60 million ‘rug’
Launched last week, in the midst of the “dog-coin” surge, AnubisDAO lost control of the project’s liquidity pool, as $60 million of investors’ funds got drained in what appears to be another rug pull incident.Following the accusations, both Hong Kong and US law enforcement got involved, while the suspect developer claimed to have fallen victim to a phishing attack.What happened … [Read more...] about Police forces jump into AnubisDAO saga after $60 million ‘rug’
MoonPirate responds to accusations it is just another Binance Smart Chain “rug pull”
MoonPirate collapses less than half a year after launching on the Binance Smart Chain (BSC), leaving many to question if it was a thinly veiled scam from the start. Given the history of dodgy projects on the BSC, this latest incident does little to dispel such associations.Nonetheless, the MoonPirate team has responded, saying the project is untenable, having suffered … [Read more...] about MoonPirate responds to accusations it is just another Binance Smart Chain “rug pull”