Anonymously identified blockchain analyst ZachXBT sounded the alarm on a gang of swindlers planning to ensnare more unsuspecting victims with millions of ill-gotten gains under their belts.
On X’s discussion forum, ZachXBT revealed the results of an examination into Leaper Finance, a lending platform built on Blast. Based on his research, this team is linked to multiple instances of rug pulls. These incidents resulted in significant losses for users of Magnate ($6.5 million), Kokomo ($4 million), Solfire ($4.8 million), and Lendora.
Previously, they allowed the TVL (Total Value Locked) in their protocol to reach seven figures before allegedly stealing all deposited user funds and forged KYC documents, as well as engaging low-quality audit firms. More recently, they have reportedly carried out scams on various platforms such as Base, Solana, Scroll, Optimism, Arbitrum, Ethereum, Avalanche, and so on.
The team is suspected of carrying out fraudulent activities on Hash DAO, Glori Finance, and ZebraDAO, causing damages totaling more than $20 million.
When the creators of a blockchain project unexpectedly and instantly take out all the money from the communal pot or account linked to their protocol’s liquidity pool, this is referred to as a rug pull. Investors who had put their funds into this pool are left holding tokens or assets with no value.
In their most recent con scheme, the suspects are said to have transferred around $1 million from past frauds to boost a Leaper Finance account on the Blast system. This move aimed at increasing the availability of funds and attracting more victims.
After Leaper Finance’s involvement in the scams became public knowledge, they responded to ZachXBT with harsh words and announced a new “token initiative.”
“Great job! The team at Lazaras is both intimidated and impressed by you,” they commented, in relation to the infamous North Korean hacking group, Lazarus. Recently, Leaper Finance and Glori Finance accounts on platform X have been disabled, along with their respective websites.
In a report published on February 29, 2024 by cybersecurity company Immunefi, it was revealed that approximately $200 million in cryptocurrency was stolen through hacks and rug pulls during the initial two months of the year. This occurred across thirty-two distinct occurrences.
Read More
- Best Race Tier List In Elder Scrolls Oblivion
- Elder Scrolls Oblivion: Best Pilgrim Build
- Gold Rate Forecast
- Becky G Shares Game-Changing Tips for Tyla’s Coachella Debut!
- Yvette Nicole Brown Confirms She’s Returning For the Community Movie
- Jelly Roll’s 120-Lb. Weight Loss Leads to Unexpected Body Changes
- Carmen Baldwin: My Parents? Just Folks in Z and Y
- Schedule 1 – Best Automatic Bungalow Setup
- `Tokyo Revengers Season 4 Release Date Speculation`
- Elder Scrolls Oblivion: Best Thief Build
2024-04-15 04:07