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Cryptocurrencies: 28767
Markets: 114700
Market Cap: $2,441,863,169,223     
24h Vol: $95,620,982,726
Coin-turk.com 2023-08-25 14:55:14

Rug-Pull Fraud Occurred After Warning: Magnate Finance on Layer-2 Platform

Rug-Pull Fraud Occurred After Warning: Magnate Finance on Layer-2 Platform
Coinbase‘s Layer-2 protocol, Magnate Finance, a lending and borrowing platform, pulled out $6.5 million in user assets with a rug-pull after researchers on the chain, such as ZachXBT, warned about the possibility of an exit scam due to various actions by the project’s founders. Blockchain analytics firms have traced part of the stolen funds to be transferred to the BNB Smart Chain.The post Rug-Pull Fraud Occurred After Warning: Magnate Finance on Layer-2 Platform appeared first on COINTURK NEWS.
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