Millions stolen in the most recent DeFi scam series
Series of DeFi hacks, scams and rugpulls continue as some industry developers decide to drop out boat after the first signs of a correction in the market. This time, a total of $ 3.8 million in user funds were stolen.
Metadao rugpull
The first, more significant rugpull appeared only a few hours before press time with PeckShield security firm reporting a Metadao rugpull with 800 ETH being stolen.
The tweet was followed by the etherscan link from the address page which has multiple transactions in the TornadoCash fund mixer. This is considered illegal in many countries as it is often used for money laundering and other illegal activities.
The address has already been marked as the “Metadao” rugpull address. It is currently holding 46 Ethereum coins. The last 75 Ethereum were transferred to the address only two hours ago. Previously, the wallet made more than 50 transactions while having a total of 180 transactions.
Currently, funds remain in the Tornadocash coin mixer, which means that tracking user funds is most likely impossible. The funds will likely be declared lost.
MetaSwap rugpull
In addition to the previously stolen Ethereum, another protocol based on Binance Smart Chain has let down its users by stealing approximately 1,100 BSC. While the value of stolen funds remains relatively low compared to the $3.2 million stolen, users have already expressed their concerns over the general safety of the network and industry.
Some people have accused Binance Network of “fueling” such projects which are initially created to scam their users. The charge has been brought that during the craze for DeFi and NFT in the cryptocurrency market, much of the scam-related tokens, projects, coins and DAOs were created on the Solana or Binance network.
