Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131
Chibi – Cryptocurrencypanther https://cryptocurrencypanther.com Latest Crypto News Tue, 27 Jun 2023 12:34:54 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://cryptocurrencypanther.com/wp-content/uploads/2021/07/cropped-Cryptocurrency-e1626714913653-32x32.png Chibi – Cryptocurrencypanther https://cryptocurrencypanther.com 32 32 Chibi Finance team executes $1M rug pull, CHIB plummets 98% https://cryptocurrencypanther.com/2023/06/27/chibi-finance-team-executes-1m-rug-pull-chib-plummets-98/ https://cryptocurrencypanther.com/2023/06/27/chibi-finance-team-executes-1m-rug-pull-chib-plummets-98/#respond Tue, 27 Jun 2023 12:34:54 +0000 https://cryptocurrencypanther.com/2023/06/27/chibi-finance-team-executes-1m-rug-pull-chib-plummets-98/

  • Chibi Finance has allegedly executed a $1M rug pull on Layer 2 blockchain Arbitrum.
  • The team has vanished and their social media accounts are inaccessible.
  • Security platform Peckshield says the team channeled the funds via Tornado Cash.

Arbitrum-based DeFi project Chibi Finance has disappeared into thin air with $1 million in what is reported to be a potential rug pull.

Chibi Finance, which went live only recently on Arbitrum’s Layer 2 network, is said to have drained its liquidity pool, vanishing with 555 ether (ETH). At current market prices, that’s about $1 million worth of user deposits.

Chibi Finance latest in rug pulls

According to an alert by blockchain security and data analystic firm PeckShield, the Chibi Finance team withdrew staked tokens by converting them to ETH and then funneling them to the Ethereum network via the crypto mixing service Tornado Cash.

The Chibi Finance team has allegedly also “disappeared” with the DeFi projects social media accounts on Twitter and Telegram deleted. The platform’s website is also offline.

Chibi Finance’s apparent rug pull adds to the recent spate of bad actors in the Arbitrum and Ethereum ecosystems. In April, zkSync project Merlin allegedly siphoned off $2 million from its users. Meanwhile, Arbitrum-based Swaprun vanished in May, with close to $3 million of user funds in another rug pull.

CHIBI, the native Chibi Finance token, has plummeted following the news. After trading above $1.62 on Monday, CHIB price fell sharply on Tuesday morning to almost zero. Data from CoinGecko shows the crypto token has lost 98.7% of its value in the past 24 hours and currently hovers near $0.017.

Share this article
Categories
Tags





Source link

]]> https://cryptocurrencypanther.com/2023/06/27/chibi-finance-team-executes-1m-rug-pull-chib-plummets-98/feed/ 0