rug pulls
New York Lawmakers to Make Rug Pulls in Crypto a Crime
The State of New York may soon make a move to christen “Rug Pulls” in the digital currency ecosystem an offence, should a bill dubbed Senate Bill S8839 be passed into law.
Magnate Finance Deployer Gained $16.7M in Rug Pulls and MAG Down Over 90%
Magnate Finance, a project on Coinbase's BASE platform, has been linked to a series of rug pulls totaling $16.7M. The deployer, known for real-time risk alerts, has connections to other significant scams, including Solfire's $4.8M scam and Kokomo Finance's $5.5M scam. Magnate Finance's protocol token MAG has experienced a 90% drop, highlighting the inherent risks in the decentralized finance sector.
BNB Chain Dominates Q1 2023 Rug Pull Scams
According to a report by blockchain security firm Immunefi, BNB Chain saw 73.3% of all rug pull scams in the crypto ecosystem during Q1 2023. The report also revealed that BNB Chain and Ethereum were the two largest targets for hackers and scammers, with 68.8% of total losses from these networks combined.
Tackling DeFi Scams: Making Pre-sale Ecosystems Safer
Investors are aware that “rug pull” scams have negatively affected the reputation of the DEFI/DEX space in recent times. But liquidity protocols could be an effective solution.
Bitwise Pulls Bitcoin ETF To Sort Through SEC Response
Bitwise has officially withdrawn its Bitcoin exchange-traded fund registration filing from the United States Securities and Exchange Commission.
Ethereum Price Hits New All-Time High of $1460 as BTC Pulls Back, Why ETH Will Continue Surging
While Bitcoin has been consolidating and pulling back since its ascent above the $40,000 level, Ethereum (ETH) has soared to a new record-high of over $1460.