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Blast's Leaper Finance flagged; "the group of scammers who stole 8 figures"

Monday, April 15, 2024 02:29 AM | Invezz via QuoteMedia

Blast’s Leaper Finance flagged; “the group of scammers who stole 8 figures”

2024-04-15 02:29:19 ET

Masked Hackers

Blockchain security firm ZachXBT questioned the legitimacy of Leaper Finance, a new project on the L2 platform Blast.

ZachXBT linked Leaper Finance with a fraudulent group that stole eight figures with multiple platforms, including Magnate, Lendoro, Solfire, and Kokomo.

The security firm has made a name by flagging multiple rug pull incidents within the cryptocurrency market.

According to ZachXBT, the scammers used money laundered from previous heists to fund a Blast wallet last week. The group deposited around $1 million, a step towards increasing liquidity to lure investors and traders.

Previously, they attracted depositors and stole all their assets once the TVL hit seven figures. They adjusted KYC protocols and low-tire audit firms to trap victims.

Furthermore, the scammers have active swindle schemes on Base, Solana (SOL), Optimism (OP), Arbitrum (ARB), Avalanche (AVAX), Ethereum (ETH), and Scroll.

ZachXBT trusts the same scammers could be behind the Zebra Lending protocol on Base, running with a $311K total value locked.

The on-chain detective urged users to withdraw their assets from the protocol.

About Blast

Blast is an Ethereum Layer2 scaling solution, offering native yield for Ether and stablecoins such as USD Coin (USDC), DAI, and Tether (USDT) for depositors.

Blast has attracted various projects due to multiple factors, including low costs, high speed, and passive income for depositors.

The post Blast’s Leaper Finance flagged; “the group of scammers who stole 8 figures” appeared first on Invezz

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