Coinbase Layer 2 BASE has attracted interest from the crypto community since its mainnet launch in August 2023. However, the popularity of the chain h
Scammers have netted nearly $2 million in profit, according to a report by crypto intelligence firm Solidus Labs. Coinbase
Ahead of its mainnet launch, BALD, a meme coin’s liquidity pool on LeetSwap– a BASE-based exchange – experienced a rug pull, a scam in which a developer of a token or NFT suddenly abandons a project and takes investors’ capital. In this case, it is estimated that the deployer netted a profit of $5.2 million.
BALD’s case took $5.2 million from investors, while assets worth more than $728,000 are locked on SwirlLend.is open to all users and scams are a product of this vulnerability. Analysts from Solidus Labs have warned users against meme coins and DEXes being launched on BASE. Funds lost to rugpulls, or to tokens listed only on these DEXes, leave zero avenue for recovery or withdrawal in the event of an exploit.
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