A vast majority of Cardano (ADA), Polygon (MATIC) and Shiba Inu (SHIB) holders are sitting on unrealized losses, according to data from crypto intelli
Coinbase exchange's Layer 2 chain, BASE witnessed another rugpull on Magnet Finance, a lending protocol hosted on the blockchain. The users of the protocol lost $6.4 million to the deployer, a scammer associated with exploits of Kokomo Finance and Solfire. Crypto expert ZachXBT identified the vulnerability and informed his 434,000 followers, nearly an hour before the exit scam.
Magnate Finance refers to itself as a novel lending protocol on Coinbase’s BASE chain. The protocol amassed $6.4 million in crypto assets locked on its platform since its launch on August 4, according to DeFiLlama. ZachXBT identified links between the deployer of the project and the Kokomo Finance exit scam. Information on these pages contains forward-looking statements that involve risks and uncertainties.
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