New blockchain projects disappeared with user deposits of $1.7 million
Date: 2023-07-07 Author: Karina Ziganova Categories: BLOCKCHAIN
Blockchain projects ChainAegis and Hotbit News conducted a fraudulent rag-pull scheme ("pulling out the rug"), emphasizing $1.7 million in user deposits.
"According to security monitoring conducted by blockchain analysis platform SharkTeam, ChainAegis and Hotbit News committed fraud by stealing about $1,700,000 worth of their users' assets," it said.
One of the biggest victims is the RichQuack staking platform. As a result of the scam, she lost $254,000. The project team reported that Hotbit sold 256 trillion QUACK tokens, which belonged to holders on the PancakeSwap crypto exchange. In addition, the company lost its own QUACK and USDT tokens worth about $100,000.
Other victims of the scam were the BabyDogeCoin and DogelonMars projects. In total, they lost assets of $ 1 million, however, analysts believe that the affected projects may be more. Therefore, SharkTeam advised all partners of ChainAegis and Hotbit News to be on the alert and implement security measures on time.
Last week, Chibi Finance, a DeFi project on the second-tier network on Arbitrum, stole $1 million worth of tokens shortly after launch. The developers of the project deployed a malicious contract that allowed them to steal user funds from Chibi smart contracts. In total, 555 ether (ETH) was withdrawn from the protocol for a total of about $1 million.
In total, in the first half of 2023, the crypto industry lost $655.61 million from hacks, phishing scams, and rag pulls. In total, the attackers carried out 108 attacks on protocols, 110 rag pulls, and a number of phishing scams. As a result, they embezzled $471.43 million, $75.87 million and $108 million, respectively.
The vast majority of cryptocurrencies lost in the first half of 2023 — 75.6% — came from the Ethereum blockchain. In second place were the assets issued on the Binance Smart Chain network.
