In yet another case of a rug pull, Arbitrum-based Chibi Finance reportedly siphoned more than $1 million worth of various crypto assets. Notably, the protocol went live on Tuesday, but the developers managed to launder the stolen funds to other networks shortly after.
On-chain analysis conducted by blockchain security platform CertiK revealed that Chibi devs deployed a malicious contract that enabled them to steal user funds from the protocol’s smart contracts.
These funds were then sold for 555 Ether and transferred from Arbitrum to Ethereum on the same day, as per another security firm PeckShield, before being funneled to the coin mixing service Tornado Cash to conceal transaction trails.
Following the rug pull, Chibi Finance’s Twitter and Telegram profiles were disabled, and the website was deleted.
CertiK said that the latest exit scam is the 12th incident the platform recorded on Arbitrum in 2023.
A series of exit scams have emerged on Arbitrum as well as the wider Ethereum La
We współpracy z: https://cryptopotato.com/arbitrum-based-defi-project-chibi-finance-rug-pulled-over-1-million-drained/
