According to ZachXBT, a prominent on-chain investigator, a group recently shifted around $1 million in illicit funds to the Base platform, intending to support a new scam. The alleged scammers then converted these assets into wrapped Ether (wETH) and used bridging services like Orbiter and Bungee to transfer them across multiple blockchain networks.<\/p>\n
Through this process, the funds ended up in the Blast network, where they purportedly provided funding to an address potentially associated with Leaper Finance, a decentralized over-collateralized lending protocol. This series of transactions, described by ZachXBT as a sudden increase in liquidity designed to lure unsuspecting individuals, points to the group’s involvement in another Base project called ZebraLending, which currently has a total value locked (TVL) of approximately $311,000.<\/p>\n
The investigator alleges that this group has a history of launching projects that attract significant TVL before vanishing with the funds. ZachXBT further claims that these scammers often fabricate know-your-customer (KYC) documents and collaborate with questionable security auditing firms to create a facade of legitimacy.<\/p>\n
Furthermore, it is alleged that the group typically grows their projects’ worth to seven-figure sums before executing a rug pull, absconding with investors’ funds. In the recent Magnate Finance incident, the group purportedly made off with over $6.5 million shortly after ZachXBT and other security experts alerted the public about the project.<\/p>\n
Additionally, the Blast network, introduced by Blur founder Tieshun Roquerre, has recently experienced multiple scams, exploits, and rug pulls. The team officially acknowledged an exploit of $4.6 million due to a smart contract bug, confirmed by on-chain security firm CertiK.<\/p>\n
According to the Super Sushi team, the exploiter manipulated the game\u2019s smart contract to double token balances and flood its liquidity pool. In a separate event, Munchables, an NFT game on the Blast network, fell victim to a $62 million exploit.<\/p>\n
The project acknowledged the breach and announced efforts to trace the exploiter’s actions and prevent the transactions from proceeding.<\/p>\n","protected":false},"excerpt":{"rendered":"
According to ZachXBT, a prominent on-chain investigator, a group recently shifted around $1 million in illicit funds to the Base platform, intending to support a […]<\/p>\n","protected":false},"author":1,"featured_media":543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[191],"tags":[],"class_list":["post-544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-scams-on-base-platform"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/posts\/544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/comments?post=544"}],"version-history":[{"count":0,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/posts\/544\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/media\/543"}],"wp:attachment":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/media?parent=544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/categories?post=544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/tags?post=544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}