Defrost Finance breaks silence on ‘exit scam’ accusations, denies rug pull

Defrost Finance, the decentralized trading platform that suffered a $12 million exploit leading up to Christmas, has denied allegations that it had “rugged” its users as part of an elaborate “exit scam.” On Dec. 23, the platform announced it suffered a flash loan attack, leading to the draining of user funds from its V2 protocol. […]

350 new ‘scam tokens’ were created every day this year: Solidus Labs

More than 350 fraudulent cryptocurrency tokens were created per day this year, defrauding millions of investors, according to blockchain risk monitoring firm Solidus Labs. From the start of the year to Dec. 1, 117,629 “scam tokens” were deployed, according to Solidus’ 2022 “Rug Pull Report.” That’s a 41% increase from the nearly 83,400 scam tokens […]

Crypto scammers are using black market identities to avoid detection: CertiK

Crypto scammers have been accessing a “cheap and easy” black market of individuals willing to put their name and face on fraudulent projects — all for the low price of $8, blockchain security firm CertiK has uncovered.  These individuals, described by CertiK as “Professional KYC actors” would, in some cases, voluntarily become the verified face […]

Web3 sees 15 new scam smart contracts an hour: Solidus Labs

The Web3 and cryptocurrency space is seeing a significant amount of smart contract scams proliferating, with blockchain risk monitoring firm Solidus Labs saying it has detected on average 15 newly deployed scams every hour. Solidus Labs said on Oct. 27 that it had been monitoring 12 blockchains including Ethereum (ETH), Polygon (MATIC), and BNB Chain […]

Mango Market exploiter brags after rug pulling Mango Inu ‘shitcoin’

In just over a week after pulling off the $117 million exploit of Mango Markets, Avraham Eisenberg is now boasting about making $100,000 rug-pulling a “shitcoin” called Mango Inu, again claiming he “did nothing wrong.”  Eisenberg recently ousted himself as one of the persons behind the recent $117 million exploit of the Solana-based decentralized finance […]

Nifty News: David Beckham’s DigitalBits, CoinSpot’s NFT marketplace, and more

Iconic former English Premier League footballer, David Beckham, has become a global brand ambassador for the DigitalBits blockchain, launching his own range of NFTs in the process. Beckham will release a series of NFTs and “other Blockchain-based digital assets” according to the brand ambassador announcement, with minting taking place on the DigitalBits blockchain. Excited to […]

Youtuber and alleged thief publicly refuses to return investors' funds after $750k rug pull

On Wednesday, American Youtuber and “internet detective” Coffeezillaa published a recorded interview of himself and disgraced Youtuber Paul “Ice Poseidon” Denino. During the session, Denino allegedly confirmed that he made off with $750k worth of his investors’ money through rug pulling a crypto project dubbed “Cxcoin.” The ordeal started last July, when Denino created the […]