The Chibi Finance team held a rug pull for $1 million


The developers of the DeFi project Chibi Finance on the Arbitrum network were suspected of carrying out a rug pull. User-owned 555 ETH (~$1 million) has been withdrawn from the platform’s liquidity pools, according to PeckShield.

Experts found that the attackers sent funds to Tornado Cash.

Representatives of the team closed the project’s website, as well as its Twitter and Telegram accounts.

According to DEX Screener, the price of CHIBI dropped to $0.018. During the day, the asset lost 98.7% of its value.

Some members of the crypto community criticized the DeFi_Mochi user for the project’s shilling.

Recall that in May, the DEX Swaprum team was suspected of a $3 million exit scam.

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