{"id":17945,"date":"2024-04-15T15:30:56","date_gmt":"2024-04-15T15:30:56","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=17945"},"modified":"2024-04-15T13:54:34","modified_gmt":"2024-04-15T13:54:34","slug":"crypto-currency-scam","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/crypto-currency-scam\/","title":{"rendered":"Cryptocurrency Scam Alert: Millions Lost in Series of Rug Pulls"},"content":{"rendered":"<p>Cryptocurrency Scam Alert: Millions Lost in Series of Rug Pulls!! In the world of decentralized finance, a shady group has pulled off several rug pulls, causing losses of over $20 million. <a href=\"https:\/\/twitter.com\/zachxbt\/status\/1779333168383791411\">ZachXBT<\/a>, a Cryptocurrency blockchain investigator, uncovered their schemes, which targeted platforms like Kokomo, Magnate, and Solfire, resulting in huge losses for users. They even breached KYC documents, adding to the damage. The scams spread across various blockchains, hitting BASE, Solana, and Ethereum.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/crypto-currency-scam\/#The_Evolution_of_Deception\" title=\"The Evolution of Deception\">The Evolution of Deception<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/crypto-currency-scam\/#Taking_on_the_Challenge\" title=\"Taking on the Challenge\">Taking on the Challenge<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"The_Evolution_of_Deception\"><\/span>The Evolution of Deception<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The group kept evolving, targeting platforms like Hash <a href=\"https:\/\/coinengineer.net\/blog\/airdao-builder-meeting\/\">DAO<\/a> and ZebraDAO. Victims were left with nothing as their investments disappeared. Their latest project, Saltrify Finance, received about $1 million from previous scams, aiming to trap more victims.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Taking_on_the_Challenge\"><\/span>Taking on the Challenge<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite the risks, defenders like ZachXBT confronted these scams head-on. Threats didn\u2019t deter them. While shutting down Leaper Finance and Glori Finance accounts was a win, the crypto community still faces challenges. Over $200 million was lost in the first two months of 2024 across 32 incidents.<\/p>\n<hr \/>\n<div id=\"section-0\" class=\"space-y-8\" data-component=\"blog\/section-title-description\">\n<div class=\"prose\">\n<p data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>,\u00a0<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube,<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a> channels for the latest news and updates.<\/em><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency Scam Alert: Millions Lost in Series of Rug Pulls!! In the world of decentralized finance, a shady group has pulled off several rug pulls, causing losses of over $20 million. ZachXBT, a Cryptocurrency blockchain investigator, uncovered their schemes, which targeted platforms like Kokomo, Magnate, and Solfire, resulting in huge losses for users. They even<\/p>\n","protected":false},"author":6,"featured_media":17946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[2169,357,5439,5440,2415,5438],"class_list":["post-17945","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-crypto-scam","tag-kyc","tag-leaper-finance","tag-saltrify-finance","tag-zachxbt","tag-zebradao"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cryptocurrency Scam Alert: Millions Lost in Series of Rug Pulls - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Beware! 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