Alert on Possible Exit Scam
If you’re a user of Lendora Protocol, you need to be aware of a possible exit scam. On Nov. 14, ZachXBT, a previous rug pull survivor and anonymous blockchain sleuth, shared an alert about this decentralized lending platform on Scroll. The warning urges you to withdraw your assets from the protocol immediately.
A Closer Look at Lendora
An investigation into Lendora revealed that approximately $83,000 received by the Lendora Team multisig is connected to the Kokomo exit scam, casting doubt on the project’s legitimacy. Additionally, other users of the Lendora Protocol have links to both the Kokomo and Bass Exchange exit scams. The security firm Vital Block, responsible for various scams including Solfire, Hash DAO, Kokomo, and Snowflake, has accumulated over $16.2 million from these illicit activities.
Website Shutdown and Other Scams
The website involved in the alleged scam has been taken offline, with all related contracts paused. Sadly, this is not the only exit scam on the crypto community’s radar. A report by CertiK disclosed that over $32.2 million in user funds were lost in October due to vulnerabilities, exit scams, and flash loan manipulations.
Hot Take: Protect Yourself from Potential Scams
It’s essential to stay vigilant and do thorough research before investing in any crypto project. With exit scams and fraudulent activities on the rise, protecting your assets should be a top priority. Always be cautious and verify the legitimacy of any platform or project before getting involved.
Noah Rypton stands as an enigmatic fusion of crypto analyst, relentless researcher, and editorial virtuoso, illuminating the uncharted corridors of cryptocurrency. His odyssey through the crypto realms reveals intricate tapestries of digital assets, resonating harmoniously with seekers of all stripes. Noah’s ability to unfurl the labyrinthine nuances of crypto intricacies is elegantly interwoven with his editorial finesse, transmuting complexity into an engaging symphony of comprehension.