Just an hour after popular crypto on-chain sleuth, ZachXBT, alerted the community of a potential scam masquerading as a legitimate lending protocol called Magnate Finance on the Base blockchain, the platform pulled the rug on its users.
Magnate’s deployer address was found to have links to two DeFi projects that turned out to be exit scams.
The post Lending Protocol on Coinbase’s Base Pulls the Rug on Users: Report appeared first on CryptoPotato.
Just an hour after popular crypto on-chain sleuth, ZachXBT, alerted the community of a potential scam masquerading as a legitimate lending protocol called Magnate Finance on the Base blockchain, the platform pulled the rug on its users.
Magnate’s deployer address was found to have links to two DeFi projects that turned out to be exit scams.
The post Lending Protocol on Coinbase’s Base Pulls the Rug on Users: Report appeared first on CryptoPotato.