Arbitrum-based decentralized exchange (DEX) Swaprum has allegedly conducted a rug-pull on its users, with $3 million worth of customer deposits being swiped from the platform.
A rug-pull or exit scam occurs when a seemingly legitimate project ropes in a certain amount of investment or user deposits before promptly shutting everything down, pulling the capital and vanishing off into the distance — if they don’t adequately cover their tracks, of course.
According to May 19 tweet from the alerts-focused account of blockchain security firm Peck Shield, the bad actors swiped 1,628 Ether (ETH) — worth roughly $2.95 million at current prices — from Swaprum’s liquidity pools, bridged it to Ethereum, and then “laundered” almost all of those funds through crypto mixer Tornado Cash.
#PeckShieldAler #rugpull @Swaprum on #Arbitrum rugged ~$3M, $SAPR has dropped -100%. @Swaprum already deleted its social accounts/groups.
The scammers have bridged ~1,628 $ETH to #Ethereum and laundered 1,620 $ETH to Tornado Cashhttps://t.co/tUNgbwGQCd pic.twitter.com/UH8V9RyFHy— PeckShieldAlert (@PeckShieldAlert) May 19, 2023
Following the incident, Swaprum’s Twitter, Telegram and Github accounts have all been deleted, however Swaprum’s website is still…
