Chibi Finance Exit Scam: $1 Million Cryptocurrency Heist Rocks Defi Platform on Arbitrum – Defi Bitcoin News

Bitcoin.com
Bitcoin.com

27 Jun 2023 10:00 PM

According to reports, Chibi Finance, the defi platform built on top of Arbitrum, allegedly executed an exit scam on its users....

  • Chibi Finance, a decentralized finance platform built on top of Arbitrum, allegedly executed an exit scam on its users.
  • Blockchain intelligence firm Peckshield reported that approximately $1 million worth of cryptocurrency assets were illicitly withdrawn and converted into Ethereum.
  • All traces of Chibi Finance, including the website, social media accounts, and Medium account, have been completely removed from the internet.
  • Chibi Finance marked the 12th exit scam recorded on Arbitrum this year, according to smart contract auditing firm Certik.
  • CHIBI, the project's native token, has plummeted from $1.35 to 0.0095 per unit.

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What is Chibi Finance?How much cryptocurrency assets were illicitly withdrawn from Chibi Finance?What happened to CHIBI, the project's native token, after the exit scam?How many exit scams have been recorded on Arbitrum this year, according to Certik?What is the role of Peckshield in this incident?

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