2023's 'Largest Exit Scam' on Arbitrum Unfolds, $2M Stolen
Arbitrum has gradually started making noise again within the crypto ecosystem. The on-chain metrics of the Ethereum scaling solution have been refined by leaps and bounds of late. Right from the number of daily transactions to the volumes settled on the chain, Arbitrum ’s numbers have been hovering around their peak lately. Leaving aside the positive strides made on the aforementioned fronts, it is worth noting that an algorithmic stablecoin project based on Arbitrum was hacked on Tuesday. The official Twitter handle of the project alleged that a Nigerian national had carried out the scam and asserted that he “claimed everything” from the Genesis Protocol. he claimed everything from the genesis protocol — Hope Finance (💙,🧡) (@Hope_fin) February 20, 2023 Also Read – Fact Check: Has ChatGPT Released Its Native Cryptocurrency Token? Crypto security firm CertiK alerted the community by tweeting about the ~$2 million scam. It was ...