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Home » $6.4 Million Lost In Latest Base-Native DeFi Protocol Rug Pull – NewsBTC

$6.4 Million Lost In Latest Base-Native DeFi Protocol Rug Pull – NewsBTC

$6.4 Million Lost In Latest Base-Native DeFi Protocol Rug Pull – NewsBTC

​Magnate Finance, a DeFi lending protocol on the Ethereum layer-2 network Base, is reported to have conducted a rug pull, robbing its users of $6.4 million worth of assets. This event represents the latest troubling incident on the Base network in merely a month of its official mainnet launch.Related Reading: BALD Deployer Moves Proceeds Of The Rug From Base To Ethereum3 Rug Pulls, $16.7 Million Lost – Who’s Responsible? On Friday, August 25, blockchain security intelligence Peckshield confirmed Magnate Finance’s rug pull, stating that the project developers manipulated the provider of the price oracle, allowing them to withdraw all assets of the…  

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