In the fast-paced world of cryptocurrencies, the potential for fraudulent activities is ever-present. In the past 24 hours, multiple incidents have come to light, raising concerns among investors and highlighting the need for increased vigilance. In this investigative alert, we will delve into two significant rugpulls, a case of fund laundering, and a warning about a fake airdrop circulating on social media. Let’s dive into the details and unravel these events.
Rugpull at SwirlLend:
SwirlLend, a popular DeFi platform, became the victim of a devastating rugpull. The Total Value Locked (TVL) at SwirlLend plummeted from $784.3K to a mere $49.2K within a short period, leaving investors in shock. To make matters worse, all traces of the project’s social platforms have been swiftly deleted. The deployer bridged approximately $289.5K worth of cryptocurrencies, including 140.68 ETH and 32.6K USDC, from Base to Ethereum.
Continued Fraudulent Actions:
The scammer’s activities did not cease with the SwirlLend rugpull. In a shocking turn of events, SwirlLend also suffered a rugpull on its Linea platform. The perpetrator promptly transferred around 94 ETH from Linea to Ethereum via Orbiter Finance: Bridge. Currently, the scammer holds 165.6 ETH and 32,641 USDC in their Ethereum address, with plans to transfer the stolen funds from Base to Ethereum.
Laundering Stolen Funds:
In an attempt to obfuscate their tracks, the SwirlLend scammers leveraged Tornado Cash to launder 253.2 ETH (approximately $462.6K) obtained from their fraudulent activities. Tornado Cash provides a mixing service that aims to make transactions untraceable.
Beware of Fake PepeCoin Airdrop:
Crypto enthusiasts should exercise caution when encountering a supposed PepeCoin airdrop being promoted on social media. The hxxps://pepecoin-claim.online/ website, associated with this campaign, is now confirmed to connect to a known wallet drainer. Engaging with this platform may result in the loss of funds or personal information.
Manipulation with Fake CIRCLE Token:
Devious tactics were employed by an unknown entity using a fake CIRCLE token. The identity of the deployer remains unidentified, but the attacker siphoned off 900 BNB (approximately $216.3K) from an unsuspecting victim through a honeypot scheme. Out of this total, 400 BNB was moved via Tornado Cash, while the remaining 400 BNB was further deposited into the mixer. This manipulation further emphasizes the importance of due diligence and thorough research within the crypto space.
The recent wave of hacking incidents serves as a stark reminder of the risks associated with investing in cryptocurrencies. It is crucial for users to remain cautious and exercise due diligence when navigating the crypto landscape. Stay updated and informed about potential scams, rugpulls, and fraudulent activities. By doing so, we hope to promote a safer and more secure environment for all participants in the crypto market.
Disclaimer: The information provided in this blog post is based on the available data at the time of writing. It is essential to conduct thorough individual research and due diligence before making any financial decisions.