As experts link, Metaswap Gas is incommunicado. MGAS's price has dropped to the level of a rug pull.


Metaswap Gas' social media pages were erased after the surprise MGAS price decrease, confirming PeckShield's claim of a rug pull.

PeckShield, a blockchain security firm, has warned investors about a possible rug pull after noticing a large 46.99 percent price decline on MetaSwap's MGAS token. Nonfungible token (NFT) swaps are possible on the Ethereum, Binance, and Polygon blockchains via the MetaSwap protocol.

Following the unexpected price drop, all official accounts linked with Metaswap Gas — including Twitter, Instagram and Medium — were removed, supporting PeckShield’s claim of a rug pull.

According to PeckShield, 1,100 Binance Coin (BNB) tokens, worth almost $602,000, were transferred to an account on Tornado Cash, an Ethereum-based non-custodial solution that is used to break the on-chain link between the sender and the receiver. This process adds to the difficulty in tracking the stolen funds.

Details of the MetaSwap transfer. Source: PeckShield.
To avoid further financial losses, PeckShield urges investors to stop staking Metaswap Gas and terminate current contracts.

Several crypto companies were victims of a series of exploits in December alone, resulting in a total loss of nearly $600 million. After confirming a pool exploit on Dec. 21, Bent Finance aggressively encouraged investors to remove their funds.

Bent Finance, like previous victims of the crypto community such as Grim Finance, BitMart, and AscendEX, committed to restore all stolen cash to its investors. The squad has yet to announce a strategy for this:
“We recommend you withdraw from the protocol until further notice. We are not going anywhere and will recover from this one way or another.”
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