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$600k Worth of BNB Stolen By BTC Peers

by Mike Robinson

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NFT Swapping Platform MetaSwap Allowedly Rug Pulled: $600k worth of BNB Stolen

In the cryptocurrency world, the evil activities have not stopped into December. MetaSwap is being investigated for the heinous acts. An earlier report claimed that Meta Swap supported by a team swapped Binance, Polygon, and stole 1,100 BNB. The native token disappeared not long afterwards.

A soft rug pull was recommended by PeckShield as a solution to the MetaSwap group’s suspected malicious act. It is the abandonment of a project, which is done by selling large amounts of their tokens for money.

Related: Justin Kan’s Fractal Marketplace Hits by Discord Breach

The company also claimed that 1,100 BNB was stolen and that it is approximately worth $605,000. This information was then sent to TornadoCash which is an Ethereum-based tool. The device was designed to block the transaction link between recipient address and destination address that takes place on the blockchain. PeckShield also asserted that the native token of MetaSwap – MGAS – had tanked by closely 50%.

Related: In a Phishing Attack, $1.3 Million is Lost by the Monkey Kingdom NFT Project, Hong Kong

PeckShield claims are not yet proven, but it has been reported that MetaSwap’s team attempted to delete all social media channels related to the protocol. This led to suspicions.

It is likely that December will see many malicious activities in digital assets, specifically DeFi. In the previous week, it was reported that a project of DeFi – Grim Finance was manoeuvred of roughly $30 million worth of Fantom (FTM).

AscendEx was also hacked, leading to losses of $80 millions. A few days later, Bitmart suffered another attack. The hackers stole 200 million dollars in various digital assets.

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