Pseudonymous blockchain investigator ZachXBT issued a warning about a group of scammers attempting to entrap more victims in a new fraud using millions of stolen funds.the findings of an investigation over Leaper Finance, a lending protocol based on Blast. According to the analysis, the group is behind several rug pulls, including those that hit users of
The group is also believed to be responsible for scams on Hash DAO, Glori Finance, and ZebraDAO. Losses attributed to the group are estimated at over $20 million.A rug pull takes place when the developers of a blockchain-based protocol suddenly withdraw all of their funds from a liquidity pool or project wallet, essentially draining the funds invested by others. This usually happens without any warning, leaving investors with worthless tokens or assets.