Blur Finance allegedly rug pulled, investors at a combined $600K loss

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Yield aggre­ga­tor plat­form Blur Finance has alleged­ly been rug pulled as over $600,000 worth of tokens was with­drawn with­in minutes.

Secu­ri­ty firm Peck­Shield tweet­ed on August 10 that Blur Finance devel­op­ers have tak­en out over $600,000 from its Poly­gon and BNB Chain contracts.

The BLR token was trad­ing at $0.00064 as of press time — down 99% from its peak of $0.06 only about 24 hours ago.

Blur Finance launched on BNB Chain on July 7 and had gained 733 hold­ers before the rug pull. At the moment, all its social media chan­nels have been deleted.

Same model for recent rug pulls

Two days ago, Peck­Shield flagged an alleged rug pull of over $1 mil­lion by Drago­ma devel­op­ers. $420,000 USDT and 880,000 MATIC report­ed­ly van­ished from the poly­gon contract.

Sim­i­lar­ly, on July 25, Ted­dy Doge devel­op­ers made away with $4.5 mil­lion in a soft rug pull. Accord­ing to the report, 30 bil­lion TEDDY tokens were swapped for BNB and BUSD and then cashed out through the Binance exchange.

In each instance of the rug pull, the project devel­op­ers would mar­ket aggres­sive­ly and offer high return promis­es. Investors who take the bait are often left with unex­pect­ed losses.



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