Mustafa has been writing about Blockchain and crypto since a few years. He has earlier buying and selling expertise and has been working within the Fintech business since 2017.
SwirlLend, an Ethereum Layer 2 lending protocol, has reportedly exited scammed with person deposits price round $460,000 taken from Base and Linea networks. The exit rip-off was found after PeckShield’s on-chain evaluation confirmed that the protocol’s good contract seemed to be empty, with all person deposits gone. SwirlLend had attracted a big quantity of deposits since its launch in June 2021, promising excessive returns and low charges. The incident highlights the dangers concerned in utilizing decentralized finance protocols and serves as a reminder for customers to train warning and do their very own analysis.
