{"id":11028,"date":"2024-02-26T12:44:52","date_gmt":"2024-02-26T10:44:52","guid":{"rendered":"https:\/\/forklog.com\/en\/developers-of-riskonblast-execute-1-25-million-rug-pull-in-blast-network\/"},"modified":"2024-02-26T12:44:52","modified_gmt":"2024-02-26T10:44:52","slug":"developers-of-riskonblast-execute-1-25-million-rug-pull-in-blast-network","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/developers-of-riskonblast-execute-1-25-million-rug-pull-in-blast-network\/","title":{"rendered":"Developers of RiskOnBlast Execute $1.25 Million Rug Pull in Blast Network"},"content":{"rendered":"<p>On February 25th, developers of RiskOnBlast, a gaming platform on the L2 Blast network, withdrew 420 ETH belonging to users, amounting to approximately $1.25 million, and subsequently disabled the website and social media accounts.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1.<a href=\"https:\/\/twitter.com\/RiskOnBlast?ref_src=twsrc%5Etfw\">@Riskonblast<\/a> rugged 420 ETH worth $1.25 million from 750+ victims.<br \/>Scammers lent $497k through <a href=\"https:\/\/twitter.com\/ChangeNOW_io?ref_src=twsrc%5Etfw\">@ChangeNOW_io<\/a> , $360k through <a href=\"https:\/\/twitter.com\/MEXC_Official?ref_src=twsrc%5Etfw\">@MEXC_Official<\/a> and $187k through <a href=\"https:\/\/twitter.com\/Bybit_Official?ref_src=twsrc%5Etfw\">@Bybit_Official<\/a> exchange <br \/>contract on L1<br \/>0x25f8C342E430C85829Ef5021C0720f0c60969840. ? <a href=\"https:\/\/t.co\/XK2w2gTo8X\">pic.twitter.com\/XK2w2gTo8X<\/a><\/p>\n<p>\u2014 SomaXBT (@somaxbt) <a href=\"https:\/\/twitter.com\/somaxbt\/status\/1761693406714081290?ref_src=twsrc%5Etfw\">February 25, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\u00a0<\/p>\n<p>According to on-chain researcher SomaXBT, the <span data-descr=\"a practice of inflating the value of a created token in a liquidity pool followed by a sharp withdrawal of funds; subsequently, other pool participants are left with devalued assets\" class=\"old_tooltip\">rug pull<\/span> affected over 750 victims. The stolen funds were transferred to the MEXC, Bybit, and ChangeNOW exchanges.<\/p>\n<p>RiskOnBlast was marketed as a cryptocurrency gambling platform. Previously, the project raised over $1 million from investors in a seed round and was one of the participants in the <a href=\"https:\/\/forklog.com\/en\/news\/blast-l2-protocol-launches-testnet-and-developer-competition\">Big Bang funding competition by Blast<\/a>.<\/p>\n<p>On February 13th, representatives of the L2 solution posted on X, claiming the &#8220;undeniable potential&#8221; of the scam protocol.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/qxvjNBtoHqmQcW5U1A8XVJNjQYYJwxA80ROYwU4Qo3PlhrtvsFkE-S77D7ASV4liuvAXvrvx4cd77DrD_70Hb4di3zn15BYGB3hRg-cNDchvp2EGTCNuExmrBIsIW9JA8DMqMFUaM0HOgnEeyYdAot0\" alt=\"Developers of RiskOnBlast Execute $1.25 Million Rug Pull in Blast Network\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/twitter.com\/Blast_L2\/status\/1757404298319888587\">X<\/a>.\u00a0\u00a0<\/figcaption><\/figure>\n<p>One user <a href=\"https:\/\/twitter.com\/mooncat2878\/status\/1761542439595036907\">claimed<\/a> to have lost over $12,500. Some community members criticized Blast for negligence and lack of security checks.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Influencers and funds being so greedy about <a href=\"https:\/\/twitter.com\/Blast_L2?ref_src=twsrc%5Etfw\">@Blast_L2<\/a> ecosystem that they are backing undoxxed founders with no track record in the industry.<a href=\"https:\/\/twitter.com\/RiskOnBlast?ref_src=twsrc%5Etfw\">@riskonblast<\/a> just rugged 500 ETH. Maybe next time perform some decent DD before putting your names as backers.<\/p>\n<p>\u2014 CBB0FE (@Cbb0fe) <a href=\"https:\/\/twitter.com\/Cbb0fe\/status\/1761545624116175041?ref_src=twsrc%5Etfw\">February 25, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Influencers and funds are so greedy about the Blast ecosystem that they support unregistered founders with no industry experience,&#8221; noted a user.<\/p>\n<\/blockquote>\n<p>Launched on November 22, 2023, Blast is a second-layer network based on Ethereum, offering a passive income of 4-5% annually. The mainnet launch is <a href=\"https:\/\/blastpublic.notion.site\/Big-Bang-Winners-1f0a437a78794c34a74352b1b1351c86\">scheduled<\/a> for February 26.<\/p>\n<p>Back in December, before the launch of Sleepless AI farming on Binance&#8217;s Launchpool platform, unknown individuals conducted a rug pull of the token with the same name.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On February 25th, developers of RiskOnBlast, a gaming platform on the L2 Blast network, withdrew 420 ETH belonging to users, amounting to approximately $1.25 million, and subsequently disabled the website and social media accounts. 1.@Riskonblast rugged 420 ETH worth $1.25 million from 750+ victims.Scammers lent $497k through @ChangeNOW_io , $360k through @MEXC_Official and $187k through [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11027,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1270,44,1246],"class_list":["post-11028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blast","tag-cybercrime","tag-scammers"],"aioseo_notices":[],"amp_enabled":true,"views":"46","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=11028"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11028\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/11027"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=11028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=11028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=11028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}