{"id":14189,"date":"2024-06-09T13:35:59","date_gmt":"2024-06-09T10:35:59","guid":{"rendered":"https:\/\/forklog.com\/en\/gemholic-accused-of-3-4-million-rug-pull-in-zksync-ecosystem\/"},"modified":"2024-06-09T13:35:59","modified_gmt":"2024-06-09T10:35:59","slug":"gemholic-accused-of-3-4-million-rug-pull-in-zksync-ecosystem","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/gemholic-accused-of-3-4-million-rug-pull-in-zksync-ecosystem\/","title":{"rendered":"Gemholic Accused of $3.4 Million Rug Pull in zkSync Ecosystem"},"content":{"rendered":"<p>The team behind the Gemholic project has been accused of disappearing with 921 ETH (approximately $3.4 million at the time of writing), according to <a href=\"https:\/\/www.theblock.co\/post\/299161\/gemholic-accused-of-rug-pull-after-moving-3-3-million-in-recently-recovered-funds-vanishing-from-social-media\">The Block<\/a>.<\/p>\n<p>The publication reports that the <span data-descr=\"a sudden withdrawal by developers from a project, selling or removing all its liquidity\" class=\"old_tooltip\">rug pull<\/span> occurred after Gemholic recovered 921 ETH, which had been accidentally <a href=\"https:\/\/www.theblock.co\/post\/225364\/zksync-unfreeze-millions-stuck\" title=\"\">locked<\/a> in a smart contract on the zkSync network in April 2023.<\/p>\n<p>Initially, Gemholic representatives promised to continue developing the project after the funds were returned. However, once the assets were unlocked in June 2024, they were <a href=\"https:\/\/era.zksync.network\/address\/0xe1e5d4ff2aa2550f2bdf7ff17bb01ff7621049ae#internaltx\">transferred<\/a> to the Ethereum network, and the project&#8217;s social media accounts were deleted.<\/p>\n<p>The founder of the zkMarkets platform, known by the pseudonym NSerec, confirmed the accusations of a Gemholic rug pull.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Today, $3.5 million was stolen by Gemholic, who for an entire year falsely promised refunds to its investors, only to execute a rug pull after the funds were finaly unlocked. The team has supposedly completed a KYC verification by <a href=\"https:\/\/twitter.com\/SolidProof_io?ref_src=twsrc%5Etfw\">@SolidProof_io<\/a>, which has yet to address the\u2026<\/p>\n<p>\u2014 0xMorgosh (@NSerec) <a href=\"https:\/\/twitter.com\/NSerec\/status\/1799150698816266596?ref_src=twsrc%5Etfw\">June 7, 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\"><p>\n<cite>\u00abThe team has supposedly passed a <span data-descr=\"know your customer\" class=\"old_tooltip\">KYC<\/span> verification by SolidProof, which has yet to comment publicly on the situation, even though every minute counts. This silence is likely an attempt to avoid <span data-descr=\"fear, uncertainty, doubt\" class=\"old_tooltip\">FUD<\/span>. The KYC provider must either admit its incompetence in conducting thorough checks or report the fraudsters to the authorities and make a public statement,\u00bb he wrote.<\/cite><\/p><\/blockquote>\n<p>NSerec urged those affected by the incident to hold SolidProof accountable if the provider does not resolve the issue.<\/p>\n<p>Previously, the team behind the URF meme coin <a href=\"https:\/\/forklog.com\/en\/news\/urf-meme-token-developers-execute-450000-rug-pull\">disappeared<\/a> with 2400 SOL (~$450,000) raised during the token&#8217;s pre-sale. According to a Blockaid report, about 50% of pre-sales in the Solana network were <a href=\"https:\/\/forklog.com\/en\/news\/half-of-solana-pre-sales-deemed-fraudulent\">found to be fraudulent<\/a>.<\/p>\n<p>In April, developers of the blockchain casino ZKasino <a href=\"https:\/\/forklog.com\/en\/news\/zkasino-accused-of-misappropriating-33-million-in-user-funds\">sent 10,515 ETH worth $33.9 million<\/a> to the Lido staking protocol instead of returning these funds to users and investors.<\/p>\n<p>In the same month, Dutch authorities <a href=\"https:\/\/forklog.com\/en\/news\/dutch-authorities-arrest-suspect-in-zkasino-fraud-case\">arrested<\/a> a suspect involved in the project&#8217;s scam. At the end of May, ZKasino <a href=\"https:\/\/forklog.com\/en\/news\/zkasino-initiates-eth-recovery-process\">initiated<\/a> the process of recovering the stolen ETH.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The team behind the Gemholic project has been accused of disappearing with 921 ETH (approximately $3.4 million at the time of writing), according to The Block. The publication reports that the rug pull occurred after Gemholic recovered 921 ETH, which had been accidentally locked in a smart contract on the zkSync network in April 2023. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14188,"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":[44,1518],"class_list":["post-14189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cybercrime","tag-zksync"],"aioseo_notices":[],"amp_enabled":true,"views":"86","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14189","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=14189"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14189\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/14188"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=14189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=14189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=14189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}