Yet another stablecoin project @Neutrl suspected of running away with funds.

Neutrl’s official X post says there’s an issue with the protocol reserves; all protocol functions, including minting and redemptions, have currently been paused.

Its third-party reserve verification provider, Accountable, has not yet provided an explanation, and the website has not taken down the public disclosure for Neutrl protocol reserves.

As of now, Defillama data shows that the market cap of the Neutral stablecoin, NUSD, is $53.3 million.

The X comments section has been closed, and Discord has simply deleted the chat channel. Another lesson learned from an Indian founder’s project.

#StablecoinNews #Rugpull