According to Cointelegraph: Blockchain investigator ZachXBT has exposed a slick maneuver by scammers using stolen funds to provide liquidity for fake cryptocurrency projects. Shortly after his revelations went public, three of the implicated projects disappeared from the digital space, deleting their respective websites and social media accounts.
The crypto projects, which include Leaper Finance on Blast, Zebra DAO on Base, and Glori Finance on Arbitrum, were found to be funded by a wallet previously involved in a rug pull scam. This wallet was reported to be channeling liquidity funds to multiple projects across different blockchain platforms such as Base, Solana, Scroll, Optimism, Arbitrum, Ethereum, and Avalanche.
On a separate note, Base, an Ethereum layer-2 protocol, has reported an 18-fold increase in stolen funds as a result of phishing scams over the span of three months. Anti-scam platform Scam Sniffer revealed that phishers had netted around $3.35 million in stolen cryptocurrencies on Base in March alone. As Base's total value locked rises to over $3.2 billion, due to user influx and memecoin popularity, experts predict potential surge in phishing attacks.
