SolPAD Latest IDO, Luna Yield May Have Exit Fraud Of $ 6.7 million

SolPAD, a platform that IDO gives for Solana, has simply introduced that Luna Yield has shut down its total web site and social media accounts like Twitter, Telegram, elevating nice doubts that the undertaking has been deserted and deserted.

The time period rug pull roughly refers back to the new trickery of organising a entice to draw fry. These methods usually end in builders leaving the undertaking abruptly and stealing buyers’ cash.

Luna Yield is suspected of pulling carpets for greater than $ 6.7 million

The SolPAD group introduced that they haven’t but been capable of contact the Luna Yield group to search out out what occurred.

“We’re making an attempt to determine how we will help customers and we’re contacting a number of third events to research the issue. Please be affected person and provides us all details about Luna Yield. Thank you to your cooperation “.

Luna Yield not solely deleted the whole social community account, but additionally drained all the undertaking’s liquidity. According to the preliminary investigation, the loss was greater than $ 6.7 million, together with a number of tokens reminiscent of SOL, LUNY, USDC, RAY, ETH, USDT and YFI. Although there’s nonetheless no official affirmation, the transfer will mark the primary carpet transfer for Solana and depart the platform an unjustified status.

On SolPAD’s Telegram channel, the group mentioned they’re gathering proof that Luna’s actions this time round might have a unfavorable influence on buyers and their neighborhood. Additionally, SolPAD is working onerous to reassure customers to supply proof to all events concerned, particularly massive centralized exchanges, to allow them to watch out to keep away from Luna laundering. In addition, SolPAD additionally confirmed that the group has no relationship with Luna Yield.


Announcement of SolPAD

“We only hold IDOs for projects that have submitted legitimate applications. SolPAD is not responsible or liable for the activities of projects that are offered for sale on SolPAD, ”the announcement states.


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