Crypto News – The Risk on Blast project inside the ecosystem has experienced a major blow to its value, resulting in a loss of about 500 ETH, according to a recent event in the cryptocurrency world.
Blast Rug Pull Allegation: Risk on Blast Project Suffered 500 ETH Loss
With the announcement of the Blast rug pull by Crypto KOL CBB0FE, the news broke. Wu Blockchain also expressed suspicion of rug pull at the same time, saying that the project’s website and X account are no longer open.
This is the first time that a “blast rug pull” has happened in the layer 2 ecosystem, and it has left many users devastated. The majority of the event affected Risk on Blast, which is located within this ecosystem, which caused a great deal of alarm among cryptocurrency fans.
Blast is the Target of Criticism
Blast is a new layer 2 blockchain that runs on Ethereum. It has gained interest due to its staking program and native yield offerings. Blast, led by Pacman, co-founder of Blur, an Ethereum-based NFT marketplace, and backed by well-known investment firm Paradigm, sought to transform transaction throughput and cost effectiveness with its innovative rollup technology.
The latest rug pull has raised questions about Blast’s dependability and security protocols, despite the company’s claims of faster transactions and lower rates. The episode involving the rug pull, however, highlights weaknesses in the ecosystem and draws criticism from the cryptocurrency community.
Leave a comment