On April 9, 2024, the XBL token mining app on the Arbitrum chain, @xblast_app, was hacked, losing approximately 23 ETH (worth ~$84.5K), causing $XBL to drop -98%. The exploiter transferred XBL tokens by exploiting the project's main wallet. This event is part of a troubling trend within the cryptocurrency ecosystem, including the first confirmed exit scam of the GambleFi project RiskOnBlast in February, which raised 420 ETH (~$1.3m) during their IDO before disappearing, with funds being laundered. Additionally, a fake version of Truflation (TRUF) on Ethereum saw a complete value drop (-100%) after 1,769,800,761,000,000 TRUF were dumped for approximately 72.9 WETH ($256.6K), indicating a rug pull, while sharing the same name as the legitimate one. The March 2024 Munchables Hack on the Blast Layer-2 network, resulting in a $62 million loss, underscored the importance of vetting DeFi project teams. It was revealed that four developers, suspected to be the same person, were behind the attack using an upgradeable proxy contract.