The cryptocurrency community is reeling from a recent scam involving the Blast project RiskOnBlast, which is suspected of being the first major rug pull on the platform. RiskOnBlast allegedly raised 420 ETH, worth approximately $1.25 million, from investors before the founders disappeared, deleting their Twitter account and washing approximately $850,000 of the stolen funds using the ChangeNOW service. This incident has sparked widespread discussion about the risks of investing in projects with anonymous founders and the importance of due diligence. Influencers and funds have been criticized for backing such projects without proper vetting, contributing to the success of these scams. The event has served as a cautionary tale for investors in the cryptocurrency space, highlighting the need for greater scrutiny and skepticism. Etherscan has flagged the last destination address of the stolen funds as a phishing/scam.
Sources
MoonCat
Full transparency update on the first RUG on @Blast_L2 called RiskOnBlast I am going to donate 1 ETH to @zachxbt tomorrow when back at home and hope he is able to help a bit to recover funds, I also am going to donate my $ 12,500 to Zach if he gets that back So let's dig in,… https://t.co/VjUd3qIR5a
Wu Blockchain The Blast project RiskOnBlast is suspected of being Rugpull. Twitter and the website can no longer be opened. It may be the first Rugpull project on Blast. It raised a total of 420 ETH, worth approximately $1.25 million. Etherscan has flagged 0x1E...C558 as a phishing/scam.…
Christian (Building @0xinfini) And that also means every project on Blast who keep DM me could stop cuz trust is very expensive. I only accept and invest projects that recommended by good friends I know them in personal. https://t.co/Q58qS9hme8