ArbiSwap DEX on Arbitrum Closes with Rug Pulling Over $100,000 Users Out of Platform’s Liquidity Pools
ArbiSwap’s ARBI token price has also dropped significantly from $1.5 in the last 24 hours. Blockchain data shows that developers created 1 billion fake tokens and swapped them for USD Coin (USDC) and almost 69 Ether (ETH).
Blockchain data from DEXTools shows that the liquidity of the project is only $4 million on ArbiSwap. The project was launched in February and TVL wasIt quickly grew to $4.4 million.
ArbiSwap provides exchange services for various cryptocurrencies at low fees on its platform. and advertised that 100% of all revenues would be returned to ARBI holders, which quickly aroused interest for ArbiSwap among users.
The developers of ArbiSwap cannot currently be contacted and the links on ArbiSwap’s website are currently unavailable.
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