Blast Network’s layer 2 project, RiskOnBlast, has fallen victim to a significant exploit commonly referred to as a rug pull, resulting in the loss of approximately 500 Ether (ETH).
Investors and analysts are now raising questions about the scrutiny involved in the RiskOnBlast venture, which was backed by anonymous founders with no established reputation.
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.…
— Wu Blockchain (@WuBlockchain) February 25, 2024
Blast Network’s Reputation At Stake After Rug Pull
The reputation of the Blast network, a layer 2 solution built for Ethereum, is now at stake following the suspected rug pull in the RiskOnBlast project.
The platform, which garnered attention with its optimistic roll-up technology and ability t
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