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Illustration: A sad-looking Bored Ape Yacht Club NFT monkey looks at a world engulfed in flames.

Web3 is Going Just Great

...and is definitely not an enormous grift that's pouring lighter fluid on our already smoldering planet.

Created by Molly White. Subscribe to her newsletter for weekly recaps.

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June 23, 2021

StableMagnet makes off with $27 million in rug pull

StableMagnet creators rugpulled about $27 million from users by swapping out linked library code. Users who had StableMagnet linked to their cryptocurrency wallets saw their wallets drained.
  • "StableMagnet and Others Rugpull $22M in Stablecoin Through Unverified Swap Code", BSC.news
  • "STABLEMAGNET - REKT", rekt.news
Theme tags: Rug pull
Blockchain tags: Blockchain: BNB Chain
Tech tags: DeFi

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