• ZachXBT cautions the crypto community against LeaperFinance, a project launched on Blast Network.

  • The sleuth claims that the project is launched by a group of scammers who stole millions from Magnate, Kokomo, Lendora, and Solfire thefts.

  • In another post, ZachXBT warns against ZebraLending, a project launched on Base Network.

Crypto sleuth ZachXBT has cautioned the crypto community against LeaperFinance, a project recently launched on Blast Network. ZachXBT warned that the project is launched by a group of scammers who “stole 8 figs with Magnate, Kokomo, Lendora, Solfire” etc.

Community Alert: The group of scammers who stole 8 figs with Magnate, Kokomo, Lendora, Solfire, etc is back with a new project on Blast @Leaperfinance Last week they funded an address on Blast with ~$1M of laundered funds from the previous rugs and have begun adding liquidity… pic.twitter.com/yqRKvZuuye

— ZachXBT (@zachxbt) April 14, 2024

Adding more insights into the matter, ZachXBT asserted that LeaperFinance has funded a Blast address with $1 million of the funds they laundered from the previous thefts. As per ZachXBT’s claims, LeaperFinance has begun adding liquidity to attract investors. Additionally, ZachXBT provided a clear picture of the movement of the funds, tracking the addresses involved in the transaction.

Further, the sleuth stated that the scammers manipulated the total value locked (TVL) to grow to 7 figures before the user funds theft. In addition, they have also falsified the KYC documents and used low-tier audit firms. Cautioning the community against the group’s further moves, ZachXBT alarmed, “They now have launched scams on Base, Solana, Scroll, Optimism, Arbitrum, Ethereum, Avalanche, etc.”

In a subsequent X post, ZachXBT warned the community of a possible scam involved in Base Network’s ZebraLending, which currently boasts a TVL of $311K. The researcher advised investors to withdraw their assets immediately.  

Update: Same scammers are also likely behind @ZebraLending on Base which is currently live with $311K TVLWithdraw your assets immediately if you have funds deposited in this protocol.Tracing: 1) 0x085 transfers 30 wETH to 0x9f8 on Base… pic.twitter.com/Hv0v70azA7

— ZachXBT (@zachxbt) April 14, 2024

Crypto sleuth Scam Sniffer’s previous report unveiled the increase in crypto scams and a grave loss of $47 million in phishing scams in February 2024 alone. Addressing the increasing crypto scams and exploits, Google has moved forward filing a lawsuit against the scammers who were allegedly responsible for defrauding over 100,000 crypto users.

The post Are Scammers Behind the Launch of LeaperFinance on Blast? Sleuth Explains appeared first on Coin Edition.