#RugPull : Chibi Finance users lose more than $1 million in #cryptocurrencies

A decentralized finance (DeFi) project on Arbitrum stole more than $1 million in user funds. The Chibi Finance team deleted their social media accounts and official website. Therefore, the community suspects a rug pull.

Investors seek quick returns by investing money in new projects, but this approach involves several risks. Some projects may lose users' funds due to attacks due to security vulnerabilities in their smart contracts, while others may carry out rug pulls.