According to TechFlow, the Meme project BorpaToken posted a message on the X platform, announcing the termination of cooperation with the cross-chain DeFi protocol EntangleFi, and has completed snapshots of Solana, Ethereum, Base, BNB Chain, and Arbitrum. BorpaToken will migrate to a new smart contract to completely break away from EntangleFi. Holders of snapshot records will be migrated in the next few days.
BorpaToken explained that the reasons for the termination of the cooperation included EntangleFi's repeated failure to meet deadlines, bridge failures, poor communication, lack of transparency, and insufficient testing. In particular, on June 27, EntangleFi's bridge was completely shut down due to 700 transactions within 30 minutes of launch. In addition, EntangleFi performed poorly in stress testing and failed to meet expected performance standards.
According to previous news, on June 30, Entangle published an announcement on X, saying that the official X account of BorpaToken, a meme token project it developed, had been stolen. However, the official X account of BorpaToken later stated that its X account was stolen because an intern unfortunately clicked on a phishing website link.