#ChibiFinance users lose more than $1 million

#Blockchain security firm #PeckShield reported that Chibi Finance stole more than $1 million in cryptocurrencies from users. The developers reportedly performed a #RugPull

Later, the developers used #TornadoCash to funnel the funds. They have also abandoned their social media presence, making it difficult for the community to communicate with and question them.

Incidents where the core project team steals user funds and disables their online presence are called rug pulls.