zkSync Era’s Kannagi Finance: A $2.13m Rug Pull ⚠️
#Kannagi Finance, a decentralized yield aggregator, recently performed a rug pull, absconding with around $2.13 million of investor funds and vanished from the internet, leaving its website and social channels offline.
SolidProof audited its smart contract but not the Vault contracts related to the incident. MistTrack revealed that $1.1 million worth of Ethereum from the rug pull was sent to the Tornado Cash crypto mixer.
As of July 28, Kannagi Finance held a TVL of $2.13 million, but it now stands at a mere $0.17, almost 100% loss for users.
This incident adds to #zkSync Era network's woes, following the $3.4 million EraLend hack on July 25, affecting its reputation and causing the TVL to drop significantly from its peak of $500 million to $154.59 million.
