RUG PULL ALERT 馃毄 ZKasino Investor's & Hedgey Finance Lose Millions! 馃槨 Here What Happened 馃憞
Two devastating events occurred previous days. Crypto betting site casino (ZKasino) and the DeFi platform Hedgey Finance made investors lose millions. ZKasino has redirected $33 million in promised refunds to Lido instead. So basically, instead of converting investor's funds into the native token ZKAS, they put them in a discounted rate with a lengthy vesting schedule. ZKasino's behavior has consequently broke the trust of investors that were expecting a different outcome. In addition, they lost the control of their funds. I feel that this situation could turn in a rug pull soon.
From the others side, two separate exploits affected the DeFi platform Hedgey Finance. Specifically, 1 exploit on the Arbitrum network with $42.8 million loss and 1 on the Ethereum network with $1.9 million loss. That's totaling $44.7 million in lost funds. That's a situation that could have been avoided in my opinion. In fact, especially DeFi platforms, should work strictly with auditors (e.g. Certik) and thus mitigate the risk of these exploits!
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