The crypto community is concerned after a rug-pull incident suspected to involve the Gemholic project and the zkSync network.
Many users affected by the Gemholic scam took to X to warn. NSerec, founder of Zkmarkets, confirmed that Gemholic stole $3.5 million.
In the X post, NSerec claimed that Gemholic had been deceiving its investors for a year by falsely promising refunds. When the funds were finally unlocked, the team performed what appeared to be a rug pull. NSerec revealed that the contract creator's address is sponsored by Binance and asked community members with information on how Binance can assist to contact them.
KYC provider silence
Despite completing KYC verification with SolidProof, the verification service has not publicly addressed the situation. NSerec believes that this silence may be an attempt to prevent FUD from spreading among investors.
According to NSerec, a KYC provider must admit that they did not do a good job vetting the people involved, or they should report the fraudsters to the authorities and inform the public what happened. . If SolidProof continues to ignore this issue, their service should not be trusted.
Zkmarkets founder said if SolidProof fails to handle the Gemholic scam, those affected should hold SolidProof accountable. He even suggested that if they don't act, people should start calling them “UselessProof” instead of “SolidProof.”
Background
The zkSync Gemholic project has had its funds locked for over a year because of an error in the sales contract. Matter Labs, the team behind the layer-2 scaling solution zkSync, identified the issue as stemming from the .transfer() function in the GemstoneIDO smart contract, part of the project run by the GemholicECO ecosystem.
On June 7, zkSync completed the v24 upgrade, fixing the issue and allowing access to locked funds.
After the upgrade, the Gemholic project withdrew 921 Ether from the contract and transferred it to the Ethereum blockchain. Gemholic's X account and all Telegram messages were also deleted at the time of publication.
*Rug pull is a term in the field of cryptocurrency and decentralized finance (DeFi), referring to a fraudulent action in which the developers of a cryptocurrency or DeFi project suddenly withdraw all funds invested in the project and disappeared, leaving investors with tokens that were no longer valuable. This is a common type of scam in emerging and unproven projects.
*FUD stands for Fear, Uncertainty, and Doubt. This is a tactic commonly used in business and investing to influence public perception of a product or service, often by spreading negative or misleading information. In the cryptocurrency context, FUD can reduce the value of a coin or project by creating anxiety and panic among the investor community.
Source: https://tapchibitcoin.io/du-an-gemholic-cua-zksync-bi-nghi-ngo-rug-pull-35-trieu-usd.html
