CryptoMediaClub
Tuesday, October 7, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Arbitrum-Based DeFi Project Chibi Finance Rug Pulled: Over $1 Million Drained

29.06.2023
A A
0
127
VIEWS
ShareShare

In yet another case of a rug pull, Arbitrum-based Chibi Finance reportedly siphoned more than $1 million worth of various crypto assets. Notably, the protocol went live on Tuesday, but the developers managed to launder the stolen funds to other networks shortly after.

  • On-chain analysis conducted by blockchain security platform CertiK revealed that Chibi devs deployed a malicious contract that enabled them to steal user funds from the protocol’s smart contracts.
  • These funds were then sold for 555 Ether and transferred from Arbitrum to Ethereum on the same day, as per another security firm PeckShield, before being funneled to the coin mixing service Tornado Cash to conceal transaction trails.
  • Following the rug pull, Chibi Finance’s Twitter and Telegram profiles were disabled, and the website was deleted.
  • CertiK said that the latest exit scam is the 12th incident the platform recorded on Arbitrum in 2023.
  • A series of exit scams have emerged on Arbitrum as well as the wider Ethereum Layer 2 ecosystem recently, with the most recent being Swaprum.
  • As reported earlier, the developers behind the decentralized exchange drained $3 million worth of Ether from the protocol.
  • A recent report by Beosin revealed that the total amount of crypto assets lost to exit scams and rug pulls exceeded the amount pilfered from decentralized finance projects through exploits and attacks last month.
  • More than $45 million of crypto assets were stolen via rug pulls in May across six incidents, while other exploits in DeFi amounted to $19.6 million.

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Share10Tweet6ShareSharePin2

Related Posts

Bitcoin Price Prediction: Saylor’s $3.9B Profit, Japan’s Pro-Crypto Shift, and a Technical Path to $160K
All news

Bitcoin Price Prediction: Saylor’s $3.9B Profit, Japan’s Pro-Crypto Shift, and a Technical Path to $160K

07.10.2025
0

Bitcoin’s surge above $125,000 reflects growing institutional demand and global confidence. Michael Saylor’s Strategy Inc. paused new buys after a...

Read moreDetails
Pepe Price Prediction: PEPE Approaches Key Support – Next Move Could Double Your Money

Pepe Price Prediction: PEPE Approaches Key Support – Next Move Could Double Your Money

06.10.2025
Galaxy Digital Unveils New Trading App With Shocking 8% APY – But There’s a Catch

Galaxy Digital Unveils New Trading App With Shocking 8% APY – But There’s a Catch

06.10.2025
Grayscale Launches First US-Listed Spot Crypto ETFs Allowing Staking for ETH and SOL

Grayscale Launches First US-Listed Spot Crypto ETFs Allowing Staking for ETH and SOL

06.10.2025
Can’t Mine XRP? Explore New Avenues with Mint Miner Cloud Mining

Can’t Mine XRP? Explore New Avenues with Mint Miner Cloud Mining

06.10.2025
Load More
Next Post
Top 5 Meme Coins to Buy in July 2023 — The Ultimate Guide

Top 5 Meme Coins to Buy in July 2023 — The Ultimate Guide

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Arbitrum Remains Top Destination for Capital Flowing Away From Ethereum: Data

2 years ago
Bybit Suffers Greatest Crypto Trade Hack Price $1.4 Billion

Bybit Suffers Greatest Crypto Trade Hack Price $1.4 Billion

7 months ago
Chainlink and Altcoins Poised for Further Surges: Analytics Firm’s Insights

Chainlink and Altcoins Poised for Further Surges: Analytics Firm’s Insights

2 years ago
Shiba Inu Developer’s Bold Move: Renounces Control of BONE Token, Sparking Price Surge

Shiba Inu Developer’s Bold Move: Renounces Control of BONE Token, Sparking Price Surge

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Galaxy Digital Unveils New Trading App With Shocking 8% APY – But There’s a Catch

Grayscale Launches First US-Listed Spot Crypto ETFs Allowing Staking for ETH and SOL

Can’t Mine XRP? Explore New Avenues with Mint Miner Cloud Mining

Bitcoin’s Surge Led to Widespread Liquidations, Prompting Investors to Turn to Arc Miner

From Tether to STBL: Reeve Collins Charts the Future of Stablecoins and Web3

Fiscal Fears Fuel Flight to Bitcoin, Gold as Major Currencies Falter

Trending

Bitcoin Price Prediction: Saylor’s $3.9B Profit, Japan’s Pro-Crypto Shift, and a Technical Path to $160K
All news

Bitcoin Price Prediction: Saylor’s $3.9B Profit, Japan’s Pro-Crypto Shift, and a Technical Path to $160K

07.10.2025
0

Bitcoin’s surge above $125,000 reflects growing institutional demand and global confidence. Michael Saylor’s Strategy Inc. paused new...

Pepe Price Prediction: PEPE Approaches Key Support – Next Move Could Double Your Money

Pepe Price Prediction: PEPE Approaches Key Support – Next Move Could Double Your Money

06.10.2025
Bitcoin’s realized price is the real bull market signal

Bitcoin’s realized price is the real bull market signal

06.10.2025
Galaxy Digital Unveils New Trading App With Shocking 8% APY – But There’s a Catch

Galaxy Digital Unveils New Trading App With Shocking 8% APY – But There’s a Catch

06.10.2025
Grayscale Launches First US-Listed Spot Crypto ETFs Allowing Staking for ETH and SOL

Grayscale Launches First US-Listed Spot Crypto ETFs Allowing Staking for ETH and SOL

06.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz