DeFi project Swaprum has disappeared with client funds totaling $3 million in what appears to be a rug pull, just weeks after it was audited by CertiK. Now people are pointing fingers at CertiK, saying it approved “another rug pull.”

Security firm PeckShield said on Twitter that the money was in the form of Ethereum and the “scammers” used popular coin mixing app Tornado Cash to launder the funds. 

Swaprum, a decentralized exchange (DEX) which runs on Ethereum scaling solution Arbitrum, appears to now have deleted all its social media accounts. Its website, which allows users to swap digital coins and tokens without signing up, remains active. 

A rug pull happens when a developer launches a project that seems legitimate but then disappears with investor funds. Decentralized finance protocols—apps that want to automate what banks and brokerages do—get hit hard by hacks<

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Author: Mathew Di Salvo

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