Just one day after a flurry of activity on its highly anticipated Ethereum layer-2 network, and it looks like scammers used the freshly minted Bald token to target Coinbase’s latest product. 

Base, which America’s biggest cryptocurrency exchange hopes will be a new ecosystem for crypto projects, launched earlier this month. 

Traders yesterday rushed to buy new tokens running on the network using decentralized exchange LeetSwap.

But today, it looks like one of the new tokens—Bald, which dropped yesterday—was a rug pull after the token’s deployer removed $25.6 millions of dollars in liquidity. 

Rug pulls are notoriously common in the crypto world—especially the sphere of decentralized finance (DeFi). 

They happen when a developer launches a new token and makes it seem as though the project is legit and then removes the

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Author: Mathew Di Salvo

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