Odaily Planet Daily News CoinGecko data shows that the Magnate Finance protocol token MAG 24H fell by 28.4%, and is now at $0.00643063.
According to DeFiLlama data, the current TVL of Magnate Finance is 5.37 million US dollars.
Earlier news, on-chain detective ZachXBT tweeted that after being reminded by the community, the Base ecological lending agreement Magnate Finance may have an exit scam in the near future, because the address of the deployer is directly related to the Solfire exit scam. Its TVL currently exceeds $6.4 million.
ZachXBT said that Magnate Finance's website is currently unavailable, displaying "500 Internal Server Error". Its Telegram group has been deleted. The project is linked on-chain to the Kokomo Finance exit scam.