Odaily Planet Daily News According to Beosin Alert monitoring, the address of the Magnate Finance deployer is related to Solfire and Kokomo Finance where the Rug Pull occurred before.
On January 23, 2022, a Rug Pull of US$4.8 million was stolen from Solfire; on March 27, 2023, a Rug Pull of US$5.5 million was stolen from Kokomo Finance. Combined with the latest Magnate Finance Rug Pull incident, the scammers stole a total of $16.7 million.
Earlier today, it was reported that Magnate Finance conducted Rug Pull through oracle manipulation, resulting in a loss of approximately US$6.5 million.