NFT Swapping Platform MetaSwap Supposedly Rug Pulled: $600K Worth of BNB Stolen

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Reports emerged previously today indicating that the group behind MetaSwap– a protocol enabling NFT swaps over Ethereum, Binance, and Polygon– has stolen 1,100 BNB. Quickly after, the native token tanked.

  • The blockchain security and data analytics resource– PeckShield– identified suspicious habits coming from the MetaSwap group and recommended a soft-rug pull.
  • More specifically, the company stated the group behind the NFT switching platform had taken 1,100 BNB (worth appr. $605,000) and moved it to TornadoCash– an Ethereum-based tool established to break the on-chain link in between the recipient and location addresses.
  • PeckShield also said the MetaSwap’s native token– MGAS– had dumped by nearly 50%.
  • While PeckShield’s accusations are not yet confirmed, MetaSwap’s group went on to erase all social networks channels related to the protocol, which raises suspicions much more.
  • Hence, December continues to witness malicious activities in the digital possession area and DeFi especially.
  • CryptoPotato reported recently when the DeFi job– Grim Finance– was exploited for approximately $30 million worth of Fantom (FTM).
  • Formerly, the crypto exchange AscendEX (previously known as BitMax) came down with a hack, with approximately $80 million swiped. At the start of the month, Bitmart was breached, and the opponents took $200 million in different digital assets.

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