RugDoc Alerts the Public Over an Ongoing Rug Pull on ArbiSwap

• RugDoc advised followers to withdraw funds from ArbiSwap over an identified RugPull.
• The RugPull involves the swapping of a significant contract containing the “recoverToken” function.
• ArbiSwap users are advised to avoid accessing the platform through the website.

RugDoc, the famous DeFi safety and education community raised the alarm over an ongoing rug pull on ArbiSwap, an acclaimed native utility layer on Arbitrum. In a Twitter post, the organization advised its followers to withdraw their funds from ArbiSwap and revoke existing approvals as soon as possible.

@Arbi_Swap is RUGGING its users!

Emergency withdraw https://t.co/FiD7vk929P
and revoke approvals ASAP! https://t.co/JLb7XQ5oay

MC: https://t.co/aTGWsxsbo9

Router: https://t.co/cinqNdRzJr

Rug: https://t.co/Jz2iiZGP94 pic.twitter.com/x6gvyMPXaf

— Rugdoc.io (@RugDocIO) March 2, 2023

According to RugDoc, the thief swapped a significant contract containing the “recoverToken” function. It replaced the original contract with an alternative used to siphon investors’ funds.

RugDoc confirmed that members of its community who deposited into the initial contract on ArbiSwap had nothing to worry about.…

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