Crypto Platform Developers Vanish with Investors’ Funds: A New Case of Crypto Fraud

• Another cryptocurrency platform, LENX Finance, is under suspicion of a rug pull scam, with investors’ funds reportedly disappearing.
• The platform, which had raised $10.22 million in funding on January 7 this year, allegedly transferred all treasury funds on March 27 and has not updated its official Twitter account since then.
• LENX Finance, initially known as RenaissanceDAO, a fragmented NFT market inspired by OlympusDAO, had completed a seed round investment of $250,000 to Frax Finance on February 28, 2022.

LENX Finance, a cryptocurrency platform, is suspected of a rug pull scam, with investors’ funds reportedly missing. The platform had previously raised $10.22 million and completed a seed round investment to Frax Finance.

LENX Finance Under Rug Pull Scam Suspicion

LENX Finance, a cryptocurrency platform that had successfully raised $10.22 million in funding earlier this year, is now under suspicion of a rug pull scam. Investors have reported that all treasury funds were transferred on March 27, and the platform’s official Twitter account has not been updated since then. This has raised concerns among investors and the broader crypto community.

Previous Investment and Market Position

Known initially as RenaissanceDAO, a fragmented NFT market inspired by OlympusDAO, LENX Finance had completed a seed round investment of $250,000 to Frax Finance on February 28, 2022. This move had positioned the platform as a significant player in the crypto market, making the current allegations even more shocking.

Other Recent Rug Pull Scams

Approximately two weeks ago, the crypto space faced another rug pull allegation. This time, blockchain platform ZKasino was at the center of accusations, with many investors claiming their funds were stolen... Read the full article for FREE at COINOTAG!