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ArbiSwap, one of the first decentralized exchanges built on Ethereum Layer-2 Arbitrum, has seemingly rug-pulled its users.
On Thursday, the developers behind ArbiSwap minted a trillion new ARBI tokens and swapped them for USDC and then for ETH. ARBI plummeted from $1.5 to a fraction of a cent in seconds.
The rogue developers could do so because they control ArbiSwap’s liquidity pools. Some industry observers believe that ArbiSwap is hardrugging, meaning they’re draining every pool available on...
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