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The biggest carpet pull ever in the Solana ecosystem steals nearly $ 10 million

  • The Solana blockchain exceeded $ 2 billion in total today, ahead of the largest rug pull in the history of the project.
  • Luna Yield, an ecological liquidity farming project, has slashed its website, Twitter and Telegram phones, and pulled nearly $ 10 million in liquidity.
  • SolPad, Solana’s financial launchpad, recently hosted Luna Yield IDO on their platform, and the team has reportedly contacted a third party to investigate further.

The Solana course rally slowed down after a two-week bull run. Users fear a rug pull and nearly $ 10 million loss as Luna Yield goes dark on social media.

Luna Yield’s Rug Pull Affects Merchants In SOL Ecosystem, Users Cannot “Pick Up” Funds

When the Luna Yield team pulled down the website today and went offline on all social media, Twitter and Telegram, users moved on to “removing” funds from the project’s liquidity pools. This move was unsuccessful and traders lost nearly $ 10 million in the largest rug pull in the Solana ecosystem.

The following image shows documented unsuccessful attempts by a Luna Yield user on the Solana Explorer.

A screenshot of a user trying to remove funds from Luna Yield’s liquidity pool.

Although the user tried to “withdraw” funds, those attempts were unsuccessful due to the zero balance in the pool. The Luna Yield team, which set up the staking contract for the liquidity pool, moved funds out of the “pools” in which they were deployed.

There is evidence that Bitcoin has left the staking pools.

A screenshot of an address that supposedly authorized the rug-pull transactions

A screenshot of the address that supposedly authorized the rug-pull transactions.

Upon further investigation, community users identified the address of the “owner” of the program who authorized the transactions that led to the rug pull. The user with the address “ivBMuQdExFYSQraWteitugJ5AixJF9AeVwgdCjQhGwM” financed the coin authorization of the LUNY token (Native Asset of Luna Yield).

It is currently unclear whether the funds ended up on a central exchange or a bridge. Recently, the DeFi community has raised concerns about the lack of transparency in the Solana ecosystem as several things continue to occur under closed source.

On Tuesday, Luna Yield had its first decentralized offer (IDO) on SolPAD, a launchpad on the Solana blockchain. SolPad shared the news on Twitter.

Luna Yield, the newest IDO on our launchpad, seems to be having some issues. The Luna Yield team has retired its website and all other social media. They also deprive of any liquidity. SolPAD still can’t reach Luna Yield Team to find out what happened.

– SolPAD (@FinanceSolpad) August 19, 2021

The Launchpad team claims they contacted third parties to investigate the issue.

A developer who builds on the Solana network behind the Twitter handle @hoaktrades has checked the incident with the rug pull and informed the community about critical details in a long thread

Ok … so I wanted to try and finish the serum library tests and stream them tonight, but Luna Yield decided to pull a carpet and steal something like $ ~ 8 million (can’t confirm atm)

A THREAD to hopefully all of you pills degens on #Solana to pay attention to what you are doing.

– hoakegani (@hoaktrades) August 20, 2021

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