Blast-based Leaper Finance flagged as expert cites nearly $1 million bait

Source Fxstreet
  • ZachXBT has flagged Leaper Finance, alleging project heads are associated with previous rugs.
  • On-chain detective associates them with stolen funds on Magnate, Kokomo, Lendora, and Solfire, among others.
  • Reportedly, scammers let TVL grow significantly before rugging, with projects running on Base, Solana, Scroll, Optimism, Arbitrum, Ethereum, and Avalanche.

Renowned on-chain detective ZachXBT has flagged Leaper Finance, a new project on Layer 2 (L2)  network Blast. Blast is an EVM-equivalent optimistic rollup on Ethereum, offering native yield (staking rewards) for Ethereum (ETH) as well as stablecoins (USDC, USDT, DAI) for depositors.

Blast advertises higher speed and cheaper fees besides the passive income incentive for depositors. This explains its allure for projects.

Also Read: Blast L2 backed protocol, Risk, rugs 500 ETH amid shoddy due diligence in project onboarding

On-chain detective flags Leaper Finance

ZachXBT has called community attention to a new project on Blast L2, Leaper Finance, saying, “The group of scammers who stole 8 figs [8 figures] with Magnate, Kokomo, Lendora, Solfire, etc is back…”

According to the on-chain detective, reputed for flagging multiple other rug pulls in the crypto sector, the group funded an address on Blast last week. Specifically, they depositing approximately $1 million of funds sourced and laundered from their previous malpractices. ZachXBT describes these deposits as a liquidity influx intended to bait people.

In the past they let the TVL grow to 7 figs before stealing all of users funds deposited to the protocol and falsify KYC documents + use low tier audit firms.

Reportedly, the group has swindles running on “Base, Solana, Scroll, Optimism, Arbitrum, Ethereum, and Avalanche” networks, ZachXBT says, adding Base-based Zebra Lending to the list of possible rugs.

Neither Leaper Finance nor Zebra Lending immediately responded to FXStreet request for comment.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold posts first weekly gain in three weeks — can $4,200 hold through CPI?Spot gold closed at $4,194.645, up 1.47% — its first weekly gain in three weeks — and COMEX futures settled back above $4,200 at $4,220.30. Here are the drivers, the levels and the scenarios into Wednesday's CPI.
Author  Irene Q.
Yesterday 05: 48
Spot gold closed at $4,194.645, up 1.47% — its first weekly gain in three weeks — and COMEX futures settled back above $4,200 at $4,220.30. Here are the drivers, the levels and the scenarios into Wednesday's CPI.
placeholder
US September CPI preview: inflation set to hit 3.7% — will the Fed hike in December?US September CPI lands Wednesday with headline inflation seen at 3.7% y/y and core at 0.2% m/m. December hike odds sit near 70% — here are the scenarios, the calendar and the key levels.
Author  Irene Q.
Yesterday 03: 23
US September CPI lands Wednesday with headline inflation seen at 3.7% y/y and core at 0.2% m/m. December hike odds sit near 70% — here are the scenarios, the calendar and the key levels.
placeholder
Gold Price Forecast: Gold Rebounds Above $4,200, Can Falling Oil Prices Drive Another Rally?As of Friday (October 9), gold prices (XAUUSD) rebounded noticeably after consecutive declines. During today's Asian session, gold prices briefly rebounded above $4,200, reaching an intra
Author  TradingKey
Oct 09, Fri
As of Friday (October 9), gold prices (XAUUSD) rebounded noticeably after consecutive declines. During today's Asian session, gold prices briefly rebounded above $4,200, reaching an intra
placeholder
Hurricane Isaias has shut in a quarter of Gulf oil output — can WTI clear $92 before Thursday's EIA report?WTI trades at $90.80 after rebounding roughly 3% from Wednesday's $87.96 low as Hurricane Isaias — the Atlantic season's first — forces producers to shut in about 25% of US Gulf of Mexico output. Brent holds at $103.41. The first official read on the disruption arrives with the EIA weekly petroleum report on Thursday 15 October — here are the key levels and both scenarios.
Author  Irene Q.
Oct 09, Fri
WTI trades at $90.80 after rebounding roughly 3% from Wednesday's $87.96 low as Hurricane Isaias — the Atlantic season's first — forces producers to shut in about 25% of US Gulf of Mexico output. Brent holds at $103.41. The first official read on the disruption arrives with the EIA weekly petroleum report on Thursday 15 October — here are the key levels and both scenarios.
placeholder
【Daily Brief】Gold rebounds 1% off a two-month low, Nasdaq drops 1.25% and yields ease — the storm premium keeps WTI near $91Gold trades at $4,174 after rebounding from Wednesday's $4,090 two-month low, the Nasdaq fell 1.25% while the Dow edged higher, and the 10-year Treasury eased to 5.23% from the week's highs. Hurricane Isaias keeps about 25% of Gulf output shut in with WTI near $91, and bitcoin holds below $82,000. The next scheduled tests are the EIA report on 15 October and the FOMC on 27-28 October.
Author  Irene Q.
Oct 09, Fri
Gold trades at $4,174 after rebounding from Wednesday's $4,090 two-month low, the Nasdaq fell 1.25% while the Dow edged higher, and the 10-year Treasury eased to 5.23% from the week's highs. Hurricane Isaias keeps about 25% of Gulf output shut in with WTI near $91, and bitcoin holds below $82,000. The next scheduled tests are the EIA report on 15 October and the FOMC on 27-28 October.
Related Instrument
goTop
quote