IBXtrade Rug Pull: $21.80M Reported Loss
DeFi analyst Anon Vee posted on X that several users have reported that the Orderly Network ecosystem project IBXtrade is suspected of a rug pull.
- Reported loss
- $ 21,800,000
- Attack category
- Rug Pull
Incident Overview
It is reported that IBXtrade launched a pre-sale three days ago with a target to raise 2,000 SOL (approximately $3.2 million) and refund any unselected participants. The pre-sale ended up raising over 160,000 SOL (about $24 million), with participants originally expecting the project to return $21.8 million. However, instead of issuing refunds, the IBXtrade team created a poll on a website entirely under their control, asking whether the pre-sale cap should be raised. The poll eventually passed, and IBXtrade claimed to have refunded 65,000 SOL ($9.7 million) to participants. In reality, the team simply transferred these SOL to multiple addresses they created, and users reported not receiving any refunds.
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.