Security Incident · ETH Ecosystem
StableMagnet Rug Pull: $1.75M Reported Loss
The BSC on-chain project StableMagnet ran away and lost USD 24 million.
- Reported loss
- $ 1,750,000
- Attack category
- Rug Pull
Incident Overview
On August 12, the Greater Manchester Police Department announced that it had arrested the suspects of the StableMagnet Finance team who had previously taken away $22 million of users on the BSC. The police found a large amount of stolen Ethereum in the encrypted U disk. According to statistics, this money accounted for 90%($ 22,250,000) of the stolen cryptocurrency, and it is now beginning to reconnect with the legitimate owner.
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.