The Blast Ecosystem Faces Backlash for Endorsing the RiskOnBlast Project<\/span><\/h2>\n
<\/p>\n
A rug pull is a type of exit scam where a team raises money from investors and the public by selling a token, only to quietly shut down shortly afterward. The event has ignited disapproval due to the absence of proper scrutiny and reckless financial gambles<\/strong> on initiatives that appear to be established hastily. An investor reported a loss exceeding $12,500.<\/span><\/p>\nThe Blast team had previously posted about RiskOnBlast on its official handle, terming its potential as “undeniable”. Although Blast does not have direct control over the activities of projects on its blockchain, the social endorsement could be interpreted by investors as a mark of authenticity.<\/span><\/p>\nThe Blast protocol, introduced in mid-November, serves as a scaling solution for the Ethereum network.<\/strong> It offers native yields to those who stake their assets. Since its inception, it has amassed a total value of $2 billion, primarily from individuals seeking airdrops, as the platform pledged an airdrop event in May. Despite its success, the platform has faced several challenges, including bugs and controversies, in the months following its launch.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"TL;DR RiskOnBlast Vanishes: The gambling and exchange platform RiskOnBlast, based on the Blast layer-2 ecosystem, has disappeared, allegedly taking with it over 420 ether. This is suspected to be the first rug pull on Blast. Funds Transferred: The funds raised from over 750 wallets were found to have been transferred in large amounts to various … <\/p>\n
Read more<\/a><\/p>\n","protected":false},"author":32,"featured_media":162234,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[9887,4620,4679,5170],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/162233"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=162233"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/162233\/revisions"}],"predecessor-version":[{"id":162237,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/162233\/revisions\/162237"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/162234"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=162233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=162233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=162233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}