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28 July 2021

Polywhale Finance founders accused of rug pull amid abrupt shut down

Polywhale Finance founders accused of rug pull amid abrupt shut down


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Developers of Polywhale Finance, a leading yield farm on the Polygon network, have abandoned the project in what appears to be an elaborate exit scam worth over $1 million, cryptocurrency news outlet Crypto Briefing reported Monday. .

For starters, the official Telegram group for Polywhale Finance has been shuttered permanently, with community members increasingly convinced that the project comprised fraud.

The Treasury wallet had 5 million tokens on June 9, according to a member by the name of "Exceptional." Earlier in the day, a community member with the handle "SK" observed that the Treasury wallet had dwindled to just 1.6 million.

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