Yield aggregator platform Blur Finance has allegedly been rug pulled as over $600,000 value of tokens was withdrawn inside minutes.

Security agency PeckShield tweeted on August 10 that Blur Finance builders have taken out over $600,000 from its Polygon and BNB Chain contracts.

The BLR token was buying and selling at $0.00064 as of press time — down 99% from its peak of $0.06 solely about 24 hours in the past.

Blur Finance launched on BNB Chain on July 7 and had gained 733 holders earlier than the rug pull. At the second, all its social media channels have been deleted.

Same mannequin for current rug pulls

Two days in the past, PeckShield flagged an alleged rug pull of over $1 million by Dragoma builders. $420,000 USDT and 880,000 MATIC reportedly vanished from the polygon contract.

Similarly, on July 25, Teddy Doge developers made away with $4.5 million in a mushy rug pull. According to the report, 30 billion TEDDY tokens had been swapped for BNB and BUSD after which cashed out by means of the Binance alternate.

In every occasion of the rug pull, the undertaking builders would market aggressively and provide excessive return guarantees. Investors who take the bait are sometimes left with sudden losses.

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