Cronosbased crypto lending platform CroLendshut down social media platforms and total locked-in assets ( TVL) value is reset.
Decentralized smart contracts platform Cronosis working hard to grow and expand its ecosystem. Cronosespecially in the network DeFi and crypto lending platforms. The day-to-day adoption of the crypto industry and the increase in the number of users are also attracting the attention of projects. Projects that are generally marketed through social media channels can reach millions of dollars in investments. One of these projects CroLend, Cronosoffered in its network DeFi with its platform. However, the project made moves that made its users nervous.
Cronos-Based CroLend Annoyed Its Users
PeckShieldAlertAccording to the analysis by Cronosbased DeFi platform CroLend There are problems on the side. The analytics channel stated that the project has shut down its social media channels and website.
#PeckShieldAlert A PeckShield community contributor has reported that @Crolend_io on @cronos_chain seems to be rugpull. @Crolend_io already deleted its social accounts/groups and the website is down
The stolen funds are sit in https://t.co/1GVBJLcYcy pic.twitter.com/cgMGNXyZZa— PeckShieldAlert (@PeckShieldAlert) December 2, 2022
CroLend ‘s social media channels and website shut down brought to the fore the fear of investors being defrauded. In addition, locked assets belonging to the platform, 600 thousanddropped from the dollar level to zero.
The scam, called a quick carpet pull, has become one of the biggest problems in the crypto industry. Projects can use the interest of investors for very bad purposes.
