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HomeCrypto NewsMarketBSC-Based BNB42 Rug Pull Cryptocurrency Investors For 6,400 BNB 

BSC-Based BNB42 Rug Pull Cryptocurrency Investors For 6,400 BNB 

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Scammers are feeling themselves in heaven as on daily basis, they loot innocent investors for millions.



A recent report from real-time crypto alerts platform Peck Shield suggests that new decentralized finance (DeFi) has rug pulled unsuspecting investors.  

Developers of the investment platform BNB42, a decentralized investment platform, took advantage of a bug in the project to steal users’ funds worth $2.7 million. 

Peck Shield noted that the attackers stole a total of 6,400 Binance Coins (BNB), worth around $2.7 million at press time from an unverified contract in the early hours of yesterday. 

Moments after the unfortunate incident, the funds were initially transferred to a wallet address. However, the attackers proceeded to split the stolen funds into multiple addresses to avoid being tracked

 

BNB42 Enticing Benefits

The development affected several investors who believed the BNB42 platform would be a better investment initiative that would enable them to make huge returns in a short time. 

It is worth noting that BNB42 was able to lure many investors to its platform by promising mouthwatering ROI for all investments made.  

BNB42 claims to be a 100% investment platform that is built on the Binance Smart Chain (BSC). 

The platform promised investors a 20% daily ROI and subsequently increased the profit margin to 200% of users keep their investments for 10 days, a promise that sounded too good to be true. 

The illicit crypto investment platform assures users of their safety, saying that they are free to withdraw their funds at any time. 

In addition, users are promised a reward when they refer their friends to use the platform. 

Rug pulls are becoming the norm in the crypto space as malefactors take advantage of investors’ quest to make huge profits. 

Over three cryptocurrency rug pull cases have been reported in just this month, including Baby Musk Coin (BABYMUSK), Titano Finance, and the YouTuber who allegedly stole $500,000 from his fans via a rug pull scandal. 

 

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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