- ArbiSwap developers minted a trillion ARBI tokens and swapped them for USDC and ETH.
- ARBI is down 100%.
- The rogue developers moved the stolen funds through the Etheruem-based mixer Tornado Cash.
On Thursday, the developers behind ArbiSwap minted a trillion new ARBI tokens and swapped them for USDC and then for ETH. ARBI plummeted from $1.5 to a fraction of a cent in seconds.
https://twitter.com/PeckShieldAlert/status/1631192691563438081?s=20 The rogue developers could do so because they control ArbiSwapâs liquidity pools. Some industry observers believe that ArbiSwap is hardrugging, meaning theyâre draining every pool available on the exchange.
So far, the developers have been able to steal around 69 ether (ETH) ($113,160). They have moved 84...