SwirlLend rugs on new Coinbase layer 2 Base as large number of scammers reported

PeckShield reported in a post on X (previous Twitter) on Aug. 16 that SwirlLend transferred around $289,500 worth of cryptocurrency from Base. Related: Coinbase layer-2 network Base strikes 136,000 daily active usersThe SwirlLend rug pull came 2 days after Base project RocketSwap, a decentralized exchange, experienced an $865,000 exploit. There might be more problem ahead for Base, judging from a blog site post by crypto trade monitoring service Solidus Labs.

Base, Coinbases brand-new layer 2, has been fully operational for a week and has currently seen an increase of bad stars. PeckShield reported in a post on X (former Twitter) on Aug. 16 that SwirlLend moved around $289,500 worth of cryptocurrency from Base. Related: Coinbase layer-2 network Base strikes 136,000 daily active usersThe SwirlLend rug pull came 2 days after Base task RocketSwap, a decentralized exchange, experienced an $865,000 make use of.

There might be more problem ahead for Base, judging from a blog site post by crypto trade security service Solidus Labs. The company found more than 500 scam tokens on Base, it reported. That was in addition to “soft” carpet pulls such as BALD, which Solidus Labs approximated expense users $5.2 million.Coinbase revealed the launch of its Ethereum-based Base in February.