DeFi protocol Luna Yield has gone offline without reasons, over $6.7 million in assets had been taken
According to the announcement from the SolPAD platform, after conducting IDO at this exchange, Luna Yield deleted websites, Twitter, and Telegram and more than tens of millions of dollars in liquidity. Currently, SolPAD still can’t reach Luna Yield Team to figure out what happened.
SolPad had listed Luna Yield just two days prior to the incident
We are trying to find ways to support users and contact some third parties to investigate the problem. Please be patient, and provide us any information related to Luna Yield. Thank you for your cooperation.
— SolPAD (@FinanceSolpad) August 19, 2021
At the moment, all of Luna’s social media platforms have been taken down. And SolPAD is trying to figure out how to support users and contact some third parties to investigate the problem.
It is known that Luna is SolPAD’s second IDO, which went live on Tuesday. After raising more than $6.7 million, Luna disappeared. It is known that the stolen account numbers include SOL, LUNY, USDC, RAY, ETH, USDT, YFI. Some are attributing the move offline to a rug pull. While no official confirmation has yet been made, the move will mark the first rug pull on Solana.
“The funds are already gone, and no way to get them back”, someone stated. “They moved all from SOL to Ether and then to the decentralized tornado cash service.”
In a SolPAD Telegram channel, the team said they are gathering evidence because Luna’s rug pull can make an enormous impact on its investors and community. It also said it is doing everything it can to provide proof to all parties involved, especially larger centralized exchanges so that the larger platforms can move to suspend and block funds.
“SolPAD Finance has no relation to the Luna Yield team,” the platform said. “We only host IDO for projects that submitted qualified documents. SolPAD assumes no responsibility or liability for any activity by the projects that held a public sale on SolPAD.”
Solana has grown in popularity since the end of last year and is the blockchain choice of billionaire Sam Bankman-Fried, who founded the FTX crypto exchange and who has invested heavily in projects based on Solana. Solana Labs, the leading company behind the network, raised $314 million in June. Currently SolPAD is asking users to provide information about Luna and will reward if that information is useful.
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