Luna Yield promised investors high returns, and then its management disappeared with users' money.
The Luna Yield team is suspected of stealing $8 million from its investors.
The official project website and social media accounts have been deleted. SolPad, the initial digital offering (IDO) platform that hosted Luna Yield, said the team behind Luna Yield withdrew all liquidity and transferred funds to Tornado Cash, a smart contract-based mixer.
SolPad promises to return 60% of lost funds to Luna Yield IDO participants. The money will be taken from the SolPad Foundation. Compensation will be directly transferred to the wallets of IDO participants.
Subscribe to ForkNews in Telegram to always stay up to date with the latest news from the world of cryptocurrencies
You May Also Like
The creators of the Arbix Finance platform committed an exit scam
The CertiK security audit series reported the DeFi exit scam of the Arbix Finance project.
Cream Finance DeFi protocol hacked again
The Cream Finance DeFi protocol was hacked for the second time this year. Estimated damage was $18 million.
