This Cryptocurrency Platform Stole User Funds!

A cryptocurrency platform has committed a “rug pull” scam by stealing its users’ money. The total value of the coins stolen by the scammers is approximately $1 million. Here are the details…

Cryptocurrency platform defrauded its users

It has been reported that the decentralized finance (DeFi) platform called Harvest Keeper has stolen about $1 million worth of crypto assets from its users, committing fraud. A month after launching what it claims is an innovative artificial intelligence-based (AI) DeFi platform that removes the human factor in crypto trading, Harvest Keeper has performed a “rug pull”. According to a tweet posted by blockchain security and analytics platform CertiK Alert on March 19, the Harvest Keeper project has been confirmed to be a complete scam. Because the creators of the project seemed to have exhausted a large amount of user assets.

Funds in the Harvest Keeper smart contract were received via a privileged “getAmount” function, where approximately 709,000 USDT was transferred to an attacker-controlled EOA 0x027c8 address and approximately $219,000 was stolen via phishing across the Binance Smart Chain (BSC), Ethereum and Polygon Blockchains. emptied. Specifically, “ice phishing” attacks like this case are those in which the scammer tricks the victim into unknowingly obtaining some permissions to allow them to spend their crypto assets.

Rug pull scams continue to rise

A total of 544 rug pulls and scams totaling over $26 billion have been recorded in the web3 domain so far, according to data available in Comparitech’s analytics tool that monitors global crypto and NFT rug pulls and scams. As we have also reported as Kriptokoin.com, rug pull is a fraud that has taken over the market in the past years and as it can be seen, large asset losses can occur. At the time of this report, the global DeFi ecosystem has a total locked value (TVL) of $48.67 billion, according to Defi Llama. Among them, Lido occupies number one with TVL of $10.51 billion.

According to the statements, Harvest Keeper stated that it uses artificial intelligence and defined itself as “an innovative artificial intelligence-based project that completely eliminates the human factor from trade and creates the opportunity to make profits 24 hours a day”. As it is known, recently, the artificial intelligence (AI) craze has taken over the cryptocurrency market to some extent. Many projects related to this field are experiencing strong growth. Looks like Harvest Keeper was taking advantage of this too. The project was telling users that they could receive a daily reward of 4.81 percent. In particular, Harvest Keeper said users can use an automated trading system that offers high efficiency. The project was introduced as a platform that can assist users in turbulent market conditions.