Base and Linea Users Lose $460,000 as SwirlLend Vanishes in Suspected Exit Scam SwirlLend, an Ethereum Layer 2 lending project active on the Base and Linea networks,
has reportedly pulled off an exit scam that has resulted in the disappearance of an estimated $460,000 in user deposits.
According to a comprehensive on-chain analysis conducted by cybersecurity
firm PeckShield, t
he SwirlLend team purportedly withdrew approximately $290,000 from the Base network and around $170,000 from the Linea network, subsequently funneling these assets
to the Ethereum blockchain.
Notably,
DeFiLlama data indicates that the total user deposits on SwirlLend plummeted from
a substantial $780,000 to a mere $49 as the unfolding events took place.
The digital footprint
of SwirlLend appears to have been completely erased, as the project's social media accounts on platforms
such as Twitter and Telegram have been deleted. The project’s official website remains inaccessible,
adding to the suspicion surrounding the exit scam.
PeckShield, an authoritative entity in the cybersecurity realm,
has labeled this incident a "rug pull."
