The DeFi project, Blur Finance, reported a loss of $600K after its developers suddenly abandoned the project. The social media channels of Blur Finance also were deleted.
<h2>Rug Pull On Blur Finance</h2>
https://twitter.com/PeckShieldAlert/status/1557259094058102785

According to reports, the developers of Blur Finance ceased operations on the project and took down its social media channels. Tokens worth more than $600,000 disappeared during the process, <a href="https://twitter.com/PeckShieldAlert" target="_blank" rel="nofollow noopener">PeckShield</a> reported Wednesday.

The website of the protocol displays an "invalid certificate" message, while its <a href="https://www.cryptoknowmics.com/news/samsung-us-launches-discord-server-as-part-of-web3-nft-plans/" target="_blank" rel="noopener">Discord</a> link shows an "invalid invitation" message.

The developers had used social media to gain popularity for this DeFi app. Popularization was done through social media marketing before issuing and listing the tokens on a decentralized exchange (DEX). After the sale, the developers disappeared, leaving the buyers in utter shock. This scam is known as a Textbook rug pull and resulted in the loss of tokens worth $600,000.

Reports suggested that Blur had more than 754 holders on the BNB chain. The DeFi project had recently tied knots with Polygon and supplied annualized yields of 4,000% last week with the contact made on July 7. The BLR token of Blur fell 99% as an effect of the rug pull, trading at $.00064 at the time of writing. Last week, its price peaked at 6 cents.

A rug pull valued at $3.5 million occurred last week for investors in Polygon-based <a href="https://www.cryptoknowmics.com/news/startup-community-launch-house-raised-10m-fund-with-web3-in-focus/" target="_blank" rel="noopener">Web3</a> game Dragoma. $420,000 USDT and 880,000 MATIC also reportedly vanished from a polygon contract.

Blur Finance Facing Loss of More Than $600K, Developers Disappeared

Blur Finance reported a loss of $600K after its developers suddenly abandoned the project. The social media channels of Blur Finance also were deleted. 

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Blur Finance Facing Loss of More Than $600K, Developers Disappeared

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