Background

· "Due to the hacking into the main account, we can’t proceed with the project anymore." Operators disappeared – CatSle

· Operators disappeared, official SNS are closed – SOLife

· Faced with 15million USD embezzlement lawsuit, forced to liquidate – Kronos

· Hacker Doohee Lee, “I repent for thinking high-end car as a compensation” – MetaKongz

· Police found allegations of embezzlement of Terra and Luna issuers, freezed company funds - Terra

· FTX managements knew that they paid debt with the customer’s funds – FTX

· Hyun-guk Jang said "Apology designated as a investment warning item…will leave all the supplies to the consignee" – WEMIX

The cryptocurrency world's eating and running, ‘Rug Pull’.

Rug pull is a metaphorical expression of pulling a rug and knocking people over, and in the crypto industries, it refers to an investment scam in which developers stop projects and steal investments.

According to Chainalysis, which provides blockchain data analysis services, cryptocurrency investors lost more than 2.8 billion USD in Rug pull in 2021.

FTX’s debt alone, which applied for bankruptcy this time, is about 50 billion USD.

The blockchain industry is at risk due to the Rug Pull , embezzlement and dereliction of duty.