DeFi Luna Yield Protocol Stopped Working Two Days After Launch – Bits Media

Luna Yield Protocol on Solana Blockchain Stopped Unexpectedly - App Website Unavailable, and social media accounts have been deleted. Community suspects developers of fraud.

According to the posts on the official Twitter account of the primary platform digital placements (IDO) SolPad, Luna Yield protocol suddenly stopped working on the night of 20 August. As of the morning of Friday, the platform administration failed to contact the project team. The site Luna Yield does not work, And accounts on social networks were deleted.

Some community members suspect the developers of the protocol of fraud (rug pull). Although there is no official confirmation yet, In case of fraud, this will be the first major incident in the Defi ecosystem on Solana. Anonymous source informed Coindesk, that in the protocol, assets were blocked on $6.7 mln.

The amount was checked using the SOLANA blockchain conductor. Presumably stolen $382 648 From SOL-USDC Pula Liquidity, $22 139 From Pula Liquidity Luny-USDC, Luny on $89 504, USDC on $1 166 959, Ray on $463 100, Sol on $923 239, ETH на $1 483 732, USDT at $1 686 679 and yfi on $490 834.

“The money has already been lost, And it is impossible to return them ", - said the source. “They translated everything from SOLANA to Ethereum, and then to the Tornado Cash mixer ".

Luna Yield became the second IDO on Solpad - the protocol was launched on Tuesday. Solpad allows projects to attract capital on a decentralized platform on Solana. In her channel on Telegram Solpad, she said, that “collecting evidence” of fraud developers of the protocol, which can have a "huge impact on investors" and community.

The administration of the platform claims, What does everything possible, to provide evidence for all related parties, especially for large centralized exchanges. This will help large platforms block transactions.

"Solpad Finance is not related to the Luna Yield team", - says the statement of the platform. “We conduct IDO only for projects, submitting the necessary documents. Solpad is not responsible for any project activities, collecting money on Solpad ".

The administration of the platform promises a reward for providing any information, which will help to contact the Luna Yield team. Recall, that the other day is the total cost of crypto assets, blocked in Defi applications on the SOLANA blockchain, For the first time exceeded $2 billion against the backdrop of a historical maximum SOL prices.