ChainCatcher message, according to MetaSleuth data, the attacker of Magnate Finance, KyberSwap, exchanged approximately 1 million USDC.e for DAI on Arbitrum.

ChainCatcher news, according to Beosin Alert monitoring, the deployer address of Magnate Finance is related to the previous Rug Pull incidents of Solfire and Kokomo Finance. On January 23, 2022, Solfire experienced a Rug Pull that stole 4.8 million dollars; on March 27, 2023, Kokomo Finance experienced a Rug Pull that stole 5.5 million dollars. The scammer has stolen a total of 16.7 million dollars.

ChainCatcher news, according to Shield monitoring, the developers of Magnate Finance have modified the provider of the protocol oracle and removed all assets within the protocol.Currently, the TVL of Magnate Finance is only $107,000.Previously, it was reported that the Magnate Finance website was inaccessible, and the Telegram group has been deleted.

ChainCatcher news, ZachXBT posted on Twitter that the Magnate Finance website and social platforms are currently inaccessible, and its Telegram group has been deleted.Earlier news, on-chain analyst ZachXBT stated that the Magnate Finance deployer address on Base is directly linked to the $4.8 million exit scam of Solfire, and an exit scam may occur.

ChainCatcher news, on-chain analyst ZachXBT stated that the deployer address of Magnate Finance on Base is directly linked to the $4.8 million exit scam of Solfire, and an exit scam may occur soon.Currently, the total value locked (TVL) in Magnate Finance exceeds $6.4 million.