A recent transaction involving the Libra Protocol creator, who sent 231 Ethereum to obscure addresses, has stoked fears that the project may be fading away.
In Brief
The growing concerns about the Libra Protocol arise from its founder's recent transfer of 231 Ethereum to multiple undisclosed addresses, which raises questions about the project's stability.
This project, which is built on the Arbitrum network, finds itself in a precarious situation. Recently, its creator initiated a transfer worth approximately $552,000, sending around 231 ETH to various unknown wallets. Libra Protocol Earlier this week, Libra Protocol unveiled its initiative for the public minting of Libra Full Chain Runes, where participants could send 0.005 ETH to obtain 21,000 Runes. This minting event attracted a total of 1,054 wallets.
The project has encouraged users to take part in a transparent process designed to shape the future and operations of the Libra platform, advocating for equitable financial initiatives worldwide and inviting user involvement through voting and contributions.
Billed as potentially 'the world's first equitable inscription protocol,' recent events have raised eyebrows, particularly as it implemented a minting contract without making the source code public, directing all mint fees directly to the creator's wallet.
Cryptocurrency enthusiasts are being advised to stay alert as the crypto landscape can be fraught with risks. Arbitrum Being cautious is crucial, especially with scams often hiding behind the facade of attractive cryptocurrency opportunities, which can lead to significant financial losses for unaware investors.
In a concerning development, the Sleepless AI encryption project seems to have executed a rug pull, with its creator raking in around $90,000. The project's token price collapsed by 97.5%, resulting in a profit of 37.7 ETH for the creator.
The official token of this project was introduced earlier in the week on Binance Launchpool. fraudulent activities Sleepless AI was positioned as a gaming platform leveraging Web3 and artificial intelligence (AI), allowing users to stake BNB, FDUSD, and TUSD in a specialized pool for token farming.
As the cryptocurrency market faces challenges with vanishing projects and scams, users are urged to remain extra cautious in this fast-paced field, ensuring they understand potential hazards and make informed choices.
This token shared the same name with Sleepless AI Please be aware that the information on this page is not intended as legal, financial, or investment advice. It's vital to invest only what you can afford to lose and seek independent financial counsel if you have reservations. For more details, please consult the terms and conditions along with the support pages provided by the relevant issuer or advertiser. MetaversePost aims for accuracy and impartiality in reporting, but market conditions can change unexpectedly. Binance Alisa, an ardent journalist at Cryptocurrencylistings, is focused on cryptocurrency, zero-knowledge proofs, investment strategies, and the vast world of Web3. With her sharp analytical skills and a pulse on emerging trends and technologies, she provides in-depth insights to keep readers informed and engaged in the rapidly shifting digital finance landscape.
Blum marks its first anniversary, proudly claiming titles for 'Best GameFi App' and 'Best Trading App' at the Blockchain Forum 2025.
Disclaimer
In line with the Trust Project guidelines Omniston addresses the challenges of DeFi fragmentation by enhancing liquidity on the TON blockchain.
