Kannagi Finance's TVL drops to $0.17 in apparent rug pull
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Quick Take
- Decentralized yield aggregator Kannagi Finance appears to have rug pulled for over $2 million.
- SolidProof completed the project’s audit in June.
Kannagi Finance's official website appears to have expired in what many allege is a rug pull.
The decentralized yield aggregator's total value locked has dropped from $2.13 million to $0.17, according to data from DeFiLlama.
The project also seemingly deleted its social media accounts.
German blockchain security firm SolidProof completed Kannagi Finance's audit on June 6. SolidProof did not immediately respond to a request for comment.
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AUTHOR
Adam is editor-in-chief of The Block. He is based in central Europe and was a managing editor, researcher and podcast host at the crypto exchange OKX's former research arm, OKX Insights. Before that, he co-founded BeInCrypto.com as its first editor-in-chief. Earlier, he served as the editor-in-chief at Bitcoinist.com. Before joining the blockchain and crypto industry, he worked for Looper.com, Grunge.com and SVG.com. He tweets via @XBT002 and can be emailed at [email protected].
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