Essence Finance’s CHI Stablecoin Crashes 92%

Essence Finance, a project in the Scroll ecosystem, is under scrutiny after its stablecoin, CHI, plunged over 92% in 24 hours, hitting $0.077. Allegedly, more than $20 million in collateral has vanished, raising suspicions of a potential rug pull. The project’s last communication was on September 11, leaving investors questioning its reliability. Although previously audited … source: https://coinpedia.org/news/essence-finances-chi-stablecoin-crashes-92/