Odaily Planet Daily News Chain detective ZachXBT tweeted that the website of Magnate Finance is currently unable to access normally, showing "500 Internal Server Error". Its Telegram group has been deleted. The project is linked on-chain to the Kokomo Finance exit scam.
Earlier news, on-chain detective ZachXBT tweeted that after being reminded by the community, the Base ecological lending agreement Magnate Finance may have an exit scam in the near future, because the address of the deployer is directly related to the Solfire exit scam. Its TVL currently exceeds $6.4 million.
In addition, SlowMist said that it received the same user report message, please pay attention to the safety of funds.