According to several reports, Chibi Finance, the decentralized finance (defi) platform built on top of Arbitrum, allegedly executed an exit scam on its users. Blockchain intelligence firm Peckshield provided a detailed account, revealing that approximately $1 million worth of cryptocurrency assets were illicitly withdrawn and converted into Ethereum. Chiba Finance Becomes 12th Defi Platform on Arbitrum to Exit Scam, Says Smart Contract Auditor Certik On June 27, 2023, the blockchain analysis and intelligence firm Peckshield’s Twitter alert system notified the community about funds being drained from the DeFi application Chiba Finance. “Seems like Chiba Finance rugged,” Peckshield’s alert disclosed on Tuesday. “$1M worth of cryptocurrencies were drained. The stolen funds, which have been swapped for 555 ETH , were bridged from Arbitrum to Ethereum. They have already been transferred into Tornado Cash,” the notice added. All traces of Chiba Finance, including the website, Twitter ac
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