MaxAPY Finance Rug Pulled, Around $440K Stolen

Key Takeaways:

  • MaxAPY Finance Project is rug pulled now, it has already deleted all its social media accounts.

Below is a quick overview of this project.

MaxAPYFinance has described itself as the transformation in DeFi space with the 3.0 DeFI yield farming protocol, which delivers the industry’s highest fixed APY, rebasing rewards every 3 seconds, and a simple buy-stake-hold-earn system that grows our portfolio in our wallet very quickly.

MaxAPY’s contract owner has transferred around 1042 BNB, equivalent to $440K. Here is the link of this transaction. Its native token, i.e., MaxAPY, is dropped by 67%. Here is the contract address: https://bscscan.com/address/0xcb6CD204D783DC8d66896A6DEf5867d332228D7b.

Price Crash Of Max Apy
Price Crash

Here is an official statement from the Telegram Group Admin, which is closed as of now.

Whistleblower Of Max Apy
Whistleblower

Cases of Rug Pulls are increasing nowadays as many countries are moving towards crypto adoption. So scammers are also growing in this space. Developers create a project and then abandon it with the investors’ money. So, we recommend our readers stay alert and perform good research while buying crypto and NFTs.

Here are some other Rug-Pull Scams our readers should know about:
  1. Cardinal DeFi Rug Pulled, Around $50K worth of Juno Stolen
  2. ElonMoonSpace Project Rug-Pulled, Around $171K Lost
  3. Crypto Klash Rug Pulled, Around $340K Stolen
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Yash Kamal Chaturvedi

Btech Computer Science, Maharshi Dayanand University, Rohtak (2023)

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