Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
SwirlLend, an Ethereum Layer 2 lending protocol, has reportedly exited scammed with user deposits worth around $460,000 taken from Base and Linea networks. The exit scam was discovered after PeckShield’s on-chain analysis showed that the protocol’s smart contract appeared to be empty, with all user deposits gone. SwirlLend had attracted a significant amount of deposits since its launch in June 2021, promising high returns and low fees. The incident highlights the risks involved in using decentralized finance protocols and serves as a reminder for users to exercise caution and do their own research.
