A disappearing act worthy of a heist movie in the crypto industry?
As per cryptocurrency latest news today, BaseBros Fi, a DeFi protocol running on the Base blockchain, vanished into thin air after pulling off a classic rug pull, leaving investors high and dry through an unaudited smart contract.
On September 13, BaseBros abruptly erased its entire digital footprint—its website, X account, and Telegram channel all disappeared without a trace. Right before the vanishing act, BaseBros had amassed around 2,000 followers on X and over 3,300 members on Telegram.
Blockchain security firm Chain Audits, which had previously reviewed some of BaseBros’ smart contracts, confirmed that the project executed the rug pull through “an unaudited and unverified Vault contract.”
Chain Audits had checked four of the five contracts linked to BaseBros, but the contract behind the scam, the Vault, was not part of the audit. This loophole allowed the project’s operators to secretly drain funds deposited into the “Strategy” contract, leaving investors with empty wallets.
Despite the initial panic, the BaseBros rug pull had no effect on the Seamless protocol, which was mistakenly linked to the incident due to similar contract labels. Blockchain investigator Cyvers revealed that the stolen $130,000 was funneled through the crypto-mixing service Tornado Cash.
Seamless quickly conducted its own investigation and reassured its users that both the protocol and their investments were safe. Chain Audits further confirmed that BaseBros was the only protocol affected, and it lost funds from several pools in the heist.
Meanwhile, the crypto world has seen a rise in bold attacks. A seasoned hacker recently gave a shoutout to the mastermind behind Penpie’s $27 million hack, saying it was a “job well done.”
However, in a twist, the same hacker who praised the Penpie attack had returned 90% of the $195 million stolen in an earlier hack, pocketing 10% as a reward for his “honesty” after securing legal immunity.
