PANews reported on November 11th that, according to a post by analyst AB Kuai.Dong, the X Layer project Hello 402 appears to have absconded with funds. The team raised $300,000 during its initial public offering (IPO), but only used a portion for liquidity, causing the price to plummet. The community has also revealed that the project's contracts contain a backdoor allowing developers unlimited minting. Currently, the project team has disabled comments and is questioning the blockchain's stakeholders.PANews reported on November 11th that, according to a post by analyst AB Kuai.Dong, the X Layer project Hello 402 appears to have absconded with funds. The team raised $300,000 during its initial public offering (IPO), but only used a portion for liquidity, causing the price to plummet. The community has also revealed that the project's contracts contain a backdoor allowing developers unlimited minting. Currently, the project team has disabled comments and is questioning the blockchain's stakeholders.
Analyst: Hello, a project on X Layer, is suspected of absconding with funds (402 error).
PANews reported on November 11th that, according to a post by analyst AB Kuai.Dong, the X Layer project Hello 402 appears to have absconded with funds. The team raised $300,000 during its initial public offering (IPO), but only used a portion for liquidity, causing the price to plummet. The community has also revealed that the project's contracts contain a backdoor allowing developers unlimited minting. Currently, the project team has disabled comments and is questioning the blockchain's stakeholders.
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