Four projects got rugged through their shared anti-rug mechanism.
Team Finance, the self-proclaimed “Industry Leader In Project Security & Automation”, lost $15.8M of funds that it was supposed to be safeguarding.
Of the four pools drained, FEG, Caw, and Kondux were the worst hit. Tsuka was also affected, but experienced less price impact due to a secondary liquidity pool on Uniswap v3.
The project’s website claims to protect over $2.5B of assets, but considering the low liquidity of their selection of shitcoins, we can consider this claim to be optimistic at best.