Funds run out on Mangopharmasol, community sues for carpet dragging
Solana Ecosystem is said to have faced yet another exit scam after Mangofarm SL deleted its social media accounts with missing financial reports.
MangoFarmSOL, a farming protocol on Solana, promises “unparalleled production in the $SOL space.” According to a Medium post published on January 5th, his MANGO token airdrop was scheduled for January 10th. To participate in the weather, users had to enter the Solana (SOL) symbols into the protocol:
The representative “Fubar” developer warned of problems with the project's facade in a post on X (formerly Twitter) on January 6. He was recently appointed as Safety Auditor of Mangopharmasol. In response to users' questions about what might happen to the protocol, Fubar suggested that it might be a rug pull.
MangoFarmSOL's profile is blacked out on X and its website. Telegram channels with more than 1,000 subscribers will not accept members. The loss is estimated at $2 million.
On X, users shared images of messages allegedly left by the developer behind the cheat. The images show the developer claiming they were forced to create Ponzi schemes and involved in another Solana-based production protocol, BananaMiner. BananaMiner representatives, however, denied that they had anything to do with Mangopharmasol:
“I manage @BananaMiner_ Communication on the whole project, and I can assure you that Mango has nothing to do with us. They even asked me to help them with their project. I explained that there is a conflict of interest. Please don't spread such false rumors and do your research well next time.”
The Solana ecosystem has recently been targeted by fraudsters using wallet leaks. Since December, the attacks have been reported to be on the rise by cybercriminals selling Solana plumbing equipment. According to blockchain security firm Chinalysis, one of the largest online communities for the SOL wallet hacking kit has more than 6,000 members.
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