The Multichain bridge debacle, seems it was a rugpull from what I'm reading now.
Where did you read it?
I just shared it. We just found the code which they used to rug. It was a built-in backdoor from day 1.
Multichain owners.
It's still far from proof as we don't know who did the moves and for what reason
The fact that the code allowed any amount to be withdrawn disguised as fee revenue is the proof.
It's not new news, it was discussed a couple of weeks ago https://twitter.com/spreekaway/status/1678445945548152847?t=S3WzaDQFN_yohhER6QMNig&s=19
Well, if this would have been told to users earlier, nobody would be waiting for any Chinese arrest confirmation.
I have a noob question. Can a rug pull function be added at anytime in smart contracts? Or are they added at first when contract is deployed? I don't get how in many cases a team can rug pull protocol funds when in theory smart contracts are descentralized and govern by majority of tokens.
Yes and no. Smart contracts are immutable, meaning they cannot be changed, however you can deploy a proxy contract which makes you contract upgradable, so you can "add" new functions later. I simplified the explanation.
Only if everyone accepts your conclusion 100% with no other possible explanations
When we will have proof of the arrest then this will look far better, now it just looks like a rug contract.
dam it was planned then
Could just me very poor code that's always been there and at this stage don't know who used it to move funds and for what reason
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