Defrost Finance Responds to Rug Pull Claims


Defrost Finance responded to the association of the recent hacking event with rug pull.

Defrost Finance, located in the Avalanche ecosystem, announced that both versions (Defrost V1 and Defrost V2) are being investigated due to a hacking event. Blockchain security firm Peckshield, citing information received by the community, said the attack could have been a “rug pull” worth $12 million. Today, another security company, Certik, has also released a graphic describing the Defrost attack as a rug pull, stating that the protocol is unable to communicate with team members. On top of all this, Defrost denied allegations that it robbed its users.

Response to Rug Pull Claims from Defrost Finance

Defrost Finance made a statement about the allegations that it robbed its users with the rug pull method.

The team behind Defrost Finance broke their silence on the charges, saying:

“We deny any accusations that the team is pushing users. Although this incident arouses public suspicion, a key seized does not equal a rug stamp incident.”

Defrost put forward two main arguments to deny involvement: first, if they had planned to pull a rug, they would have done so months ago when its total locked value (TVL) approached $200 million. Secondly, he argued that if they had been the perpetrators, they would have escaped a long time ago, but they did not.


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