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<p class="is-style-lead">CeriK Alert has revealed that DeFi platform SeaSwap has rug-pulled its users, stealing about $32,000 worth of SUI tokens. SeaSwap has also abandoned its other social media channels.</p>



<p>SeaSwapSui, a decentralized finance protocol on the recently launched Sui network, has stolen investor funds and abandoned its social media platforms.&nbsp;</p>



<p>According to the blockchain security company, CertiK, the SeaSwap admins invoked emergency withdrawal of SUI from the project’s token sale contract, stealing 32,787 SUI worth roughly $32,000 during the attack.</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="596" height="671" src="https://crypto.news/app/uploads/2023/05/Certik.png" alt="DeFi protocol SeaSwapSui steals $32k from investors  - 2" class="wp-image-14161796"><figcaption class="wp-element-caption">Source: CertiK on Twitter</figcaption></figure>



<p>Launched on May 3 by MystenLabs, Sui is a layer-1 blockchain network powered by the designated proof-of-stake (dPoS) consensus mechanism. The Sui project <a href="https://crypto.news/binance-to-list-sui-as-its-ico-is-expected-to-end-today/">concluded</a> its initial coin offering (ICO) earlier this month.</p>



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<p>This year alone, rogue web3 project creators have stolen millions of dollars worth of users’ hard-earned money via rug pull attacks.</p>



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<iframe loading="lazy" title="What is a Rug Pull in Crypto? (Meaning + 3 Examples)" width="1020" height="574" src="https://www.youtube.com/embed/YFaqng3YESE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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<p>In March, Harvest Keeper, an artificial intelligence-based DeFi platform <a href="https://crypto.news/ai-defi-platform-harvest-keeper-orchestrates-rug-pull/">rug pulled</a> its users, carting away with nearly $1 million in crypto.&nbsp;</p>



<p>Other web3 projects, including SyncDex.Finance, AnubisDAO, Atom Protocol, MerlinDEX, and a host of others have conducted rull pull attacks of late.</p>



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DeFi protocol SeaSwapSui steals $32k from investors

crypto.news

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