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News Explorer — Kokomo Finance Exploiter Allegedly Executes $4M 'Exit Scam' via Smart Contract Loophole

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Mar 27, 6:18 am
Cointelegraph

Kokomo Finance Exploiter Allegedly Executes $4M 'Exit Scam' via Smart Contract Loophole

Kokomo Finance, an Optimism-based lending protocol, has been suspected of a $4 million “exit scam.” Blockchain security firm CertiK alerted its followers to the “exit scam,” noting that the token had plummeted 95% in value in a matter of minutes. The attacker was able to exploit a smart contract loophole to gain a $4 million profit.

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