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What Happens to Customers’ Funds as zkFlex Finance Platform Suddenly Disappears?

In an October 8 post on Platform The methods and goals may differ, but one thing remains the same – accessing your money and stealing it. Business fraud and government impersonation are two of the most common when it comes to scams. However, there are also emotional scams, rug pulling, phishing, and exit scams.

zkFlex Finance is nowhere to be found, leaving users and investors in a dilemma. zkFlex Finance users woke up to unwelcome news. Suddenly, their developers removed the official accounts and social media platforms associated with the project, along with the platform itself, and took the money with them.

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Certik, a blockchain security platform, has reported an exit scam by the developers of zkFlex Finance. Two addresses were mentioned as part of the alleged scam, including address 0x84f90, which sold the tokens, making an estimated profit of about $56,000. The platform also warned of removing the project’s accounts, including the project’s profile on the X platform (Twitter), and getting rid of the website and Medium account.

Previously, zkFlex Finance was described as promoting DeFi integration through liquidity rewards, lending, and supporting the ecosystem as a security-focused P2P ordering platform. But it turned out to be a scam with deceptive security slogans.

Cryptocurrency scam headlines are still dominated by scams and rug pulls. In March, suspicions emerged that Optimism was involved in an exit scam. At that time, at least $4 million in user funds was stolen.

READ MORE. Latest updates on the Ripple v. SEC case

According to popular blockchain analytics platform Chaina Analysis, ransomware attacks are an ongoing problem and a cause for concern in cryptocurrency scams.

Earlier in September, Binance CEO CZ expressed concerns about user safety on decentralized cryptocurrency platforms and called for caution when dealing with them.

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